Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

Continue into March 2021 with the power of summary judgment,

"The parties to the Clawback Proceedings agreed on a stipulation of facts and completed discovery and
deposition processes, in preparation for a Summary Judgment motion that was scheduled to be heard on 13
January 2021.
During the period leading up to the Summary Judgment motion hearing, negotiations continued between LBHI,
the Company, and the other Lehman UK affiliate entities that were party to the Clawback Proceedings, with a
view to settling the Clawback Proceedings. Following the end of the Reporting Period, a settlement of the
Clawback Proceedings was agreed between the parties and approved by the NY Bankruptcy Court. Pursuant
to the terms of the Settlement Agreement, the Clawback Proceedings will be dismissed once all of the payment
obligations have been discharged. As part of the terms of the settlement, the Company agreed to make a
payment of $90 million to LBHI. Such payment was made on 27 January 2021."



LBHI2 Progress Report which appears at: https://www.pwc.co.uk/business-recovery/administrations/assets/lbhi2-24th-report.pdf