Deals
Lehman Brokerage to Start Paying Customers $18.3 Billion
This article is for subscribers only.
The trustee liquidating Lehman Brothers Inc. said he aims to start paying the bankrupt brokerage’s remaining customers early next year from available assets of $18.3 billion.
Trustee James Giddens, who also is liquidating the MF Global Inc. broker-dealer, asked a judge to approve the distribution yesterday, more than three years after the Lehman parent filed the biggest bankruptcy in U.S. history. He didn’t say how much money customers can expect, only that his goal was to make “a significant” payment. Large payouts must await resolution of remaining disputes over claims, he said.