Lehman Brothers to make $3.8 billion distribution to claimants Oct. 6

By Caroline Salls

Pittsburgh, Sept. 29 – Lehman Brothers Holdings Inc. announced a $3.8 billion distribution to be made on Oct. 6 to holders of allowed claims against the company and its affiliated debtors, according to a news release.

Lehman said its 11th distribution to unsecured creditors under its confirmed Chapter 11 plan will include $3.1 billion of payments on account of third-party claims, which includes non-controlled affiliate claims, and $700 million of payments among the Lehman debtors and their controlled affiliates.

Cumulatively through the 11th distribution, Lehman’s total distributions to unsecured creditors will amount to $113.6 billion, including $83.6 billion of payments on account of third-party claims and $30 billion of payments among the Lehman debtors and their controlled affiliates.

In accordance with the plan, which was confirmed on Dec. 6, 2011, and subject to available funds, the Lehman debtors’ 12th distribution to creditors is anticipated to be made within five business days of March 30, 2017.

Based in New York, Lehman Brothers Holdings handles all bankruptcy-related actions from the former Lehman Brothers Inc., a financial services company.

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