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Lehman Brothers to pay another $10.5 billion to creditors

The failed investment bank will dole out the sum in an Oct. 1 distribution, the second since its September 2008 collapse

Lehman Brothers Holdings Inc. announced Tuesday that it will pay various creditors $10.5 billion in its second round of distributions since filing for bankruptcy.

Of that total, $10.2 billion will go to both third-party creditors and Lehman affiliates and subsidiaries. The defunct investment bank also will pay $328 million for recently allowed claims that had not been approved at the time of an initial $22.5 billion distribution in April, and reserve an additional $1.7 billion in cash for disputed claims.

Alanna Byrne

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