Lehman Inks $767M Deal To Resolve Freddie Mac Claim

Law360, New York (February 13, 2014, 1:51 PM EST) -- Lehman Brothers Holdings Inc. on Wednesday agreed to pay $767 million to settle Freddie Mac’s $1.2 billion claim, freeing up the $1.2 billion cash reserve that was set aside for the government enterprise so it can now be distributed to creditors.

Lehman filed court papers in bankruptcy court Wednesday afternoon seeking approval of the settlement, which will make hundreds of millions of dollars available for distribution.

“With this settlement, the plan administrator favorably resolves two of the largest remaining claims against LBHI,” attorneys for the fallen...
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