Australasian Lehman Brothers investors to get $A100 million
A group of Australian and New Zealand investors in failed US giant Lehman brothers will get up to 85Ac in the dollar back.
A group of New Zealand and Australian investors in collapsed financial giant Lehman Brothers will get $A100 million out of $A125 million invested between 2005 and 2007.
The payout was agreed to in a settlement between Lehman’s liquidator and the Australian trustee of the notes, Perpetual Trustee Company.
It will affect about 1000 retail investors including charities, local councils and superannuation funds.
Although the settlement was reached in November last year, terms of the deal have been confidential until now.
Investors in Mahogany Capital notes series one worth $A75 million will get up to 85Ac in the dollar, while investors in Mahogany Notes series two will get 69c in the dollar of their $A50 million investment.
Lehman Brothers filed for bankruptcy in September 2008 in one of the largest company failures in history.
NBR staff
Tue, 17 May 2011
Tue, 17 May 2011
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Australasian Lehman Brothers investors to get $A100 million
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