Lehman Brothers Holdings Inc. has reached a deal with the lone holdout to a multibillion-dollar settlement with its former Swiss derivatives unit, freeing up another $1.8 billion for the failed investment bank's creditors, the Wall Street Journal reported today. Entities with ties to Klaus Tschira, the founder of German software company SAP AG, have agreed to drop their appeal of Lehman's settlement with its Swiss derivatives subsidiary, Lehman Brothers Finance AG, according to court papers filed on Wednesday. Tschira has been fighting for years with the Swiss subsidiary over derivatives contracts terminated after Lehman's 2008 collapse. His decision to drop his appeal brings to a close more than five years of highly contentious litigation between Lehman's New York-based holding company and the Swiss hub of its global equity derivatives business.
