Lehman Trustee Plans $4 Billion Payout to Brokerage Creditors

The official winding down Lehman Brothers Holdings Inc.’s brokerage business says he plans to return more than $4 billion in cash to former employees and other creditors. James W. Giddens, the court-appointed trustee winding down Lehman’s broker-dealer, said in a statement Wednesday that now that he’s made whole the failed brokerage’s customers, he can turn his full attention to creditors. “With the return of 100 percent of customers’ assets, we are now able to lay out a clear plan for winding down the general estate and distributing assets to general creditors as quickly as possible,” Mr. Giddens said. More in the Wall Street Journal here.