Photographer: Michael Nagle/Bloomberg

JPMorgan Says It Resolved Remaining Litigation in Lehman Case

JPMorgan Chase & Co. and certain affiliates have agreed to pay $797.5 million to resolve all remaining litigation left over from Lehman Brothers Holdings Inc.’s 2008 bankruptcy.

JPMorgan paid $1.42 billion in 2016 that resolved two other major pieces of litigation. That settlement, approved by the bankruptcy court last February, allowed Lehman to make additional payments to creditors of about $1.49 billion.

The most-recent settlement is subject to bankruptcy court approval. A hearing has been set for Feb. 16, according to a Securities and Exchange Commission filing.

Lehman filed the biggest bankruptcy in U.S. history in September 2008, with $613 billion in debt.

The case is Lehman Brothers Holdings Inc. v. JPMorgan Chase Bank NA (In re Lehman Brothers Holdings Inc.), 11-06760, U.S. District Court, Southern District of New York (Manhattan).

Before it's here, it's on the Bloomberg Terminal.