Deutsche Bank AG wants to buy out Lehman Brothers Inc. claimants as the defunct brokerage’s liquidation draws to a close, WSJ Pro Bankruptcy reported. Deutsche Bank’s London branch beat out five other bidders competing to make a cash offer to holders of unsecured claims against the Lehman Brothers bankruptcy estate, according to court papers filed Monday by liquidating trustee James Giddens. Giddens is nearing the conclusion of a decade-long wind-down of Lehman Brothers, the brokerage unit of Lehman Brothers Holdings Inc. He is planning to distribute $170 million distribution, his sixth payout to creditors, which would bring recoveries on unsecured claims to 39.75 cents on the dollar from 39 cents. Priority creditors have already been paid in full.
