Notices Notice Regarding a Settlement Offer Concerning Certain Transferor Loan Claims Against the LBHI Debtors, Dated September 7, 2017
Notice Regarding Acceptance of the Proposed RMBS Trust Settlement Agreement, Dated June 1, 2017
Notice Of Motion Of Lehman Brothers Holdings Inc. Pursuant To Fed. R. Bankr. P. 9019 And 11 U.S.C. § 105(A) For Entry Of Order Approving RMBS Settlement Agreement
LBHI RMBS Trustees’ Notice of Motion Seeking Approval of Settlement in Lehman Bankruptcy Cases
Notice Providing Further Information About the Proposed RMBS Trust Settlement Agreement, Dated April 21, 2017
Notice Regarding Receipt of a Settlement Offer Concerning Certain Claims Against the LBHI Debtors Belonging to the RMBS Trustees, Dated March 20, 2017
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By decision dated February 22, 2017, In re Lehman Bros. Holdings, Inc., 566 B.R. 353 (S.D.N.Y. 2017) (the “District Court Decision”), the District Court affirmed the Disallowance Order. On March 17, 2017, the Institutional Investors submitted to the RMBS Trustees an RMBS Trust Settlement Agreement, dated as of November 30, 2016, and modified as of March 17, 2017 (the “March 2017 Proposal”). Following the District Court Decision, the March 2017 Proposal deleted from the November 2016 Proposal the resolution of the Transferor Loan Claims (and contemplated releases relating thereto) and, accordingly, reduced the amount that the LBHI Debtors would seek to estimate the allowed claim by $24 million, from $2.44 billion to $2.416 billion. On June 1, 2017, the RMBS Trustees notified the LBHI Debtors and the Institutional Investors that, subject to the conditions set forth in the executed RMBS Trust Settlement Agreement, dated as of November 30, 2016, and modified as of March 17, 2017 (the “Covered Loan Settlement Agreement”), they accepted the March 17 Proposal with respect to certain Covered Loan Claims. The Covered Loan Settlement Agreement does not resolve the Transferor Loan Claims. On March 24, 2017, the RMBS Trustees filed a notice of appeal (the “Appeal”) of the District Court Decision to the United States Court of Appeals for the Second Circuit. The Appeal remains pending. THIS NOTICE CONCERNS A SETTLEMENT OFFER FOR THE TRANSFEROR LOAN CLAIMS. IN ORDER TO BIND ANY TRUST OR RELATED CERTIFICATEHOLDERS, THE PROPOSED SETTLEMENT AGREEMENT MUST BE ACCEPTED ON A FINAL BASIS, IF AT ALL,ON OR BEFORE OCTOBER 13, 2017. IF FINALLY ACCEPTED BY THE RMBS TRUSTEES, THE PROPOSED SETTLEMENT AGREEMENT WOULD BIND THE ACCEPTING TRUSTS AND RELATED CERTIFICATEHOLDERS.
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THE SETTLEMENT OFFER AND THE PROPOSED SETTLEMENT AGREEMENT The LBHI Debtors have submitted to the RMBS Trustees a settlement offer concerning the Transferor Loan Claims (the “Settlement Offer”) in the form of a Settlement Agreement dated September 5, 2017 (the “Proposed Settlement Agreement”). Based on input from their financial experts, Duff & Phelps LLC and the advice of their respective legal counsel, the RMBS Trustees are inclined to accept the Settlement Offer on the Acceptance Date (as defined below) for each Trust for which they are RMBS Trustees. However, the RMBS Trustees are issuing this Notice to all Certificateholders and other interested parties so that they have the opportunity to provide input to the RMBS Trustees about whether to accept or reject the Settlement Offer. A copy of the Proposed Settlement Agreement is available at the RMBS Trustees’ Website at the tab entitled “Transferor Loan Settlement Agreement and Certain Relevant Documents” (available at www.LBHIrmbssettlement.com/pdflib/Proposed_Transferor_Settlement_Agreement.pdf).
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