{"id":6354,"date":"2013-05-16T07:57:23","date_gmt":"2013-05-16T11:57:23","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=6354"},"modified":"2013-05-16T07:57:23","modified_gmt":"2013-05-16T11:57:23","slug":"citigroup-inc-nysec-settles-dispute-with-lehman-brothers","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/citigroup-inc-nysec-settles-dispute-with-lehman-brothers-6354","title":{"rendered":"Citigroup Inc (NYSE:C) settles dispute with Lehman brothers"},"content":{"rendered":"<p>The dispute that occurred over settlement of foreign exchange claims between Citigroup Inc. (NYSE:C) and Lehman Brothers Holdings Inc. had come to conclusion with the ruling from Federal court in Manhattan. The disputes are to be settled by grant of $1.2 billion to Citigroup Inc. (NYSE:C) against the defunct brokerage of Lehman Brothers Holdings Inc. On the other hand, Citigroup Inc. (NYSE:C) will pay an affiliate of the Lehman parent an amount of $167 million owed on foreign exchange transactions.<\/p>\n<p><b>Cause of dispute<\/b><\/p>\n<p>The dispute between Citigroup Inc. (NYSE:C) and Lehman Brothers Holdings Inc. arose due to Citigroup\u2019s involvement in clearance and settlement of foreign exchange transactions for the parent company of Lehman Brothers and its affiliates during the period of bankruptcy of September, 2008. Though an amount of $1.2 billion is to be paid to Citigroup Inc. (NYSE:C) under the settlement of dispute, larger sums still remain to be settled.<\/p>\n<p><b>New team at Lehman Brothers Holdings Inc.<\/b><\/p>\n<p>Lehman Brothers Holdings Inc. is presently being overseen by new management since it emerged out from bankruptcy in March 2012. The new team is attempting to cut down the claims over disputes by paying off to the approved creditors.\u00a0 Further, the new management team at Lehman Brothers Holdings Inc. is making successful attempts to resolve the existing disputes with creditors.<\/p>\n<p>The brokerage firm is looking out to make its first payments to settle the disputes to its approved former creditors, before moving in for the settlement of other existing disputes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dispute that occurred over settlement of foreign exchange claims between Citigroup Inc. (NYSE:C) and Lehman Brothers Holdings Inc. had come to conclusion with the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":6415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1942],"tags":[1631,1008],"stock_ticker":[],"class_list":["post-6354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-citigroup-inc-nysec","tag-nysec","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Citigroup Inc (NYSE:C) settles dispute with Lehman brothers - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/citigroup-inc-nysec-settles-dispute-with-lehman-brothers-6354\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citigroup Inc (NYSE:C) settles dispute with Lehman brothers - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"The dispute that occurred over settlement of foreign exchange claims between Citigroup Inc. 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