Lehman Reportedly To Settle $22B Derivatives Claims

Law360, New York (May 31, 2011, 10:34 PM EDT) -- Lehman Brothers Holdings Inc. on Tuesday reportedly proposed to settle with more than a dozen banks, including Bank of America Corp. and JP Morgan Chase & Co., that hold about $22 billion in derivatives claims against the bankrupt firm.

Lehman said at least 10 of the banks have to agree to the settlement by June 30, the Wall Street Journal reported. Other major investment banks — like Bank of New York Mellon Corp., Citigroup Inc. and Credit Suisse Group AG — have wrangled with Lehman over...
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