The liquidation of Lehman Brothers Holdings Inc’s brokerage unit could end in 2019, 11 years after its parent’s bankruptcy became a primary cause of the global financial crisis, Reuters reported. James Giddens, the trustee overseeing the liquidation, said yesterday that just 381 of the roughly 140,000 claims against the brokerage remain unresolved. Customers and secured creditors have been repaid in full. Unsecured creditors have received about $9 billion, or 39.75 cents on the dollar, roughly double what was once expected. In a filing with the U.S. bankruptcy court in Manhattan, Giddens said that the wind-down is in its final phase, and that resolving all claims and making a final payout “could occur in the next year” if the court’s schedule permits. Giddens said the bankruptcy estate still has $543 million of assets.
