A New York bankruptcy court has approved a $957 mln (EUR 680 mln) sale of notes to Lehman Brothers Holdings from its German unit, Lehman Brothers Bankhaus, as part of a larger settlement between Lehman's bankruptcy estate and its affiliates.

The parent company acquired a group of real estate- and commercial-backed notes with principal amounts totaling $1.54 bn at a discount of nearly 40%.

Lehman, whose collapse in September 2008 shook the global financial markets, struck a $6.6 bn deal in February with LB Bankhaus, its second-largest foreign affiliate, that settled all intercompany relationships between the two companies.