Lehman Strikes Deal With Citi Over $2.5B In Assets

Law360, New York (June 29, 2011, 4:27 PM EDT) -- Lehman Brothers Holdings Inc.'s European arm said Wednesday that it had reached a settlement over $2.5 billion in assets currently held by Citigroup Inc., the same day the bankrupt company filed a new reorganization plan in New York. 

The settlement said that Citigroup's custodian banking business will release $2.5 billion in Lehman Brothers International (Europe) assets in exchange for custodian fees. Both parties will release each other of all claims, it said.

"This is by far the largest single deal we have undertaken and easily the...
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