Lehman Trustee Begins Full Paybacks To Hedge Funds

Jun 7 2013 | 1:30pm ET

Lehman Brothers' hedge fund clients are set to get all of their money back from the defunct bank—and soon.

Lehman trustee James Giddens said yesterday that he had begun cutting checks that will make institutional clients, including banks and hedge funds, whole. The money will come from the final liquidation of Lehman's brokerage business.

"Distributions from the LBI estate will stand as the largest return of property in history to former customers of a broker-dealer following a bankruptcy and liquidation proceeding," Giddens said.

Lehman's prime brokerage customers have had their money tied up since the bank collapsed nearly five years ago.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...