A judge yesterday said that the trustee unwinding Lehman Brothers Inc. could create a $3 billion-plus fund to pay back unsecured creditors of the brokerage, Dow Jones Daily Bankruptcy Review reported today. A spokesman for James W. Giddens, the trustee in charge of the brokerage, said Bankruptcy Judge Shelley C. Chapman approved the creation of the fund at a hearing yesterday. Giddens said that he expects the distribution to begin in September, marking the first time he has put a timetable on it.
