Lehman Brothers has estimated its derivatives claims to be around $10 billion, The Wall Street Journal reports. As per the lender’s Chapter 11 plan, nearly 30 financial institutions filed $22 billion in derivatives claims against Lehman and its derivatives subsidiary. The firm has proposed a settlement with 13 of its largest derivatives counterparties and believes that at least 10 of them must agree to the deal by June 30. Lehman had been in conflict with banks, including Bank of America, Bank of New York Mellon and Citigroup, over derivatives claims.
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