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Lehman’s huge NYC tax bill

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New York City wants Lehman Brothers’ outstanding tax bill paid off now–or at least before any other creditor gets money in the bankruptcy case.

Earlier this month, the city tax office filed a $626,999,222 claim against Lehman’s bankruptcy estate. In the official notice, NYC says its claim should be “allowed and paid in full as a priority claim in advance of any distribution to creditors.”

The claim form also gives a Brooklyn, NY address for the NYC Dept. of Finance where a check can be mailed to.

Now, the city shouldn’t expect its check to arrive in the mail anytime soon. It’s been more than 9 months since Lehman collapsed in bankruptcy and the mega-case is nowhere nearing being completed. In fact, big creditor claims keep coming in every day.

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