Defunct Lehman Brothers Holdings Inc. and its affiliates had $14.3 billion in restricted cash on Sept. 30, including $10.9 billion of reserves for claims, according to a federal court filing in Manhattan.
Free cash and investments totaled almost $11 billion. The claim reserves include $5.8 billion held for disputed amounts, Lehman said. The former investment bank plans two payments to creditors every year. The last payment was Oct. 1.
Lehman, which four years after filing the biggest U.S. bankruptcy continues to sell assets to pay creditors, made a first payment of $22.5 billion in April and a second installment of $10.2 billion this month.
Overseen by a new board since leaving bankruptcy in March, the defunct New York-based firm plans a third distribution around March 30. Lehman has said it intends to raise $53 billion through 2016 or so, to pay an average of 18 cents on the dollar on final claims of $300 billion.
The company filed for bankruptcy in September 2008 listing debt of $613 billion.
The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).