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ยป VISIT US ONLINE @ DSNEWS.COM 79 79 NEW YORK Lehman Brothers Accepts Settlement, Agrees to Pay $2.4B Fourteen investors represented by Gibbs & Bruns LLP, a litigation boutique engaged in business and commercial litigation, announced in June that the trustees have accepted the settlement offer from the Plan Administrator for Lehman Brothers Holdings Inc., a global financial services firm that declared bankruptcy in 2008. e settlement will pay out a minimum of $2.4 billion, subject to a judge's approval. e counsel for the Institutional Investors, Robert Madden, called the announcement "an important step in finally resolving the Lehman RMBS claims and obtaining value for certificate holders in the trusts." e settlement agreement was accepted and entered into by the trustees for the 238 trusts. e Institutional Investors who are parties to the agreement include AEGON USA Investment Management, LLC; BlackRock Financial Management, Inc.; Cascade Investment, LLC; Federal Home Loan Bank of Atlanta; Goldman Sachs Asset Management, LP; Invesco Advisers, Inc.; Kore Advisors, LP; Metropolitan Life Insurance Company; Pa- cific Investment Management Company, LLC; Sealink Desig- nated Activity Company, through its investment manager, Neu- berger Berman Europe Limited; e TCW Group, Inc.; rivent Financial for Lutherans; Voya Investment Management, LLC, and Western Asset Management Company. e payout will be distributed after the bankruptcy court determines the allowable amount of the claim and all required court approvals have become final. When this will happen is not certain due to whether the judicial findings required by the settlement agreement are granted, when the estimation proceeding to set the amount of the allowed claim is concluded, whether the amount estimated and allowed is subject to appeal, and certain required REMIC determinations. e Institutional Investors will not benefit differently than other investors under the settlement. Each RMBS trust's allocable share of the settlement payment will flow down its payment waterfall according to the governing documents of that trust.