Goldman Sachs Traders Buy Hundreds of Millions in Lehman Claims

Goldman Sachs Group Inc. (GS) units bought hundreds of millions of dollars in claims on defunct Lehman Brothers Holdings Inc., according to federal court filings.

Among the largest trades were by Elliott Management Corp. units and Empyrean Investments LLC, according to the filings, made mostly over the weekend. The filings also show at least two Goldman Sachs sales of Lehman claims.

The former investment bank has so far paid creditors about 9 cents on the dollar, out of the average of 18 cents on the dollar it has said it might raise by about 2016. Its next payment is due on April 4, it said on Feb. 15.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Fred Strasser at fstrasser@bloomberg.net

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