Lehman Judge Approves Deutsche Bank Claim Payout Plan
By Alex Wolf (June 25, 2018, 7:14 PM EDT) -- A New York bankruptcy judge on Monday approved a payout process for holders of general unsecured claims against Lehman Brothers Inc. that will allow the holders to sell their remaining interests to Deutsche Bank AG as the defunct brokerage nears the end of its wind-down.
In addition to approving a $170 million distribution of funds to general unsecured creditors of Lehman's brokerage unit, U.S. Bankruptcy Judge Shelley C. Chapman authorized the estate trustee to give claim holders the option of cashing out now instead of holding out for their stake in any future distributions.
While all the unsecured creditors are entitled...
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