Important Creditor Update - 30 April deadline for fourth ‘catch up’ unsecured dividend - 26/03/2013

The Administrators advise that creditors wishing to participate in the fourth ‘catch up’ first interim unsecured dividend have until 30 April 2013 to meet the relevant requirements, as set out below.

The fourth ‘catch up’ unsecured dividend will be made on or around 31 May 2013, at a rate of 25.2%.

Fourth ‘catch up’ first interim unsecured dividend

The fourth ‘catch up’ unsecured dividend is available to creditors who did not participate in the first interim distribution or subsequent ‘catch up’ distributions but, as at 30 April 2013, have an admitted claim. To participate, unsecured creditors must have met the following conditions by 30 April 2013:

• submit a valid Proof of Debt via LBIE’s Client Information Portal;
• have their unsecured claim agreed and admitted via an executed claims determination deed (“CDD”) (or similar agreement); and
• provide LBIE with their standard settlement instructions (“SSIs”) for a GBP bank account.

Deadline for transfer notices

In order to give LBIE sufficient time to arrange dividend payments, unsecured creditors who are to be paid the ‘catch-up’ distribution and who wish to transfer their claims (in accordance with the transfer provisions of an executed claims determination deed) must send a Transfer Notice executed by both the Transferor and Transferee (each, as defined in the claims determination deed) to be received by LBIE no later than 30 April 2013.

Transfer Notices should be sent to claimsdeed@lbia-eu.com and by post to Lehman Brothers International (Europe) (in administration), Level 23, 25 Canada Square, E14 5LQ, marked for the attention of: In House Legal Team.

Future ‘catch up’ dividends

The Administrators advise creditors that a timetable for future ‘catch up’ dividends, including deadlines for the execution of associated transfer notices will be disclosed in the Joint Administrators’ ninth progress report, which will be issued shortly.

Other matters

Should you have further questions regarding the content of this update, please contact your existing LBIE contact or the Communications and Counterparty Management team at unsecuredcreditors@lbia-eu.com.