Lehman, bank dismiss claims

Lehman, bank dismiss claims

NEW YORK — Lehman Brothers Holdings Inc. and a trustee services unit of Bank of New York Mellon Corp. dismissed all claims against each other after settling a dispute over swap agreements in which Lehman claimed it was owed $70 million, according to a court filing today.

Terms of the settlement approved earlier this month weren't disclosed. A ruling in Lehman's favor might have allowed the defunct firm to recover billions of dollars from similar contracts at the expense of noteholders, a judge in U.S. District Court in Manhattan said in September.