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Lehman Seeks Approval of Settlement with Freddie Mac

Lehman Brothers has reportedly sought approval to settle a $1.2 billion claim from ""Freddie Mac"":http://www.freddiemac.com/ on money owed to the GSE before the company declared bankruptcy in 2008.

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""_Bloomberg_"":http://www.bloomberg.com/news/2014-02-13/lehman-settles-freddie-mac-claim-for-767-million.html reports Lehman is seeking approval on a settlement in the amount of $767 million.

If approved by the U.S. Bankruptcy Court, the settlement would untie money Freddie Mac had fought to claim priority on, allowing Lehman to pay other creditors seeking to collect on their own debts from the company.

The proposed settlement would not resolved Freddie Mac's derivatives claim against Lehman, according to _Bloomberg_.

Freddie Mac is the second of the enterprises to receive money owed from Lehman. A similar announcement with Fannie Mae was announced at the end of January, with Lehman paying $2.15 billion.

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