Lehman to pay Barclays US$1.28b to settle suit
The pact would end six years of fighting between Barclays and the trustee
New York
ONE of the longest-running legal fights from the financial crisis, rooted in the dismantling of Lehman Bros, is near an end.
The trustee overseeing the winding down of Lehman's brokerage unit said on Friday that the remaining estate would pay US$1.28 billion to settle a lawsuit filed by Barclays, the British bank that acquired the bulk of Lehman's North American brokerage business.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge