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4 Кидс Ентертеймент Message Board

  • jeffhinton28 jeffhinton28 Jun 7, 2013 1:53 PM Flag

    Maybe that payout is coming from Lehman

    Isn't there some sort or rumored payout coming? From filing a while back they mentioned general unsecured creditor pool. I wonder what percentage unsecured creditors will get? Maybe 30 percent? Since others get paid in full maybe unsecured pool is bigger than expected.

    Leftover money in the estate will go toward repaying roughly 12,000 non-customer general creditor claims. It remains unclear how much money will be available to those customers.

    News out today.

    NEW YORK (Reuters) - The trustee liquidating Lehman Brothers' collapsed brokerage will begin a round of distributions on Friday that should result in institutional customers getting all their money back, trustee James Giddens said.

    A settlement announced earlier this year between the brokerage, Lehman's defunct parent company and its European affiliate will provide for full payments for hedge funds, corporate affiliates, counterparties and other customers, Giddens said in a statement on Friday.

    It was unclear how long the payouts would take. Jake Sargent, a spokesman for Giddens, said the distributions would be "completed as promptly as possible."

    Leftover money in the estate will go toward repaying roughly 12,000 non-customer general creditor claims. It remains unclear how much money will be available to those customers.

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    • Maybe you pumpers are right! I have a few shares here...hehe.

      June 14, 2013- Trustee’s Ninth Interim Report for the Period October 25, 2012 through June 14, 2013

      The estate is now maximizing general estate assets and processing general
      estate claims as rapidly as possible. While the Trustee’s and SIPC’s efforts are now
      primarily focused on general creditors.

      • 1 Reply to jeffhinton28
      • Obtained Court approval for the allocation of some $25 billion dollars of cash and
        securities to the fund of customer property and to the general estate, and the
        establishment of a methodology for the treatment of post-petition dividends and
        interest. This allocation, which was unprecedented in its complexity, impacts all
        customers and general creditors of the estate, yet was also presented to the Court
        without any pending objection;