Surplus Scheme

On 22 December 2017 the Joint Administrators proposed a scheme of arrangement in relation to Lehman Brothers International (Europe) (in administration) pursuant to Part 26 of the Companies Act 2006 as a mechanism to distribute the surplus and to settle the Waterfall proceedings. 

Please click on the links shown below to provide you with further information:

Update: Announcement of final distribution and Surplus Scheme closure

Lehman Brothers International (Europe) (in administration) (“LBIE”) confirms that all Surplus Scheme Distributions, other than Unclaimed Surplus Scheme Distributions, have been paid in full. The final distribution was made on 4 February 2025.

In accordance with the terms of the Surplus Scheme, the Scheme Settlement Instruction (“SSI”) Deadline occurred on 4 March 2025, being 20 Business Days after the final Surplus Scheme Distribution was paid.

The only remaining Unclaimed Surplus Scheme Distributions are De Minimis Distributions which have been irrevocably waived by the relevant Surplus Scheme Creditors in accordance with the Surplus Scheme terms. As such, LBIE no longer owes any payment obligations under the Surplus Scheme.

The Surplus Scheme has now concluded in full and is formally closed.

Contacts

All queries relating to Lehman Brothers International (Europe) – in Administration (“LBIE”) should be sent to the Administrators at the following email address:

uk_lehmanaffiliates@pwc.com

Please use this contact for all future correspondence regarding the Lehman Group entities, clearly identifying that your query is in respect of LBIE.

The Contact details listed below are inactive, no longer monitored and your query will go unanswered.

  • General queries: generalqueries@lbia-eu.com
  • HR queries: uk.hrqueries@lbia-eu.com

Alison Campbell Grant, David James Kelly, Edward John Macnamara and Gillian Eleanor Bruce were appointed as Joint Administrators of Lehman Brothers International (Europe) to manage its affairs, business and property as agents without personal liability. Alison Campbell Grant, David James Kelly, Edward John Macnamara and Gillian Eleanor Bruce are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. The Joint Administrators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics

The Joint Administrators may act as controllers of personal data, as defined by the UK data protection law, depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrators' appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Administrators. 

Lehman Brothers International (Europe) is registered in England and Wales with registered no. 02538254. 

VAT registration no. 446 9315 28

Contact us

Alison Grant

Alison Grant

Director, PwC United Kingdom

Tel: +44 (0)20 7804 7933

David Kelly

David Kelly

Performance and Restructuring Partner, UK Head of Insolvency, PwC United Kingdom

Tel: +44 (0)7974 332659

Ed  Macnamara

Ed Macnamara

Chief Finance and Administrative Officer for Lead Advisory and Restructuring, PwC United Kingdom

Tel: +44 (0)7739 873104

Gillian  Bruce

Gillian Bruce

Director, PwC United Kingdom

Tel: +44 (0)7715 540817

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