NEW YORK--(BUSINESS WIRE)-- Lehman Brothers Holdings Inc. (“LBHI”), as Plan Administrator, announced today in a court filing the percentage recovery that will be distributed on December 7, 2017 to holders of allowed claims against LBHI and its various affiliated Debtors (collectively, “Lehman”).
Lehman’s aggregate fourteenth distribution to unsecured creditors pursuant to its confirmed chapter 11 plan will total approximately $3.0 billion. This distribution includes (1) $2.3 billion of payments on account of third-party claims, which includes non-controlled affiliate claims, and (2) $0.7 billion of payments among the Lehman Debtors and their controlled affiliates (see Exhibit B to the court filing, Docket #57065, for further detail). Cumulatively through this fourteenth distribution, Lehman’s total distributions to unsecured creditors will amount to approximately $122.0 billion including (1) $89.9 billion of payments on account of third-party claims, which includes non-controlled affiliate claims and (2) $32.0 billion of payments among the Lehman Debtors and their controlled affiliates.
The interim timing of this distribution was approved by the U.S. Bankruptcy Court for the Southern District of New York on October 30, 2017 (Docket #56904), pursuant to a motion filed on October 9, 2017 (Docket #56324), which sought to accelerate the distribution of proceeds from a settlement with Citibank, N.A.
In accordance with the chapter 11 plan, which was confirmed on December 6, 2011, and subject to available funds, the Lehman Debtors’ fifteenth distribution to creditors is anticipated to be made within 5 business days of March 30, 2018.
The chapter 11 plan, related disclosure statement and other filings, including the filing referred to above, can be found at www.lehman-docket.com in the “Key Documents” section. Questions relating to the distribution can be directed to the Debtors’ claims agent, Epiq Systems, Inc., at 1-866-879-0688 (U.S.) and 1-503-597-7691 (Non-U.S.).
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Lehman Brothers Holdings Inc.
Kimberly Macleod, 646-285-9215
Source: Lehman Brothers Holdings Inc.