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.
(Reuters) - Archstone Inc, the apartment building owner and developer owned by Lehman Brothers Holdings Inc, said on Monday it plans to raise up to $3.45 billion in its initial public offering, making it the biggest U.S. commercial real estate IPO ever. If the listing, which will be in the form of a real estate investment trust or REIT, takes place this year, it would be the third largest U.S. IPO of 2012, behind Facebook Inc and Banco Santander's Mexican unit. Archstone's filing did not reveal how many shares the company planned to sell or the expected price. ...
Lehman Brothers Holdings' bankruptcy estate is preparing to make a cash bid for a chunk of Archstone it doesn't already own, in a move designed to block Sam Zell from grabbing the piece of the large apartment company.