Lehman To Sell $2.5B More In Unsecured Bankruptcy Claims

Law360, New York (January 14, 2015, 5:24 PM EST) -- Lehman Brothers Holdings Inc. said on Wednesday that it would sell $2.5 billion more in general unsecured claims against brokerage affiliate Lehman Brothers Inc. after a sale of such claims last year.

Lehman and some controlled affiliates will sell unsecured claims against its failed brokerage arm, LBI, worth a face value of $2.5 billion, according to a company statement.

The move follows Lehman's sale in September of $2.5 billion of the remaining general unsecured claims against LBI following a Dutch auction. Those claims were to be sold at slightly less than 25 percent of their face value, for a total price of...

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