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Retiring Lehman Judge Approves Fannie Settlement

"NEW YORK—Judge James Peck approved Lehman Brothers Holdings Inc.'s settlement with Fannie Mae over $18.9 billion in mortgage claims, a last major decision for Lehman's bankruptcy judge before his retirement at the end of the week.

"I want to thank all of you, including those not in the room, for making this the experience of a lifetime," a teary-eyed Judge Peck said before concluding the hearing.