Credit Suisse will get $385 million from its bankruptcy claim against Lehman Brothers Holdings, the Swiss bank said today, less than the $1.2 billion it sought from the failed U.S. investment bank for terminated derivatives transactions, Reuters reported. The deal, which still must be approved by a U.S. court, also means the Swiss bank’s Strategic Resolution Unit will take a roughly $70 million impact in the case dating to 2009, Credit Suisse said. Once Wall Street’s fourth-largest investment bank, Lehman filed for bankruptcy protection from creditors in 2008. Lehman had contended that Credit Suisse had inflated the value of its claims related to the premature end of tens of thousands of derivatives transactions between the two companies.
