Citigroup and Lehman Settle $1.2 Billion Dispute
A federal judge approved a settlement between Citigroup Inc. (C) and defunct Lehman Brothers Holdings Inc. over disputed amounts owed on foreign-exchange trades. Citigroup was granted a right to a $1.2 billion priority claim while paying Lehman $167 million, according to an order signed yesterday in federal court in Manhattan. Larger sums remain in dispute, the parties said in the document.
To contact the editor responsible for this story: Stephen Farr at firstname.lastname@example.org