Replies to post #96204 on Lehman Brothers Financial SA (LEHNQ)

[SwissCheeseAccount]

https://www.pwc.co.uk/business-recovery/administrations/lehman/lbie_25th_progress_report_13_apr_2021.pdf

The Administrators consider that the objective of the
Administration is to rescue the company as a going concern as
approved by the Chancellor of the High Court on 15 July 2020 in
the context of a directions application in relation to preferred
equity distributions.

Managing the affairs of the company continues to sit with the
Administrators until such time as LBIE exits administration; and
is returned fully as a solvent entity to the control of directors to
be managed as a going concern for the benefit of the
Shareholder

>>>

They have no intention of continuing as an ongoing business.

Objective being pursued by the
Administrators:
Rescuing the company as a going concern. There are a number of important ongoing
interactions with counter parties and the courts that need to be progressed making it
difficult to predict precisely when the Administration will be brought to an end and passed
to the LBIE directors to continue as a going concern

last quote:

LBHI Lehman Brothers
Holdings Inc.
Ultimate parent of the Lehman group, incorporated in the USA and formerly
subject to Chapter 11 bankruptcy protection from 15 September 2008. LBHI’s
plan of reorganisation became effective on 6 March 2012