General Update - Bar Date set for Lehman Brothers Hong Kong entities - 24/09/2010

On 25 August 2010, the Hong Kong High Court granted an application made by the respective Liquidators of Lehman Brothers Securities Asia Limited (In Liquidation), Lehman Brothers Futures Asia Limited (In Liquidation), Lehman Brothers Commercial Corporation Asia Limited (In Liquidation), Lehman Brothers Asia Limited (In Liquidation) and Lehman Brothers Nominees (H.K.) Limited (In Liquidation) (together, "Hong Kong entities") seeking permission to impose a bar date for third parties to claim segregated assets held for them by or to the order of the Hong Kong entities.

The court ordered that the Liquidators of the Hong Kong entities give three months notice to potential asset claimants of the bar date set as 10 December 2010 ("Bar Date"), by which any claims are to be submitted to the Liquidators. Potential claimants who fail to submit claims by the Bar Date may lose their entitlement, if any, to share in the distribution of these assets. A copy of the notice issued on 10 September by the Liquidators of the Hong Kong entities giving this notice to potential claimants is provided here.

Please be advised that the Joint Administrators of LBIE have already submitted claims to the Liquidators of the Hong Kong entities seeking the return of assets held for LBIE and for LBIE's clients. Accordingly, it is not necessary for LBIE's clients to submit asset claims directly to the Liquidators of the Hong Kong entities in respect of assets for which they have already submitted claims to LBIE.
 
The process for the return of the relevant assets following the expiration of the Bar Date is the responsibility of the Liquidators of the Hong Kong entities and LBIE can give no indication of the timing or likely outcome of this process. Please refer to the website of the Liquidators of the Hong Kong entities for more information in respect of this process.