“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.

“A lawyer for Weil Gotshal & Manges LLP, Lehman’s bankruptcy counsel since Lehman’s 2008 collapse, began the hearing thanking Judge Peck for his “hard work, scholarship and practicality.

“We’ll miss you, and we wish you luck in your future endeavors,” said the lawyer, Jacqueline Marcus. “Thank you very much,” Judge Peck said.”

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