Lehman To Pay Out Another $1.6B To Creditors This Week
After playing a critical role in triggering the financial crisis more than seven and a half years ago, Lehman Brothers announced it will pay $1.6B to creditors this week after recent real estate gains.
This will be the ninth payout since the investment bank failed, bringing its total bankruptcy payout to $106.9B—with $78.5B of that going to third-party, non-Lehman claims, the Wall Street Journal reports.
Lehman Brothers told the US Bankruptcy Court in a recent filing that its general unsecured creditors—originally set to receive only 20 cents on the dollar—will now receive 35 cents on the dollar.
And Lehman still has lot of investments to unwind—another payout is scheduled in September. [WSJ]