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Lehman Brothers Holdings, which has approval for a $65 billion bankruptcy liquidation plan, will ask a judge to let it use $1.3 billion of the estate’s money to increase its stake in Arapahoe County-based Archstone, its biggest real estate asset, according to a person familiar with the planned bid.
Lehman, which currently owns 47 percent of Archstone and has an option to inform the banks this week that it will match an Equity Residential offer, will tell the judge the investment is needed to protect the estate’s interest in the company, said the person, who declined to be identified.
