Lehman Europe administrators confirm 25% interim distribution rate

By Caroline Salls

Pittsburgh, June 20 – Lehman Brothers International (Europe)’s joint administrators confirmed on Friday that the second interim client money distribution rate was set at 25%, bringing the total distribution rate to 48.2%, according to a news release.

As previously reported, payment will be made on June 27 to all eligible beneficiaries.

The administrators said on June 11 that an increased distribution rate came from additional recoveries to the client money pool, mostly as a result of a settlement achieved with regard to $1 billion of pre-administration client money held by Lehman Brothers Bankhaus.

The administrators said further settlements with client money beneficiaries ultimately led to the release of reserves.

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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