Lehman Trustee, Luxembourg Affiliates End $13B Dispute

Law360, New York (June 27, 2013, 4:59 PM EDT) -- The trustee overseeing the liquidation of Lehman Brothers Inc. on Wednesday reached a settlement that will allow two Luxembourg affiliates a combined $163 million in claims and resolve their $13 billion dispute over securities transactions.

James W. Giddens sought approval from U.S. Bankruptcy Judge James M. Peck for the deal, the latest in the trustee’s quest to wind down Lehman Brothers Holdings Inc.'s brokerage unit. A hearing on the deal is set for July 17 before Judge Peck.

Under the agreement, Lehman Brothers (Luxembourg) SA will...
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