Lehman Brothers Financial SA (LEHNQ)

[mik1]

Lehman Brokerage Trustee Says He’s Closer to Paying Customers

The trustee liquidating the Lehman Brothers Inc. brokerage said he expects to close settlement agreements with affiliates “in the near future” that should enable him to pay approved customers in full.

No one in the U.S. or U.K. has challenged the pacts struck with Lehman Brothers Holdings Inc. and Lehman Brothers International Europe, and he doesn’t anticipate a challenge by the May 22 deadline, he said in an appeals court filing in Manhattan.

It will take “some time” to set aside reserves for disputed claims before making any payout, said trustee James Giddens. He made the statements in a letter to an appeals court handling a separate dispute between the defunct brokerage and London-based Barclays Plc.

To contact the reporter on this story: Linda Sandler in New York at [e-mail]

http://www.businessweek.com/news/2013-05-13/lehman-brokerage-trustee-says-he-s-closer-to-paying-customers