News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Lehman and SocGen strike $445m settlement

Former US bank reaches settlement over the termination of CDS agreements made in 2008

Lehman Brothers and Société Générale have struck a settlement of pending litigation under which Lehman stands to recover at least $445m.

The settlement, court papers show, relates to a dispute between Lehman and Société Générale over the termination of two credit default swap agreements in 2008 in the weeks following Lehman's Chapter 11 bankruptcy filing.

WSJ Logo