Lehman Europe claim dividend declared, settlement cash receipt updated

By Caroline Salls

Pittsburgh, June 19 - Lehman Brothers International (Europe) (LBIE)'s joint administrators declared a second and interim dividend of 43.3 pence to all unsecured creditors whose claims were admitted for dividend purposes, according to a news release.

The second interim dividend will be made on June 28.

The joint administrators also confirmed a first and final dividend of 100p being declared for preferential claims, mainly related to former overseas branch employees.

The administrators said this brings the cumulative dividend to 68.5p with further dividend payments expected in the future, although both the timing and amount of these remain uncertain.

In a separate news release, the joint administrators confirmed that LBIE recovered the majority of the cash and securities from Lehman Brothers Inc. in connection with an omnibus claim settlement.

LBIE is continuing to work with Lehman to transfer the residual balance, the release said.

The administrators said LBIE has now executed sell trades for roughly 90% of the total value of securities received or to be received from Lehman, based on values as of March 28.

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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