BofA is selling a claim of about $800 against Lehman Brothers



image According to the Bloomberg Thursday reported, BofA is selling a claim with a face value of about $800 million that it holds against bankrupt Lehman Brothers. Hedge funds are also the likely buyers.

Over 16,000 claims against Lehman by September 22 deadline had been submitted by creditors from sovereign wealth funds to sports teams.

Bank of America filed a $2.86 billion claim, and its Merrill Lynch International unit filed one for $1.54 billion.

Similar terms Lehman claims are currently selling for about 37 cents on the dollar.

Previously, the largest claim Lehman faced, for at least $48.8 billion, was filed by Wilmington Trust Co as indenture trustee for various Lehman senior notes.

ECJ




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