Lehman Brothers International dividend payment postponed two years

By Caroline Salls

Pittsburgh, Dec. 13 - Lehman Brothers International Europe's joint administrators received High Court approval to extend the payment of a dividend to unsecured creditors to no later than two months after Dec. 31, 2012, according to a news release.

As previously reported, the administrators originally asked preferential and non-preferential unsecured creditors to lodge proofs of debt by Dec. 31 to qualify for a dividend that would be paid no later than two months after that date.

However, the administrators announced last month that they cannot pay this dividend as planned in light of a recent client money judgment.

As a result, they asked the court to extend the deadline for lodging proofs of debt to Dec. 31, 2012, with the payment to be made within two months of the new deadline.

New York-based Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the United States. The company filed for bankruptcy on Sept. 15, 2008 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 08-13555.

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