Last page.. Conclusion Since the last Plan Administration Update, approximately $6.8 billion has been distributed and approximately $7.9 billion of claims filed have been resolved
These cases remain “mega-bankruptcy” cases with approximately $7 billion of remaining assets, including cash (much of which is reserved for disputed claims), net of future operating expenses and excluding potential litigation recoveries and over 450 unresolved claims
In addition to the ongoing trial over the valuation of Citi’s claim, a trial concerning the estimation of the RMBS Private Label claims is scheduled to commence on October 16, 2017, and, absent a settlement, the Court will need to conduct a massive trial over the valuation of Credit Suisse’s claims
While the Plan Administrator continues to drive towards the completion of its mandate under Lehman’s Chapter 11 plan, additional judicial resources will be required to enable the Plan Administrator to enhance creditor recoveries and facilitate the final administration of these estates
The Plan Administrator continues to maintain a robust and experienced litigation platform and is prepared to strike the necessary balance considering the value of fair compromise, the cost of litigation, the benefit received by the Estate’s creditors from timely resolution and the goal of ensuring that all creditors are treated fairly
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