Sunday, January 13, 2019 6:05:32 PM
"The Plan Administrator has made significant progress in asset recovery and claims resolution for
each of the Debtors. To date, the Plan Administrator has made distributions to creditors totaling
approximately $126.6 billion, of which $93.9 billion were payments on account of third party
claims against the Chapter 11 Entities. Since the Effective Date, fifteen of the twenty three
Chapter 11 Cases were closed pursuant to final decrees issued by the Court on January 28, 2016"
The Final Distribution
14. Under the Plan and the Order In Aid of Execution of The Modified Third
Amended Chapter 11 Plan of Lehman Brothers Holdings Inc. And Its Affiliated Debtors, dated
January 31, 2013 [ECF No. 34348] (the “Order in Aid of Execution”), Distributions of Available
Cash are to be made semi-annually on or about March 30 and September 30 of each year. Plan,
§ 8.3.
15. The Plan Administrator seeks authorization to make final distributions
from Lehman Brothers Commercial Corporation and Lehman Brothers Commodity Services Inc.
prior to the next regularly scheduled Distribution Date, which would be on or about March 31,
2019, in order to close the case, stop the accrual of additional U.S. Trustee fees, and provide
distributions to various creditors.
16. If the Court grants the Motion, Lehman Brothers Commercial Corporation
will distribute $2,014,937.24 in additional distributions to its equity owner, Lehman Brothers
Holdings Inc. and Lehman Brothers Commodity Services Inc. will distribute $1,604,791.60 in
additional distributions to its various creditors.
17. In accordance with section 8.11 of the Plan and the Order in Aid of
Execution, for purposes of the final distribution, the Closing Debtors and the Plan Administrator
will not recognize any transfer of claims after January 10, 2019. Notwithstanding section 1.48 of
the Plan and the provisions of the Order in Aid of Execution, the Plan Administrator believes it
should not be required to publish a written notice of the final distributions for the Closing
Debtors.
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The Most Royal Dude
Lets Go Fishing
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