Lehman Brothers creditors to get another $17.9bn

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Lehman Brothers plans next week to distribute about $17.9bn to creditors, boosting its total payout to roughly $80.4bn since it left its record bankruptcy, which helped trigger the global financial crisis.

Reuters reports that the semi-annual distribution is Lehman's fifth, and will be the largest since an initial $22.5bn payout that followed the company's emergence from Chapter 11 on March 6, 2012.

In a statement on Thursday, Lehman said the fifth distribution will occur on April 3. The payout will include $12.8bn to third-party creditors and affiliates, plus $5.1bn to other Lehman debtors and affiliates.

Following the payout, holders of senior unsecured claims against the parent company will have received about 26.9 cents on the dollar on their claims.

Slightly more than two-thirds of Lehman's distributions have gone to third party creditors.

To access the complete Reuters article hit the link below:

Lehman payout tops $80 billion, creditors get another $17.9 billion

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