Wednesday, April 17, 2013

Court OKs Lehman settlements to free up $15 billion for customers

A judge on Tuesday approved a set of settlements among Lehman Brothers entities that will allow the company's defunct brokerage to pay back about $15 billion in customer claims, according to a Reuters report.

The intercompany claims had been the final obstacles keeping James Giddens, the trustee recovering money for the broker's customers, from making full payouts to brokerage customers.  While individual retail customers were made whole shortly after Lehman's collapse in 2008, hundreds of affiliate, institutional and hedge fund customers of the brokerage have been waiting for their money….

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