LBIE paid out $17.2 billion to date to creditors
Lehman Brothers International (Europe) (LBIE) has collected more than $48.6 billion of assets and cash up until March 14, and $17.2 billion has been distributed to creditors, according to a progress report by the administrators of LBIE, published on April 15.
The latest update also reveals assets have begun to be returned under the claim resolution agreement (CRA) - a scheme designed to expedite the return of trust assets to secured creditors - following the passing of the bar date of March 19.
"The bar date for the CRA has passed and we've begun to return assets to trust creditors. We're now focusing on dealing with up to 6,000 unsecured creditor claims. At the heart of this will be resolving disputes on valuation and finding a mechanic for reaching
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