Lehman, Freddie Mac Settle For $767 Million

The $767 million deal between Lehman Brothers Holdings Inc Plan Trust (OTCMKTS:LEHMQ) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) was approved by a federal judge yesterday, resolving claims stemming from two loans that Lehman received just before it collapsed in 2008, reports Joseph Checkler for The Wall Street Journal.

Judge Shelley S. Chapman of the US Bankruptcy Court in Manhattan, who took over Lehman’s lengthy bankruptcy proceedings after James Peck retired, approved the deal, freeing up cash that had previously been set aside to cover Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal...