Lehman pays another $10.5bn

Lehman Brothers said yesterday it will pay about $10.5bn (£6.5bn) to its creditors from early next month, the second tranche of the bank’s $65bn payout stemming from its 2008 collapse. Lehman will distribute the money to affiliates and subsidiaries, as well as to third-party creditors, according to a filing in Manhattan bankruptcy court. The total payout is much less than the $300bn originally claimed against Lehman.