Lehman plans to make $10.9 billion distribution to creditors on Oct. 2

By Caroline Salls

Pittsburgh, Sept. 25 – Lehman Brothers Holdings Inc. will distribute $10.9 billion to unsecured creditors on Oct. 2, according to a news release.

The distribution includes $9 billion of payments on account of third-party claims, which includes non-controlled affiliate claims, and $1.9 billion of payments among the Lehman debtors and their controlled affiliates.

Cumulatively through this sixth distribution, Lehman said its total distributions to unsecured creditors will amount to roughly $92 billion, including $66.1 billion of payments on account of third-party claims and $25.9 billion of payments among the Lehman debtors and their controlled affiliates.

In accordance with the Chapter 11 plan confirmed on Dec. 6, 2011 and subject to available funds, the Lehman debtors’ seventh distribution to creditors is expected to be made within five business days of March 30, 2015.

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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