Lehman Inks $6.6B Deal With German Affiliate

Law360, New York (February 3, 2011, 6:04 PM EST) -- Lehman Brothers Holdings Inc. announced Thursday a settlement to allow $6.6 billion in claims by its insolvent German affiliate.

The deal with Lehman Brothers Bankhaus AG, the second-largest of Lehman's foreign affiliates, is still subject to approval in the U.S. Bankruptcy Court for the Southern District of New York, Lehman said in a statement.

It must also get the green light from parallel proceedings in German courts. Lehman also said Bankhaus had agreed to support Lehman's first amended joint Chapter 11 plan for reorganization, filed on...
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