Lehman, JPMorgan Bury Hatchet Over $7.68B Claim

By Erin Marie Daly

Law360, New York (February 26, 2010, 3:01 PM ET) -- Lehman Brothers Holdings Inc. has penned a tentative deal with JPMorgan Chase & Co. that will lay to rest a $7.68 billion claim related to illiquid securities held as collateral by the bank after the investment firm's collapse.

Under the terms of the proposed collateral disposition agreement, filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, JPMorgan will apply $7.1 billion in cash collateral to its current outstanding $7.68 billion claim, slashing the balance of the asserted claim to about $557...
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