Lehman Brothers UK Holdings Limited (in administration)

This site provides information regarding the progress of the administration of Lehman Brothers UK Holdings Limited (“LBUKH”).

AV Lomas, MJA Jervis and DA Howell were appointed as Joint Administrators of LBUKH on 29 September 2008 to manage its affairs, business and property as agents without personal liability.  SA Pearson and DY Schwarzmann were appointed as additional Joint Administrators by order of the court on 30 November 2009.  All the Joint Administrators (the “Administrators”) are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.

The Administrators are not currently in a position to give an estimate of the timing or quantum of any dividend to creditors of LBUKH. Furthermore, creditors should be aware that on 13 September 2010 the Pensions Regulator’s determination panel issued a Financial Support Direction (“FSD”) against LBUKH, and five other entities, in relation to the Lehman Brothers Pension Scheme.  The FSD requires financial support to be provided to the pension scheme, in relation to the scheme’s deficit.  LBUKH is appealing against this decision.  A FSD does not create a debt due from the targeted company (LBUKH) to the pension scheme, but such a debt can be imposed by the Pensions Regulator at a later stage of the process.  At present it is not clear how the liability will be divided among the targeted entities.  Any debt would come into existence after the date of Administration, and this creates uncertainty as to the debt’s legal status.

LBUKH Claim Submission Information

LBUKH currently has no formal legal process for agreeing creditors’ claims.  However, the Administrators are collating information with regards to all creditor claims, so that when a formal legal process is in place, adjudication of these claims may be completed in a shorter timeframe.  Therefore, we have provided an LBUKH Statement of Claim form which can be downloaded here.  The Administrators request that all claimants use this form for consistency and future evaluation.  All claims should be submitted with full supporting documentation.  Please execute your Statement of Claim and upload as a PDF and email to the following address: LBUKH@lbia-eu.com.  Claims received by the Administrators will be held on file for future adjudication.

Updates

Creditors are updated on the progress of the administration of LBUKH through the Administrators’ six monthly progress reports and via this website. We encourage creditors who believe they may be entitled to claim against LBUKH to continue to check this website for relevant information. 

Pursuant to Rule 2.47 of the Insolvency Rules 1986, the Administrators' progress reports issued to date have been sent to all known creditors and counterparties. Each report provides an account of the steps that have been taken in the administration of LBUKH over a six month period. To view the past reports please click on the applicable link below:

Contacts

All queries to the administrators of LBUKH should be sent to:  LBUKH@lbia-eu.com