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Journalism of Courage
The trustee overseeing the liquidation of Lehman Brothers Holdings broker dealer has sued Citibank to recover more than $1.3 billion in cash and other assets.
The assets include a $1 billion deposit that Citibank demanded to continue providing foreign exchange settlement services to broker-dealer Lehman Brothers after its parent filed for Chapter 11 bankruptcy protection,according to a complaint filed in US bankruptcy court in Manhattan on Friday.
Citibank also froze more than $300 million in additional deposits,according to the complaint filed by Lehman Brothers trustee James Giddens.
