Lehman Brothers Holdings Inc., which is due to make a third payment to creditors in March, had $5.6 billion in free cash on Nov. 30, an increase of $1.1 billion during the month, Bloomberg News reported yesterday. Cash that was restricted, or unavailable at Lehman and its affiliates was $13.7 billion, including $5.8 billion set aside for disputed claims, according to a post-bankruptcy report filed in court yesterday. The defunct investment bank, which has already paid creditors half of the $65 billion it aims to pay by 2016 or so, last month agreed to sell its Archstone Inc. unit for $6.5 billion to AvalonBay Communities Inc. and Sam Zell’s Equity Residential, scrapping plans for an initial public offering after a four-month slide in U.S. apartment stocks. Lehman also has been whittling down claims by some creditors, which would potentially add cash for distribution.
