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Saturday, September 07, 2013 5:44:33 PM
Tony Lomas, who is overseeing Lehman's U.K. administration, a process similar to Chapter 11 in the U.S., said a number of settlements with other Lehman affiliates in the past six months helped clear the way for an initial £1.8 billion ($2.76 billion) payment to unsecured creditors last November, and that a strengthened financial position "now suggests that…there would be sufficient funds to settle in full all provable claims," excluding those by shareholders and claims for interest
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