Lehman, whose September 2008 collapse is often regarded as the height of the financial crisis, will start distributing what it expects to be a total of about $65 billion to creditors on April 17, it said in a statement.
That first group of payments to creditors, many of whom lost money in its collapse 3-1/2 years ago, will be at least $10 billion, Lehman has said previously.
The move is a legal milestone, but does not indicate the immediate end of Lehman Brothers. The company will continue to operate, in the same midtown Manhattan headquarters it was in before bankruptcy, albeit on fewer floors, as it sells off its remaining assets before finally closing up shop.
From reuters.com
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