BofA, Citi Settle Heller Ehrman Claims For $20M

Law360, New York (March 24, 2011, 4:02 PM EDT) -- Bank of America Corp. and a unit of Citigroup Inc. agreed earlier this month to pay $20 million as part of a settlement with liquidating law firm Heller Ehrman LLP and its unsecured creditors in California bankruptcy court.

The settlement agreement, filed March 10 in the U.S. Bankruptcy Court for the Northern District of California, brings to a close a $56 million lawsuit filed by Heller Ehrman's unsecured creditors in April 2009 alleging that the defunct law firm had paid the banks $56 million during the...
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