Lehman Brothers Update
Lehman Brothers Distributions - Receiving your distributions
Customers who have not given us payment instructions should contact us to arrange the receipt of the distributions allocated to their Account. Our contact details can be found here.
On 24th October 2017, Meteor received the most recent distribution from Lehman Brothers Treasury B.V. (“LBT”). The distribution was at a rate of just under 0.83% of LBT’s claim valuations.
In the event that LBHI does make a distribution in December 2017 (see below), it is probable that LBT would also make a distribution shortly afterwards but this is not guaranteed. We do not expect LBT to comment on this possibility until any such LBHI distribution has been received and will update this information as soon as further information becomes available.
Lehman Brothers Holdings Inc. (“LBHI”) paid its latest distribution 5th October 2017. The rates, expressed as a percentage of the respective claim amounts, are just under 0.55% for the Class 5 Guarantee Claim and a little over 0.70% for the inherited Class 4A Claim. The distributions have been allocated and a BACS payment made to customers. If you received an overpayment in April 2017, this has now been repaid by a deduction from this current distribution.
On 9th October 2017, LBHI requested that the Bankruptcy Court allow it to establish 7th December 2017 as an additional distribution date. This follows a settlement agreement between LBHI and Citibank being reached shortly before the October 2017 distribution. The agreement will lead to LBHI and other Lehman US entities receiving $1.7 billion from Citibank. The Court is scheduled to consider the request at a Hearing due to take place on 30th October 2017; we will update the information on this page as soon as more news about the proposed distribution is received.
The LBS estate has been wound down and no further distributions are payable from LBS.
For general information on the background, calculation and total distributions paid to date, including details of the wind-down of the LBS estate, please click on the link Lehman Brothers Distributions General Information below. The General Information will be updated after the receipt of the LBT distribution mentioned above.