Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

WITHOUT PREJUDICE
SUBJECT TO CONTRACT
4
appealable order or decision of the
court/appellate court having the effect that
statutory interest payable on the claim in respect
of the PLC Sub-Notes (“Claim D”) falls to be paid
in priority to the principal amount of the PLC
Sub-Debt (“Claim C”) (an “ECAPS Outcome”)), to
be applied:
👉️i. 94% to GP1; and
👉️ii. 6% to LBHI.
b. If LBHI prevails in relation to Priority Legal Issue 1
(in the form of a final and non-appealable order
or decision of the court/appellate court having
the effect that the principal amount of Claim C
falls to be paid in priority to statutory interest
payable on Claim D) (an “LBHI Outcome”), 100%
to LBHI.
Once Tier Y Distributions in respect of (a) or (b) above
have been made which👉️ total £225m (the “Maximum
Tier Y Distributions”), any further distributions shall
be Tier Z Distributions (defined below).

1) LBHI2 2/9/2024 Distributions' Notice:


https://www.pwc.co.uk/services/business-restructuring/administrations/non-lbie-companies/lbhi2-limited-in-administration/dividends-to-creditors.html



2) LBH PLC 2/15/2024 Distributions' Notice:

https://www.pwc.co.uk/services/business-restructuring/administrations/non-lbie-companies/lbh-plc-in-administration/dividends-to-creditors.html