JPMorgan will pay a fine of $1.42 billion in the case of Lehman Brothers

Moscow. January 26. U.S. Bank JPMorgan Chase has announced to pay a fine in the amount of $1.42 billion as part of the settlement of most claims in the case of illegal withdrawal of assets from the Bank Lehman Brother in 2008 before its bankruptcy, The Wall Street Journal writes.

The deal between Lehman and JPMorgan, encased through the court of bankruptcy of the state of new York, meets a large part of the claim of Lehman to JPMorgan and counter the Bank’s claim. In addition, Lehman waives claims in connection with the liquidation of thousands of derivative contracts following the Bank’s bankruptcy in September 2008.

Lehman obtained funds will be used to pay creditors of the Bank.

Lehman Brothers filed the first lawsuit against JPMorgan in may 2010, accusing him of illegal withdrawal of $8.6 billion during the four days before the collapse of Lehman Brothers in 2008.

JPMorgan later Lehman Brothers filed a counterclaim in which he alleged that he provided hundreds of billions of dollars in credit, so that in the first days after the collapse of Lehman, he managed to avoid a quick sale of its assets.

JPMorgan Chase Lehman Brothers conducted through its cashless payments. The bankruptcy of Lehman Brothers, which was one of the leading investment banks in the world, became the largest in U.S. history. It is believed that it was the starting point of the global financial crisis in 2008.