NEW ORLEANS (Reuters) - The number of bankruptcyclaims that traded sank to a year low in August as more bigcompanies emerged from Chapter 11 and transfers of claimsagainst Lehman Brothers Holding Inc cooled,according to data released Wednesday.
The total number of claims traded slumped to 656 from 729in July, according to data from SecondMarket, which runs abankruptcy claims trading exchange.
The value of the claims plummeted to $2.65 billion from$12.7 billion in July. However, the July figure was inflated bya few huge trades in claims stemming from the Lehman Brothersbankruptcy.
The August value was within the typical $2 billion to $3billion range that has marked trading over the past sixmonths.
Lehman Brothers, the largest bankruptcy in U.S. history,topped the list of most actively traded cases, as it does everymonth. Other actively traded cases included casino-resortFontainebleau Las Vegas Holdings LLC, media company Tribune Co,retailer Circuit City Stores Inc and newsprint makerAbitibiBowater Inc.
Motors Liquidation Co, the bankrupt shell ofGeneral Motors Corp, had among the largest claims traded,averaging around $13 million.
August trading continued to reflect actively traded casesemerging or about to emerge from bankruptcy. Smurfit StoneContainer Corp, General Growth Properties Inc and Six Flags Incwere among the more actively traded cases earlier this year,but among them had only six claims traded in August. (Reporting By Tom Hals; Editing by Phil Berlowitz)