Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

"$34,548,000,000, the allowance of certain Claims asserted by certain Debtors against LBT"

If LBHI or LBHI's affiliates hold LBT class 4A claims against LBHI, they will receive a windfall of cash or substitute notes (57% or less below).


***

"LBT has entered into agreements with investors holding claims against LBT, pursuant to which those creditors have agreed to elect to receive substitute notes, when properly solicited to do so. On this basis, it is expected that no more than 57% of LBT’s Class 4A Claim should be available for sale. The actual amount of LBT’s Class 4A Claim available for sale may be less than that, after giving effect to the solicitation process.

LBT is in the process of retaining Seaport Loan Products LLC as its exclusive placement agent in connection with any such sale. Deutsche Bank AG (London) has been retained as consent agent.

LBT expects to commence and finalize the solicitation and sales process in the first four months of 2019."

***

Argus63 Friday, 12/14/18 12:41:43 PM
Re: None 0
Post # of 81582

Cash payouts announced by LBT.

https://www.businesswire.com/news/home/20181214005411/en/Lehman-Brothers-Treasury-Announces-Plans-Partial-Wind-Down

GLTA"
****


"DEBTORS’ DISCLOSURE STATEMENT FOR

THIRD AMENDED JOINT CHAPTER 11 PLAN OF LEHMAN

BROTHERS HOLDINGS INC. AND ITS AFFILIATED DEBTORS

PURSUANT TO SECTION 1125 OF THE BANKRUPTCY CODE

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(iii) The LBT Settlement Agreement is incorporated in the Plan. The LBT Settlement Agreement provides for the allowance of certain claims of LBT, including, without limitation, an Allowed Senior Affiliate Claim of LBT against LBHI in LBHI Class 4A in the amount of $34,548,000,000, the allowance of certain Claims asserted by certain Debtors against LBT, the exchange of mutual releases between the Debtors and LBT and other material terms and conditions, all as more fully set forth in the LBT Settlement Agreement. Additionally, pursuant to the LBT Settlement Agreement, Sections 8.10, 8.14, 8.15 and 13.8 of



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the Plan shall not apply to LBT or the Allowed Senior Affiliate Claim of LBT and holders of Allowed Guarantee Claims for which LBT is the Primary Obligor shall not be subject to Section 8.13(e) of the Plan.

(iv) LBSN shall not be subject to Sections 8.10, 8.14 and 8.15 of the Plan.
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(xvii) LBHI Class 12- Equity Interests in LBHI

Equity Interests in LBHI includes any shares of common stock, preferred stock, other form of ownership interest, or any interest or right to convert into such an equity or ownership interest or acquire any equity or ownership interest, including, without limitation, vested and/or unvested restricted stock units, contingent stock awards, contingent equity awards, performance stock units, and stock options or restricted stock awards granted under management ownership plans, that was in existence immediately prior to or on LBHI’s Commencement Date. Equity Interests also include Allowed Claims against LBHI arising out of, or relating to, or in connection with any of the foregoing that are subject to section 510(b) of the Bankruptcy Code. Holders of Equity Interests in LBHI are not expected to receive any Distributions under the Plan.

On the Effective Date, all LBHI Stock shall be cancelled and the Plan Trust Stock shall be issued to the Plan Trust which will hold such share for the benefit of the holders of such former LBHI Stock consistent with their former relative priority and economic entitlements; provided, however, that the Plan Trust may not exercise any voting rights appurtenant thereto in conflict with Article VII of the Plan. Each holder of an Equity Interest in LBHI (through their interest in the new share of LBHI common stock or otherwise) shall neither receive nor retain any Property of the Estate or direct interest in Property of the Estate of LBHI or interest in property on account of such Equity Interests; provided, however, that in the event that all Allowed Claims in LBHI Classes 1 through 11 have been satisfied in full in accordance with the Bankruptcy Code and the Plan, each holder of an Equity Interest in LBHI may receive its share of any remaining assets of LBHI consistent with such holder’s rights of payment existing immediately prior to the Commencement Date. Unless otherwise determined by the Plan Administrator, on the date that LBHI’s Chapter 11 Case is closed in accordance with Section 6.6 of the Plan, the Plan Trust Stock issued pursuant to this section 4.17(b) of the Plan shall be



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deemed cancelled and of no further force and effect provided that such cancellation does not adversely impact the Debtors’ estates. The continuing rights of holders of Equity Interests (including through their interest in the Plan Trust Stock or otherwise) will be nontransferable, except by operation of law. Equity Interests in LBHI Class 12 are impaired by the Plan. Because holders of these Equity Interests are not expected to receive any Distributions on account of such Equity Interests, they are deemed to reject the Plan.
"

https://www.sec.gov/Archives/edgar/data/806085/000119312511239866/dex991.htm