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LEHMAN BROS. HOLDINGS, INC. v. KEE

No. 415, 2020 No. 416, 2020.

268 A.3d 178 (2021)

LEHMAN BROTHERS HOLDINGS, INC., Plaintiff Below, Appellant, v. Winifred White KEE, the Estate of Margaret F. White, Virginia T. Frazier, and the Estate of Mary W. McMahon, Defendants Below, Appellees. Sweetwater Point, LLC., Plaintiff Below, Appellant, v. Winifred White Kee, the Estate of Margaret F. White, Virginia T. Frazier, and the Estate of Mary W. McMahon, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: December 6, 2021.

Attorney(s) appearing for the Case

John H. Newcomer, Jr., Esquire , David J. Soldo, Esquire , and R. Eric Hacker, Esquire , MORRIS JAMES LLP, Wilmington, Delaware. Attorneys for Appellants Lehman Brothers Holdings, Inc. and Sweetwater Point, LLC.

Kevin A. Guerke, Esquire and Lauren Dunkle Fortunato, Esquire , YOUNG CONAWAY STARGATT & TAYLOR, LLP, Wilmington, Delaware. Attorneys for Appellees Winifred White Kee, the Estate of Margaret F. White, Virginia T. Frazier, and the Estate of Mary W. McMahon.

Before SEITZ, Chief Justice; TRAYNOR and MONTGOMERY-REEVES, Justices.

In 2005, Sweetwater Point, LLC ("Sweetwater") paid more than $8 million for two parcels of land. Lehman Brothers Holdings, Inc. ("Lehman") provided a $6 million loan to fund the purchase. Shortly before closing, Sweetwater learned that the State had a claim to a de minimis...

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