Lehman Brothers to sell $2.5 billion of claims for $619 million

By Kali Hays

New York, Sept. 11 – Lehman Brothers Holdings Inc. has agreed to sell $2.5 billion of the remaining claims against its subsidiary Lehman Brothers Inc. for $619 million, according to a Thursday news release.

The claims will be sold net of the 17% distribution received by Lehman Holdings from Lehman Inc. for 24¾% of their face value leaving the aggregate purchase price at approximately $619 million.

The sale is a result of a “Dutch auction process,” according to the release.

New York-based Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the United States. The company emerged from bankruptcy on March 6, 2012.

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