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 14th December 2018, Lehman Brothers Treasury B.V. (“LBT”) issued a press release in which it announced that it was planning a final cash distribution within the first 4 months of 2019. This would be funded by the sale of its Class 4A Claim against Lehman Brothers Holdings Inc (“LBHI”). As an alternative to receiving a final cash payment, some creditors will be offered the alternative of receiving a replacement security which will effectively pass a pro-rata share of the Class 4A Claim to those creditors who accept the offer. We will update this information, once we have received formal details from LBT, which we do not expect to receive until the New Year
On 5th October 2018, Lehman Brothers Holdings Inc. (“LBHI”) paid its sixteenth distribution. The rates were a little over 0.486% in respect of the Class 5 Guaranteed Claim and a little under 0.622% in respect of the Class 4A Claim inherited from LBS. The distributions have been allocated to individual Accounts and, where we have received bank details, paid to customers.
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.