Lehman Distribution Possible In 9 Months: Trustee

Law360, New York (October 28, 2010, 4:48 PM EDT) -- A distribution for customers and creditors of bankrupt financial services giant Lehman Brothers Holdings Inc.'s now-defunct U.S. broker-dealer arm could happen by July, the trustee overseeing Lehman Brothers Inc.'s liquidation told a federal judge Thursday.

James W. Giddens, the trustee appointed under the Securities Investor Protection Act, told Judge James Peck of the U.S. Bankruptcy Court for the Southern District of New York on Thursday that a distribution in nine months was the "aspirational" date that would only be possible if there was a clarity in...
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