Goldman Sachs Buys $57 Million in Claims on Lehman (Update1)

c.2009 Bloomberg News

(Adds Shinkin claim in second paragraph.)

Dec. 29 (Bloomberg) -- A unit of Goldman Sachs Group Inc. bought about $57 million in claims on bankrupt Lehman Brothers Holdings Inc. from Japan's Shinkin Central Bank, according to court filings.

The claims consist of Yen-denominated bonds issued by Lehman with fixed and floating rates, which have matured or come due next year, according to the filings yesterday in U.S. Bankruptcy Court in New York. Shinkin, which acts as the central bank for Shinkin banks, owned $71.2 million of the bonds before the sales to Goldman Sachs & Co., the filings showed.

Lehman claims change hands almost daily, sometimes passing to traders or investors willing to wait for payment. Creditors of Lehman filed $824 billion in claims against the investment bank liquidating in bankruptcy. Lehman hasn't finished examining their claims, and hasn't devised a plan to pay what it can.

Goldman Managing Director Dennis Lafferty and Shinkin General Manager, Treasury Operations Yoichi Tobitsuka, who signed the claim transfer documents, didn't immediately respond to e-mails seeking comment. Lafferty's voicemail box in New York was full and it was after regular business hours in Tokyo.

Lehman filed the biggest U.S. bankruptcy in September 2008 with debt of $613 billion.

The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

For Related News and Information: Lehman bankruptcy stories: LEHMQ US TCNI BCY BN Today's top legal news: TLAW Bloomberg Law: BLAW Top financial news: TOP FIN