Lehman Brothers to make $17.9 billion creditor distribution on April 3

By Caroline Salls

Pittsburgh, March 27 - Lehman Brothers Holdings Inc. will make a $17.9 billion distribution to holders of allowed claims against various Lehman debtors on April 3, according to a company news release.

The company said this fifth distribution includes $11.7 billion of payments on account of third-party claims, which includes non-controlled affiliate claims; $5.1 billion of payments among the Lehman debtors and their controlled affiliates; and $1.1 billion of payments on account of recently allowed third-party claims that would have been paid had those claims been allowed at the time of the previous distributions.

In accordance with the Chapter 11 plan confirmed on Dec. 6, 2011 and subject to available funds, the Lehman debtors' sixth distribution to creditors is expected to be made within five business days of Sept. 30, 2014.

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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