Lehman plan administrator announces $290 million April 4 distribution

By Caroline Salls

Pittsburgh, March 28 – Lehman Brothers Holdings Inc.’s plan administrator on Thursday announced a distribution will be made on April 4 to holders of allowed claims against Lehman and various affiliated debtors.

According to a news release, Lehman’s 17th distribution to unsecured creditors under its confirmed Chapter 11 plan will total about $290 million, including $237 million of payments on account of third-party claims, which includes non-controlled affiliate claims, and $53 million of payments among the Lehman debtors and their controlled affiliates.

Cumulatively through the 17th distribution, Lehman’s total distributions to unsecured creditors will amount to $126.9 billion, including $94.2 billion of payments on account of third-party claims and $32.7 billion of payments among the Lehman debtors and their controlled affiliates.

In line with the Chapter 11 plan, which was confirmed on Dec. 6, 2011, and subject to available funds, the release said the Lehman debtors’ 18th distribution to creditors is expected to be made within five business days of Sept. 30, 2019.

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

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