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

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedging Against Reputational Risk in the 21st Century

Feb 12 2016 | 7:18pm ET

For investors, the first step in researching a new fund or manager is to google...