Lehman Brothers to Pay Out Debts in Win for Deutsche Bank (1)

Deutsche Bank AG and other creditors holding obscure notes issued by Lehman Brothers before its collapse have been handed a big win by a London court, with a first payout set for next month after years of wrangling.

The Enhanced Capital Advantaged Preferred Securities (ECAPS), once regarded as worthless and sold for next-to-nothing, could pay out more than £390 million ($495 million), according to a ruling Wednesday from the UK’s High Court and Bloomberg’s calculations. That would be more than double what investors were awarded by a previous court decision.

This marks one of the final issues to be decided ...