Lehman Reaches Blockbuster $38B Deal With European Unit

Law360, New York (October 5, 2012, 3:38 PM EDT) -- Two days after resolving a $6 billion dispute with its Swiss affiliate, Lehman Brothers Inc.'s liquidating trustee announced Friday that he's reached a $38 billion deal with Lehman Brothers International (Europe), ending one of its biggest remaining disputes.

James W. Giddens, the Securities Investor Protection Act-mandated trustee liquidating the North American broker-dealer unit of Lehman Brothers Holdings Inc., reached the agreement in principle with LBIE administrator Tony Lomas to resolve all claims between the companies.

“This is a critical milestone for customers because, if approved by...
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