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Lehman Brothers - updated 22 October 2008
A number of Meteor's plans have invested in securities issued by two Lehman Brothers subsidiaries, Lehman Bothers Securities NV ("LBS") and Lehman Brothers Treasury Co BV ("LBT"), both guaranteed by Lehman Brothers Holidings Inc ("LBHI"). LBHI filed for Chapter 11 on 15 September 2008. At present LBS is still trading, but LBT is in the process of liquidation. It is now known that substantially all of the assets held by LBT are debts owed by other Lehman entities, but it is too early to tell the level of recoverability. The management of LBS are still reviewing that company's solvency. We are in contact with the management of LBS and the administrator of LBT and will continue to monitor the situation and provide updates.
We have prepared a note with further information on the situation with some questions and answers.
If you would like to receive updates on the situation as we are able to give them by email please complete the form below (this is for advisors and investors only - if we can't identify you from your name and company (advisors) or account number (investors) we will not add you to the database):
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