Defunct brokerage Lehman Brothers’ hedge fund clients are set to get back all of their money from the bank.
Lehman trustee James Giddens said in a statement Friday that final distributions for the brokerage bank’s institutional customers, including hedge funds and banks, began that day and was “made possible” by a three-way settlement between himself, the Lehman holding company and Lehman’s U.K. unit.
110,000 retail customers received their money back weeks after Lehman’s 2008 collapse with more than $92 billion in distributions. The addition of current distributions of institutions customers would bring the total to more than $100 billion.
Giddens also said in the statement that the team “have overcome enormous complexities and unprecedented legal challenges to meet the goal of 100% distribution to customers.”
Lehman’s collapse remains the largest bankruptcy filing in U.S. history.