Federal bankruptcy court approved on Thursday a settlement between the Lehman Brothers brokerage and JPMorgan Chase & Co
The brokerage, which was part of Lehman Brothers Holdings Inc
The trustee had announced the settlement in April. JPMorgan was the brokerage's clearing bank, acting as a go-between in Lehman dealings with other parties and, in that role, holding various Lehman assets.
This is a significant and positive result from two years of investigation and close cooperation with JPMorgan, Giddens said in an emailed statement
The case is In re: Lehman Brothers Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-01420.
(Reporting by Caroline Humer, editing by Gerald E. McCormick)
(This story corrects the spelling of Giddens instead of Gidden in paragraphs 2 and 4)