Lehman Brothers Financial SA (LEHNQ)

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SOME INSTITUTIONS OF LBT CLAIMS GETTING SUBSTITUTE NOTE FROM LBHI

Partial Wind-Down of the LBT Estate
In the partial wind-down, qualifying creditors could apply to maintain their claims
against LBT. Those who did not qualify, which included Meteor, or did not apply
to maintain their claims received a final distribution.
The final distribution was funded by LBT selling a proportionate share of its
Class 4A Claim against LBHI to third party purchasers. The proportion of the
Class 4A Claim which was sold was based on the relative claims values of
those creditors who maintained their claims and those that did not.
The final distribution was paid by LBT in May 2019.
We will no longer receive distributions from LBT but will continue to receive
distributions from the Class 5 Guarantee Claim made to LBHI in respect of its
role a guarantor of LBT securities.

https://www.meteoram.com/uploads/files/Lehman_Brothers_Distributions_General_Information_post_LBT_final.pdf

https://www.meteoram.com/advisers/lehman-brothers-update2

in January 2019, announced plans to cancel all
existing Notes and issue Substitute Notes in their place. The Substitute Notes would be
Dollar denominated and distributions will be paid in Dollars.
It also wished to rationalise its creditor population and offered the Substitute Notes only to
Qualifying Noteholders which are principally large financial institutions holding existing
Notes with large claim valuations. The Notes were offered in a solicitation process which
ended in March.

https://www.meteoram.com/uploads/files/LBT_Final_paid_May_2019.pdf