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Citigroup Inc has agreed to pay $ 360 million to the brokerage estate of Lehman Brothers to resolve a dispute over $ 1 billion in collateral that the investment bank was forced to post in the days leading up to its bankruptcy in 2008. According to a settlement reached on Friday with the trustee liquidating Lehman Brothers’s U.S. brokerage unit, Citigroup will also relinquish its claim to $ 75 million that was contingently paid to the estate at the beginning of the liquidation, court documents showed. The trustee, James Giddens, filed the claim against Citigroup and its subsidiaries early last [...]

O The U.S. brokerage unit and a European unit of the former Lehman Brothers Holdings Inc said they settled a dispute over $ 38 billion in claims over client and creditor assets, a major step toward allowing customers and creditors to recover money. Lehman Brothers Inc and Lehman Brothers International Europe (LBIE) announced the agreement in principle in a joint statement on Friday. The accord requires approval by U.S. Bankruptcy Judge James Peck in Manhattan as well as by the English High Court. On Thursday, the U.S. brokerage unit announced a separate agreement with its former Swiss-based derivatives unit Lehman [...]