Citigroup Inc and Lehman Brothers Holdings Inc resolved a fight over $2.1 billion that dates to the financial crisis era after Citigroup agreed to give back $1.74 billion to the estate of the investment bank, according to Bloomberg.
Citigroup had kept about $2.1 billion that Lehman had on deposit with it for trades following the Lehman bankruptcy, Bloomberg said.
The dispute arose because Citigroup said it was owed $2 billion as a result of Lehman’s bankruptcy, while Lehman argued that the money should go to its creditors, Bloomberg said.
Lehman Brothers Managing Director Steven Mullaney said in court papers that the pact was “reasonable in light of the complexities of the litigation,” according to Bloomberg.
Reuters was not able to get a comment from Citigroup or Lehman Brothers outside business hours.
Posted on অক্টোবর ৫th, ২০২৪
Posted on সেপ্টেম্বর ১৮th, ২০২৪
Posted on আগস্ট ২৮th, ২০২৪
Posted on আগস্ট ২৪th, ২০২৪
Posted on আগস্ট ১৭th, ২০২৪
Posted on আগস্ট ১১th, ২০২৪
Posted on জুলাই ১৬th, ২০২৪
Posted on জুলাই ১৬th, ২০২৪
Posted on জুনe ৩০th, ২০২৪
Posted on জুনe ৮th, ২০২৪