Lehman Agrees Citi Can Make $1.2B Claim Over Forex Deals

Law360, New York (May 15, 2013, 5:06 PM EDT) -- Citibank NA got the green light Tuesday to make a $1.2 billion claim against Lehman Brothers Holdings Inc.’s North American broker-dealer as part of a settlement stemming from an agreement over foreign exchange transactions that Citi cleared for Lehman affiliates. 

New York bankruptcy judge James Peck agreed to the settlement, which the parties had sought May 1, in which Lehman agreed Citibank could make the $1.2 billion claim against Lehman Brothers Inc. For its part, Citibank also agreed to pay $169 million to Lehman affiliate Lehman...
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