Lehman Brothers Holdings Inc Plan Trust (OTCMKTS:LEHMQ)’s unsecured general creditors are set to receive an initial payout of $4.6 billion as soon as next month from the trustee overseeing the firm’s liquidation. The brokerage trustee, James W. Giddens, said he anticipates making the first payment of $4.6 billion to unsecured creditors on September 10. Lehman Brothers: Over-delivering in liquidation Lehman Brothers was Wall Street’s fourth largest investment bank before it filed for Chapter 11 on Sept. 15, 2008. Lehman’s bankruptcy is considered roughly six times larger than any other in U.S. history. In March, it was reported that Lehman will…
Lehman’s Unsecured Creditors Get Initial $4.6 Billion
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports