Lehman liquidators plan interim distribution for preferred holders

By Caroline Salls

Pittsburgh, Sept. 25 – Lehman Brothers UK Capital Funding’s joint liquidators said in a Wednesday notice to preferred securities holders that they are “nearing a position where an interim distribution to the holders...is appropriate.”

However, before an interim distribution can be paid, the joint liquidators said they intend to investigate the extent to which a costs-reapportionment exercise may be necessary to ensure the costs met by the estates are reasonable.

In the meantime, the liquidators said they are investigating the appropriate way to carry out the planned interim dividend distribution.

The notice was addressed to holders of Lehman Brothers UK Capital Funding LP, Lehman Brothers UK Capital Funding II LP, Lehman Brothers UK Capital Funding III LP, Lehman Brothers UK Capital Funding IV LP and Lehman Brothers UK Capital Funding V LP.

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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