Lehman to make eighth distribution to holders of allowed claims

By Mark Reccek

Bethlehem, Pa., Sept.24 – Lehman Brothers Holdings, Inc. will make its eighth distribution totaling $5.8 billion to holders of allowed claims on Oct. 1, according to a Thursday press release.

According to the release, the distribution includes $4.8 billion of payments on account of third-party claims, which includes non-controlled affiliate claims, as well as $1 billion of payments among the Lehman debtors and their controlled affiliates.

Additionally, cumulatively through the eighth distribution, Lehman’s total distributions to unsecured creditors will amount to $105.4 billion, including $77.2 billion of payments on account of third-party claims, which includes non-controlled affiliate claims and $28.2 billion of payments among the Lehman debtors and their controlled affiliates, the release said.

The release also said pursuant to the Chapter 11 plan, Lehman debtors’ ninth distribution to creditors is expected to be made within five business days of March 30, 2016.

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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