Lehman, Bank of America Settlement Wins Court Approval
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A bankruptcy judge approved a settlement between Lehman Brothers Holdings Inc. and Bank of America Corp. today. Bank of America, previously ordered by U.S. Bankruptcy Judge James Peck to pay Lehman $500 million plus interest, said it would settle a remaining dispute by paying bankrupt Lehman $1.5 million, according to a court filing today.
Bank of America has said it will appeal Peck’s final ruling on the case.