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Lehman Settles $1.2B Credit Suisse Trade Closeout Fight

Law360 (June 13, 2018, 8:26 PM EDT) -- Lehman Brothers Holdings Inc. said Tuesday it had reached a settlement with Credit Suisse AG to end a long-running bankruptcy court scuffle over closeout calculations for derivatives trades following the firm’s 2008 collapse, freeing Lehman from a $1.2 billion claim and its last big bank action of that kind.

The settlement between LBHI and the Swiss bank closes the book on nearly decade-old claims stemming from derivatives trades that went into default when Lehman filed the largest bankruptcy in U.S. history at the height of the...
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