Lehman Set For Record $22.5B Initial Creditor Payout

Law360, New York (April 11, 2012, 3:44 PM EDT) -- Lehman Brothers Holdings Inc. and its affiliates intend to make a first distribution to creditors totaling about $22.5 billion on April 17, the company announced Wednesday in a New York bankruptcy court filing.

Lehman emerged from Chapter 11 last month, about 3 1/2 years after it filed the largest bankruptcy in U.S. history in September 2008. Now, the investment bank will set another record by making the largest initial distribution in bankruptcy history, including over 12,000 individual payments, the company said in a statement Wednesday....
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