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Letter From Lehman Attorney’s Telling SunCal to Back Off…or else

We wrote yesterday how it was reported that attorneys representing the bankrupt Lehman Brothers have written letters to SunCal to remind them of their place in the various southern California development project bankruptcies. Evidently, SunCal is trying to push their agenda through the bankruptcy court on various projects such as Oak Knoll and Marblehead even though they don’t have the authority to do so under the LLC operating agreement they entered into with their financial partner. Leman’s attorneys’ close out the letters with “Please be advised that the LB Member [Lehman Brothers] will hold the SC Member [SunCal] accountable for any action it takes in violation of the terms of the Operating Agreement.” Here is a copy of the letter from the SunCal PSV bankruptcy.

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