'Milestone' Lehman Deals Will Pay Out $15B To Customers

Law360, New York (April 16, 2013, 7:07 PM EDT) -- More than four years after the historic collapse of the Lehman Brothers brokerage, a New York bankruptcy judge on Tuesday approved settlements for disputes among three Lehman entities that will allow the brokerage to pay back $15 billion to nonretail customers.

The settlements include a reduction in the customer claim of Lehman's European arm against the brokerage from the $24 billion it initially sought to $9 billion. U.S. Bankruptcy Judge James M. Peck once called the Lehman Brothers International Europe claim the “elephant in the room”...
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