Replies to post #85605 on Lehman Brothers Financial SA (LEHNQ)

[Jimzin]

Looks like some big news brother Cotton! Git'em BLUE!
but I lost my deep undercover secret spy black ops decoder ring...can you esplain for me?

Cheers!

[stockanalyze]

cotton, would it help if we file the same letter as yours? where do you think we are at this point?

[camaro4me]

First time I've seen us get a break.

MEMO ENDORSEMENT on re:8 Letter, filed by Dan Ianello. ENDORSEMENT: The court notes that Mr. Ianello filed his brief on September 16, 2019. Dkt 14. The court will accept it as timely filed but reminds Mr. lanello to adhere to all future deadlines. Appellee's opposition is now due by 10/16/2019 and Appellant's reply brief is due by 10/30/2019. SO ORDERED.

[cottonisking]

I agree... "it is the Holders of the Securities that
have standing to enforce the subordinated guarantee."

Monitor case 19-cv-06397

***

"lEHMAN BROTHERS UK CAPITAL FUNDING lP ("lP I")
EUR 225,000,000 FIXED RATE TO CMS-LiNKED GUARANTEED NON-VOTING, NON-CUMULATIVE
PERPETUAL PREFERRED SECURITIES ("lP I PREFERRED SECURITIES")
ISIN XS0215349357
25 September 2019
Notice to Holders
Liquidation of lB GP No.1 Ltd ("the Company") and implications for holders of lP I Preferred
Securities

.
.
.
POTENTIAL CLAIMS AGAINST THIRD PARTIES (SUBORDINATED GUARANTEE)
4.11 LBH provided a subordinated guarantee to the Holders of the Securities in relation to
LP I, LP II and LP III. The wording of the subordinated guarantee included in the
prospectus suggests that the Holders of the Securities issued by LP I, LP II and LP III
have subordinated guarantee claims against LBH, although it is unclear how those
claims would be made in practice. Holders of the relevant Securities should take their
own independent legal advice in relation to the subordinated guarantee and any claims
they may wish to make (including whether claims could potentially be made against
any other entity within the Group pursuant to any intra Group guarantees). The Joint
8
Liquidators' initial assessment is that the Company has no separate right to make a
claim pursuant to the subordinated guarantee and it is the Holders of the Securities that
have standing to enforce the subordinated guarantee.
4.12 LBHI also provided a subordinated guarantee to the Holders of the Preferred Securities
in relation to LP IV and LP V. Please see paragraph 4.11 above as the Joint Liquidators'
initial assessment is the same for LP IV and LP V and accordingly Holders of the
relevant Securities should take their own independent legal advice in relation to the
subordinated guarantee and any claims they may wish to make."




https://www.rns-pdf.londonstockexchange.com/rns/6600N_1-2019-9-25.pdf

Thanks for the link Argus63!