JPMorgan to $ 800 million to pay to settle the claims of brokerage Lehman

April 22, 2011, 12: 04 am EDT by Linda Sandler

April 22 (Bloomberg)--JPMorgan Chase & Co. will settle claims against it introduced by brokerage Lehman Brothers Holdings Inc. in returning the 800 million dollars in cash and securities, according to court documents.

The deceased brokerage, Lehman Brothers Inc., will distribute the money to its customers, according to a filing yesterday before the Court of bankruptcy in the Manhattan.JPMorgan United States was the main Bank for brokerage Lehman of clearing, billions of dollars of treatment and operations of the tens of billions of dollars of loans every day at LBI, according to the filing. While some of the loans were guaranteed by securities in the accounts of the broker, the Bank did not have a valid privilege on some property of the client, which is now be returned, he said. "The agreement will have no financial impact material on JPMorgan,"the Bank said in a statement by email."Most of the assets were put aside to wait for a settlement of claims by the trustee who is liquidating the brokerage Lehman remains, he said.Separately, JPMorgan, the second largest U.S. bank, seeks a continuation of the rejected parent of Lehman $ 8.6 billion.The case of brokerage bankruptcy is in re Lehman Brothers Inc., 08-01420, the bankruptcy court in United States, Southern District of New York (Manhattan).

-Editors in Chief: John Pickering, Charles Carter

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net.

To contact the editor responsible for this story: John Pickering, the jpickering@bloomberg.net

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