NEW YORK (Reuters) - Federal bankruptcy court approved on Thursday a settlement between the Lehman Brothers brokerage and JPMorgan Chase & Co in which the bank will return more than $800 million of cash and securities to resolve claims brought by the Lehman trustee.
The brokerage, which was part of Lehman Brothers Holdings Inc
The trustee had announced the settlement in April. JPMorgan was the brokerage's "clearing" bank, acting as a go-between in Lehman dealings with other parties and, in that role, holding various Lehman assets.
"This is a significant and positive result from two years of investigation and close cooperation with JPMorgan," Giddens said in an emailed statement
The case is In re: Lehman Brothers Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-01420.
(Reporting by Caroline Humer, editing by Gerald E. McCormick)
(This story corrects the spelling of Giddens instead of Gidden in paragraphs 2 and 4)
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