Bankruptcy Judge James Peck yesterday approved two key deals for Lehman Brothers Holdings Inc., as the failed investment bank and its brokerage continue winding down and freeing up money for creditors, Dow Jones Newswires reported yesterday. Judge Peck said that the trustee unwinding Lehman's brokerage could move forward with a sale of its stake in gas-tanker Navigator Holdings Ltd. to Wilbur Ross's WL Ross & Co. for $110.2 million, subject to higher bids next month. A lawyer for trustee James W. Giddens told Judge Peck that a limited "no-shop" provision has been removed from the sale agreement, at the request of Lehman's parent company. Lehman's stake represents about 34 percent of Navigator's outstanding shares.
