Lehman Brothers set to distribute $198.4 million to creditors April 2

By Caroline Salls

Pittsburgh, March 26 – Lehman Brothers Holdings Inc. will make a $198.4 million 20th distribution to unsecured creditors under its confirmed Chapter 11 plan on April 2, according to a news release.

Lehman said the distribution includes $127.8 million of payments on account of third-party claims, which includes non-controlled affiliate claims, and $70.6 million of payments among the Lehman debtors and their controlled affiliates.

Cumulatively through the 20th distribution, Lehman’s total distributions to unsecured creditors will amount to $128.1 billion, including $95.2 billion of payments on account of third-party claims and $32.9 billion of payments among the Lehman debtors and their controlled affiliates.

In line with the plan confirmed on Dec. 6, 2011, and subject to available funds, a 21st distribution is expected to be made within five business days of Sept.

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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