LATEST NEWS: LBT commences distribution payments, LBS announces initial distribution rate.
On 9th May 2013 Meteor received its first distribution payments from Lehman Brothers Treasury B.V. (“LBT”). The amounts paid were a little over 12.1% of the LBT Acknowledged Claim Amounts for each LBT security. LBT Claim Amounts are based on LBT’s valuation for each security and are expressed in Euros. They are not the same as the LBHI or LBS valuations. The payments are being processed and allocated to individual Accounts and, where we have received payment instructions, will be paid to customers as soon as possible.
On 6th May 2013 Lehman Brothers Securities N.V. (“LBS”) announced that it had filed a list of initial distributions with the Court. LBS has indicated that its first distribution will be 11.4% of the LBS claim amounts for each LBS security. LBS Claim Amounts are based on LBS’ valuation for each security and are expressed in US Dollars. They are not the same as the LBHI or LBT valuations. On 17th May 2013, LBS is scheduled to announce the payment dates for the distribution, which will be paid to Meteor in US Dollars. Meteor will convert the receipts to Sterling before allocating to individual Accounts.
On 4th April 2013, Lehman Brothers Holdings Inc (“LBHI”), the US based Lehman parent company paid its third distribution. The amounts paid were a little over 3.076% of the LBHI Allowable Claim Amounts referred to in previous updates. The distribution amounts have been processed and allocated to individual Accounts and, where we have received payment instructions, paid to customers. The total paid by LBHI to date is slightly over 9.121% of the LBHI Allowable Claim Amounts.
The securities in respect of our Lehman affected Plans were issued by either LBT or LBS. In both cases, the guarantor of the obligations of LBT and LBS to meet the payments due from the Securities was LBHI. Individual Accounts will hold either LBS or LBT securities, never both. Accounts holding securities originally issued by LBS will therefore receive distributions from LBHI and LBS, Accounts holding LBT securities will receive distributions from LBHI and LBT.
Customers who have not given payment instructions should contact us to arrange the receipt of distributions
Please click on the PDF links below to access previous Lehman updates.
January 2013 Lehman Update (LBT)
January 2013 Lehman update (LBS)
October 2012 Lehman Update
June 2012 Lehman Update (LBT)
June 2012 Lehman Update (LBS)
June 2012 Lehman Update (LBT USD)
March 2012 Lehman Update
October 2011 Lehman Update
February 2011 Lehman Update
April 2010 Lehman Update
July 2009 Lehman Update