Lehman Brothers Holdings and Lehman Brothers Finance reach settlement

By Caroline Salls

Pittsburgh, March 27 - Lehman Brothers Holdings Inc. and some of its affiliates entered into a settlement agreement with Swiss affiliate Lehman Brothers Finance AG, according to a news release.

The terms of the settlement, which is subject to approval by the U.S. Bankruptcy Court for the Southern District of New York and Lehman Brothers Finance's creditor's committee, will be included in motions to be filed with the bankruptcy court in the coming weeks.

A hearing is expected to be held on April 24.

New York-based Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the United States. The company emerged from bankruptcy on March 6, 2012.

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