An agreement reached in the Lehman Brothers liquidation proceedings could pave the way for customers of the failed brokerage to see 100% recovery without using any fund advances from the U.S. Securities Investor Protection Corp.

Under the agreement in principle—which still has to be approved by the U.S. Bankruptcy Court for the Southern District of New York and an English High Court—approximately $38 billion in claims are resolved. The agreement was hammered out between James Giddens, Trustee for the liquidation of LBI, and Tony Lomas, the Joint Administrator of Lehman Brothers International (Europe).

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