Lehman Brothers Financial SA (LEHNQ)

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In addition to the final distribution, the Trustee’s November 3 motion proposed a voluntary scheme whereby nearly all holders of general unsecured claims would be able to receive an additional 0.3224 percent distribution in full and final satisfaction of their claims. The estate’s four largest general unsecured creditors – claim purchasers that between them own 92 percent of the total allowed general unsecured claim amount – would not be part of the voluntary scheme. Under the procedures approved by the Court, all former LBI employee wage-based claims would automatically receive the voluntary distribution. Between the wage-based claimants and other eligible claimants, holders of over 1,300 claims allowed in an amount exceeding $1.8 billion have the opportunity to exit the LBI bankruptcy with an enhanced distribution.


https://www.hugheshubbard.com/news/lehman-team-to-distribute-final-payout-of-269m-to-unsecured-creditors-offer-enhanced-recovery-option-to-substantially-all-unsecured-creditors