A federal judge approved a settlement between Citigroup Inc. and defunct Lehman Brothers Holdings Inc. over disputed amounts owed on foreign-exchange trades. Citigroup was granted a right to a $1.2 billion priority claim while paying Lehman $167 million, according to an order signed yesterday in federal court in Manhattan. Larger sums remain in dispute, the parties said in the document.
The Bernard Madoff brokerage liquidator appealed a federal judge’s ruling that blocked his move to stop New York Attorney General Eric Schneiderman from completing a $410 million settlement with J. Ezra Merkin.
A judge handling a $2 billion lawsuit against banks including JPMorgan Chase & Co. and UBS AG brought by the former Thornburg Mortgage invited their lawyers to file statements on the possible appointment of a mediator to resolve the dispute, according to a federal court filing in Baltimore.
The U.K.’s Bernie Ecclestone, accused of paying a bribe to steer a Formula One racing stake to CVC Capital Partners Ltd., says U.S. dollar wire transfers from a Swiss bank to an Austrian bank don’t give U.S. courts jurisdiction in the case, as the plaintiff claimed.