Creditors
LBIE has some 6,300 identified counterparties which could be potential creditors and with whom the Administrators correspond. To manage the actual and potential claimants, a number of core communication processes have been designed and implemented.
One of the important tools for communication to counterparties is through this website. As such, the Administrators will continue to provide information updates for unsecured creditors on this micro-site as is necessary. Please refer to these pages before contacting us. Thank you for your understanding as our team continues to work on these complex issues.
Updates
If you are a counterparty of LBIE who believes they may have an unsecured claim then you should read the links on this page for background information:
- Extension to Notice of Proposed Distribution - 13/12/2010
- Application to Extend the Notice of Proposed Distribution to Unsecured Creditors - 30/11/2010
- Exchange and clearing house communications - 22/10/08
- LBIE - Joint Administrators' Fourth Progress Report - 14/10/2010
- Resolution of unsecured creditor claims - Extension of 17 September 2010 deadline - 15/09/10
- Resolution of Unsecured Creditor Claims - 16/06/2010 (Revised 08/07/2010)
- LBIE - Joint Administrators' Third Progress Report
- 14/04/2010 - Notice of Proposed Distribution - 04/12/2009
- LBIE - Joint Administrators' Second Progress Report
- 14/10/2009 - Administrators' Proposal
- Additonal creditor updates
Unsecured Creditors' Claim Submission Information
In order for the Joint Administrators to admit claims for dividend in the administration of LBIE, all unsecured creditors will need to submit a Proof of Debt, accompanied, where relevant, by a valuation statement.
The Joint Administrators wish to provide potential unsecured creditors with a secure mechanism for submission of their Proofs of Debt in an expedient and consistent manner. To facilitate this goal, a new creditor portal (the "Creditor Portal") has been opened to provide a structured framework for all counterparties to submit details of their Unsecured Claims against the LBIE estate. Valuation statements can be submitted by attaching them to the Proof of Debt in the Creditor Portal.
We encourage you to go to the Creditor Portal website as soon as possible https://dm.pwc.com/lbie-cip, log on and submit your Proof of Debt using the unique username and password provided to counterparties by the Administration. We have provided you with Guidance Notes on the Creditor Portal to assist you with the submission of your claim. We have provided you with Guidance Notes on the Creditor Portal to assist you with the submission of your claim. If you have questions regarding your log on details please email the following mailbox: logons@lbia-eu.com.
If you have previously submitted information regarding your Unsecured Claim through the earlier creditor portal launched in October 2008 your claim has been logged, however, you will now need to submit a Proof of Debt (accompanied, where relevant, by a valuation statement) through the current Creditor Portal using the log on details above.
A creditor who has already submitted a valuation statement must ensure that it has also filed a Proof of Debt in the Creditor Portal, cross referring to the valuation statement(s) and confirming the net value of its claim. To simplify your submission of your Proof of Debt, the Creditor Portal allows you to input a single aggregated claim for all agreements under which you had traded with LBIE and a single aggregated claim by currency or market for failed security trades.
Please note: LBIE may contact you to discuss your claim or request further information, even if you have already submitted a Proof of Debt and/or Valuation Statement.
No acknowledgement as to the admissibility or validity of claims for dividend purposes is given or implied and all rights with regard to validity of claims, including, without limitation, the applicability of any netting or rights of set-off or the treatment of collateral are fully reserved.
