Bank of New York Mellon (BNY) is paying the rest of a $494.4 million debt to close out a series of transactions with Lehman Brothers Holdings’ U.S. broker-dealer business, The Wall Street Journal reports. BNY will pay $14.1 million to James Giddens, the trustee shutting down the broker-dealer unit, Lehman Brothers, for the benefit of the brokerage’s creditors. Earlier, BNY had paid Lehman Brothers’ bankruptcy estate $480.3 million to close out a series of securities and foreign-exchange transactions. The trustee’s team has shifted 110,000 brokerage accounts with a value of nearly $92 billion out of Lehman Brothers.
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