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.
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