NEW YORK – Institutional customers of Lehman Brothers' collapsed brokerage will receive full payouts on their claims, James Giddens, the trustee winding down the brokerage, said on Friday.
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A settlement announced earlier this year between the brokerage, Lehman's defunct parent company and its European affiliate will provide for full payments for hedge funds, corporate affiliates, counterparties and other customers, Giddens said in a statement.
Retail customers have already been paid in full.
(Reporting by Nick Brown; Editing by Jeffrey Benkoe)