Lehman, IRS Settle Tax Disputes For $125M

Law360, New York (March 24, 2010, 7:02 PM EDT) -- Lehman Brothers Holdings Inc. has reached a settlement with the Internal Revenue Service that will provide the bankrupt former financial giant with more than $125 million in refunded taxes and penalties that the company claimed it was owed.

On Tuesday, Lehman asked the U.S. Bankruptcy Court for the Southern District of New York to sign off on the settlement, which resolves several disputes between the two sides for taxes dating back to 1997.

The deal will provide Lehman's estate with almost $125.7 million, or about 63...
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