Trust Assets: Client Update – Issuance of individual client statements – 23 June 2014

As reported in the Joint Administrators’ progress report for the period ended 14 March 2014, we have made substantial progress in recovering and then distributing trust assets to clients. As this work stream enters its final stages, we intend to issue individual statements to trust asset clients summarising both their trust and unsecured relationships. Trust asset clients are not obliged to respond to these statements as these will simply show, as a matter of record and for client reference, what the final agreed position is between them and LBIE.

For Claim Resolution Agreement (“CRA”) signatories, where indicated these statements will also serve to satisfy the requirement for LBIE to provide Closing Statements pursuant to Clause 64 of the CRA.

Issuance of these statements will take place on a phased basis as trust asset clients receive their final asset returns and will be sent to each relevant trust asset client via email and submitted onto the Client Asset Portal.

If you have any queries with regards to this update please contact the Communications and Counterparty Management team by emailing generalqueries@lbia-eu.com.