Judge tells Bank of America to give Lehman a $500 million refund

11/18/2010 | Wall Street Journal, The

Bank of America must return $500 million seized from Lehman Bros. after the investment bank filed for Chapter 11 in 2008, a bankruptcy judge has ruled. The judge said that Bank of America had been "brazen" in claiming the funds, which had been posted as collateral, without first asking permission from the bankruptcy court.

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