Lehman Brothers Financial SA (LEHNQ)

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BNYM's Opinion, From Page 3:

15 details of what happened after that ...
16 MR JUSTICE HILDYARD: No, I don’t think so, providing
17 everyone is content that all parties who think they may
18 have an interest in arguing the contrary knew this was
19 the time to come and say so.
20 MR BELTRAMI: My Lord, yes.
21 MR JUSTICE HILDYARD: And very closely related to that is
22 that the legal holders I think of the ECAPS notes, who
23 I think are BNY Mellon, are they?
24 MR BELTRAMI: Yes.
25 MR JUSTICE HILDYARD: And they -- I hope I don’t slight them
6
1 or misrepresent the position to say that they have been
2 very interested to know that they will not be liable for
3 any costs in respect of it , and that apart from that,
4 they are willing to go along with it , if I can put it
5 that way.
6 MR BELTRAMI: Yes. My Lord, the holder became relevant.
7 Normally the way things work, as your Lordship knows,
8 not irrelevant but not the main event. The holder
9 became relevant because of issues 4 and 5. Issues 4 and
10 5 alleged a trust in relation to monies received --
11 MR JUSTICE HILDYARD: Yes, exactly, and whether you had to
12 turn over.