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Wednesday, 7 December 2016
Last updated 5 hours ago
Apr 17 2013 | 2:02pm ET
Lehman Brothers' hedge fund clients are poised to be repaid more than four years after the investment bank collapsed.
A federal bankruptcy court yesterday approved trustee James Giddens' plans to repay banks and hedge funds more than $15 billion. The move will "set the stage" for customers to get all of their money back, Giddens said.
That money has been frozen since Lehman declared bankruptcy in 2008.