Replies to post #108827 on Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

February 26, 2014 
 LEHMAN BROTHERS HOLDINGS INC., AS PLAN ADMINISTRATOR 
 RESPONSE TO QUESTIONS RECEIVED FROM CREDITORS 
 The reader should refer to the respective documents referenced herein. Capitalized terms used but not  
 defined herein shall have the meanings ascribed to them in the Modified Third Amended Joint Chapter 11  
 Plan of Lehman Brothers Holdings Inc. and Its Affiliated Debtors (the “Plan”). The response below is not  
 provided for and should not be relied upon for investment guidance. The response is subject to change  
 from time to time, without prior notice.  
 (1) Are the holders of the following securities (the “Trust Preferred Securities”) likely to receive  
 any recoveries?  
 Ticker Cusip Number Issuer/Trust 
 LEHKQ 52519Y209 Lehman Brothers Holdings Capital Trust III 
 LEHLQ 52520B206 Lehman Brothers Holdings Capital Trust IV 
 LHHMQ 52520E200 Lehman Brothers Holdings Capital Trust V 
 LEHNQ 52520X208 Lehman Brothers Holdings Capital Trust VI 
 Response: The Trust Preferred Securities were issued by the non-Debtor entities identified above  
 (the “Trusts”). Based on relevant prospectuses, the sole assets of the Trusts were certain  
 subordinated debt securities (the “Subordinated Securities”) issued by Lehman Brothers Holdings  
 Inc. (“LBHI”). Under the Plan, claims against LBHI on account of the Subordinated Securities  
 have been classified in LBHI Class 10B. Based on the 2013+ Cash Flow Estimates filed on July  
 23, 2013 [ECF No. 38954], it is unlikely that the Trusts will receive any Distributions from LBHI  
 on account of their class 10B claims. LBHI is not aware of any other assets currently owned or  
 expected to be realized by the Trusts.

PricewaterhouseCoopers LLP, 7 More London Riverside, London SE1 2RT
T: [phone], F: [phone], www.pwc.co.uk
PricewaterhouseCoopers LLP is a limited liability partnership registered in England with registered number OC303525. The registered office of
PricewaterhouseCoopers LLP is 1 Embankment Place, London WC2N 6RH. PricewaterhouseCoopers LLP is authorised and regulated by the Financial Conduct Authority for designated
investment business.
NOTICE OF DECLARATION OF A DIVIDEND PURSUANT TO RULE 14.35 OF
THE INSOLVENCY (ENGLAND AND WALES) RULES 2016
LEHMAN BROTHERS HOLDINGS PLC - IN ADMINISTRATION
REGISTERED NO: 01854685
REGISTERED ADDRESS: 7 MORE LONDON RIVERSIDE, LONDON SE1 2RT
IN THE HIGH COURT OF JUSTICE, CHANCERY DIVISION, COMPANIES COURT
No. 7943 OF 2008 / CR-2008-000026
Notice is hereby given pursuant to Rule 14.35 of the Insolvency (England and Wales) Rules 2016
that an eighth interim dividend to unsecured, non-preferential creditors has been declared.
The eighth interim dividend comprises the following:
1. A further share of the statutory interest entitlements of the Company’s unsecured, non-
preferential unsubordinated creditors. The gross amount of the distribution to the
Company’s unsubordinated, unsecured creditors is £24,374,912, with the net amount being
£24,374,743, after holding back a provision in relation to UK tax.
2. A distribution in respect of the Company’s unsecured, non-preferential subordinated
liabilities in accordance with the Framework Agreement recently entered into by, amongst
others, the Company and LB GP No1 Limited (in liquidation), Lehman Brothers UK Capital
Funding LP, Lehman Brothers UK Capital Funding II LP, Lehman Brothers UK Capital
Funding III LP and LBHI as the holders of relevant subordinated liabilities. In accordance
with the Framework Agreement (about which prior notifications have been published on
the website maintained by the Joint Administrators), a total of £187,187,072 is being
distributed in respect of the Company’s unsecured, non-preferential subordinated
liabilities.
In total, a gross amount of £211,561,984 is available for distribution with the net amount of
£211,561,815, after holding back a provision in relation to UK tax, being distributed by way of
dividend in respect of admitted claims. There is no prescribed part, as there is no floating charge.
The Joint Administrators have retained reserves of £35.6m in order to provide for further costs and
potential claims in the estate.
Payments are being made commencing on or around 23 November 2023. The Joint Administrators are
unable to estimate the likely timing or quantum of any future dividends.
The Joint Administrators’ receipts and payments account from the commencement of the
Administration on 15 September 2008 to 17 November 2023 is attached.
For further information, contact details, [and proof of debt forms], please visit
http://www.pwc.co.uk/services/business-recovery/administrations/lehman/lbh- plc-in-
Administration.html. Alternatively, please send an email to [e-mail] for the
attention of Diane Adebowale.

[stoxjock]

"That's what has
24 occurred here.
25 In fact, this case is coming to its conclusion.
Page 86"

I get what you are saying Cotton. While the UK Judges have always been very transparent and in Fact severely admonished the Litigating parties for indulging in 'any Secret Agreements', the US BK Judges have not been so. The US BK Judges have always been in the pockets of Corporate Lawyers and against the Shareholders. While you have pointed to what the US Judge said above and seem to be deriving some consolation from it, IMO, she has definitely 'mis-stated' the actual facts and definitely 'mis-lead' us US CT holders by stating 'this case is coming to its conclusion' While the Fact is we are still 'wallowing' more than 4 years after her above statement!