Lehman Brothers Holdings Inc., which is still selling assets after exiting bankruptcy last year, said it will pay US$14.2-billion to creditors and affiliates on April 4.
Depending on available funds, the following payout will take place around Sept. 30, the defunct investment bank said in a statement Wednesday.
Lehman, which filed the biggest bankruptcy in U.S. history in 2008, has so far paid creditors about 9 cents on the dollar, or half of what it expects to pay by about 2016. Its first payment was US$22.5-billion and its second distribution was about US$10.5-billion.
NEW YORK (Reuters) - Lehman Brothers Holdings Inc, one of three owners of Archstone, has reached a deal to buy the last portion of the apartment company it does not own for $1.58 billion, said a source familiar with the deal on Thursday. Lehman will buy the 26.5 percent of Archstone that it already does not own from Bank of America Corp and Barclays Plc . In January, Lehman bought half the banks' stake, or 26.5 percent of the Archstone, for $1.325 billion. That came after Barclays and Bank of America agreed to sell the 26.5 percent stake to Equity Residential , whose chairman is Sam Zell. ...
By Mike Maher:The leveraged buyout of Archstone-Smith Trust by Lehman Brothers and Tishman Speyer in late 2007 was a deal done almost exactly at the top of the market, which saddled Lehman with crushing debt that helped push the investment bank into bankruptcy. Four years later, with a new buyer circling Archstone, Lehman is scrambling to salvage the deal, loath to give up on the company.