NEW YORK (TheStreet) — JPMorgan Chase reached a deal with the trustee for Lehman Brothers (LEHMQ.PK) to return $ 800 million in customer assets to creditors of the collapsed investment bank.
JPMorgan, which announced the agreement on Thursday, said the deal would have no financial impact on the banking giant. Lehman Brothers’ historic bankruptcy filing in September 2008, the largest in U.S. history, sparked panic and confusion in financial markets. It came less than eight months after Lehman reported record revenue of almost $ 60 billion for the 2007 fiscal year.
While much of Lehman was acquired by Nomura Holdings and Barclays creditor disputes remain ongoing. …
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