Lehman Trustee Trims $8.5M Off Affiliate's Claim

Law360, New York (June 17, 2013, 5:06 PM EDT) -- Lehman Brothers Inc.’s trustee on Monday secured a deal that will shave $8.5 million off a Curacao-based affiliate’s customer claim against the estate, the latest in a series of recent deals the trustee has landed to maximize the recovery of customers and general creditors.

James W. Giddens, charged with the task of winding down the fallen brokerage, said in court papers that Lehman Brothers Securities NV has reached an agreement through which the affiliate’s $10.9 million customer claim was reduced to $2.4 million. It will remain...
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