LEHMAN BROTHERS QUARTO ATTO

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NOTICE OF CERTAIN AMOUNTS TO BE WITHHELD FROM DISTRIBUTIONS ON THE FIFTEENTH DISTRIBUTION DATE

As previously disclosed, additional Distributions under the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and Its Affiliated Debtors, dated December 5, 2011 [ECF No. 23023] (the “Plan”),1 will commence on April 5, 2018 (the “Fifteenth Distribution Date”).
Attached hereto as Exhibit A is a list that indicates the percentage recovery that will be distributed to holders of Allowed Claims (other than secured, administrative, priority or convenience claims) against each Debtor in each Class under the Plan as well as the cumulative percentage recovery.
Attached hereto as Exhibit B is a summary of the aggregate amount that will be distributed to holders of Allowed non-priority unsecured Claims on the Fifteenth Distribution Date.
Attached hereto as Exhibit C is a list that indicates the amount and percentage of the Minimum Cash Reserve and the Asset-to-Reserve Ratio that will be maintained by each Debtor that uses Non-Cash Assets in lieu of Available Cash as reserves for Disputed Claims

Attached hereto as Exhibit D is a summary of the aggregate amount of Allowed Claims eligible for distributions from certain Debtors, listed by Plan Class.

The aggregate amount that will be distributed on the Fifteenth Distribution Date will total approximately $2.6 billion and will include approximately (i) $1.2 billion of Distributions identified in Exhibit B, (ii) $1.0 billion of Distributions to holders of recently Allowed Claims for amounts that would have been received had such Claims been Allowed at the time of previous Distributions and (iii) $246 million, $128 million, and $34 million of Distributions to holders of Allowed Claims against Lehman Brothers Commercial Corporation Inc., Lehman Brothers OTC Derivatives Inc., and Lehman Brothers Financial Products Inc., respectively, on account of post-petition interest demands that have been allowed.

Dated: March 29, 2018 New York,

New York
Garrett A. Fail
WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, New York 10153 Telephone: (212) 310-8000 Facsimile: (212) 310-8007
Attorneys for Lehman Brothers Holdings Inc. and Certain of its Affiliates

file:///C:/Users/Pc/Downloads/NEF%20scc%20Ch11%20Notice%20of%20Distribution%20Re%20Lehman%20Brothers%20H(3).pdf

 

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Update – Announcement of proposed scheme of arrangement, pursuant to Part 26 of the Companies Act 2006, for a full and final settlement in respect of surplus entitlements and the payment of statutory interest - 29 March 2018

Further to the announcement made on 22 December 2017, which set out target dates for the launch of a proposed scheme of arrangement and can be accessed here, the Joint Administrators are pleased to report that significant progress has been made in the preparation of documentation to give effect to the proposed scheme.

In this respect, it is anticipated that a letter will be sent to all known creditors and placed on LBIE’s website in April 2018, which will provide further information as regards the terms of the proposed scheme, expected timings of its implementation and the rights of creditors to vote on the Scheme.

The Joint Administrators also expect to provide creditors with further information in relation to tax issues, including the application of UK withholding tax to distributions that may be made to them under the proposed scheme.

In addition to the above, the Joint Administrators will shortly issue their latest six-monthly progress report to creditors which will provide an update on all other matters relevant to the Administration.

We will post further updates on the LBIE website as matters progress.

Update – Announcement of proposed scheme of arrangement, pursuant to Part 26 of the Companies Act 2006, for a full and final settlement in respect of surplus entitlements and the payment of statutory interest - 29 March 2018

 

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Announcement on Proposed Settlement of Waterfall III Proceedings - 29 March 2017

Settlement of the Waterfall III proceedings

In their Sixteenth Progress Report dated 7 October 2016, the Joint Administrators noted various discussions had taken place with LB Holdings Intermediate 2 Limited (in administration) (“LBHI2”) and Lehman Brothers Holdings Inc. (“LBHI”) to consider the basis upon which the Waterfall III proceedings might be settled. The scope of the settlement arrangements envisaged has now widened to include certain other UK estates.

The key outline terms of the proposed arrangements are as follows:

Contribution Reserve

• In place of its contribution claims against its unlimited liability shareholders, LBL and LBHI2 (the “Contribution Claims”), LBIE would establish a “Contribution Reserve” which would act as a substitute for the value that would likely otherwise be recovered by LBIE in respect of the Contribution Claims. In order to achieve this, LBIE would enter into an agreement with (i) LBHI (ii) the holders of claims against LBIE referred to as “Retained Funding Claims” (see below) and (iii) the holders of other claims against LBIE referred to as “Standby Funding Claims” (also see below).

• The Contribution Reserve would be used by LBIE to fund a shortfall (if any) that might arise in relation to “Third Party Creditors” (i.e. all LBIE’s unsecured creditors other than (i), (ii) and (iii) above), between (a) the amount that would have been distributed to Third Party Creditors in respect of post-administration interest and non-provable liabilities if the Contribution Claims had in fact been made against LBIE’s unlimited liability shareholders and an appropriate recovery received; and (b) the amount that will in fact be distributed to them in respect of post-administration interest and non-provable liabilities, without the Contribution Claims being made.

• The value of the Contribution Reserve would at all times be at least equal to the Third Party Creditors’ proportionate share of LBIE’s projected recovery from its unlimited liability shareholders in respect of the Contribution Claims. This projected recovery is tied to LBIE’s potential shortfall in respect of all post-administration interest and non-provable liabilities, in the following manner:

Final shortfall £’m

Projected recovery* £’m

0-500

0-500

700

645

900

771

1,100

838

1,300

880

1,500

913

1,500+

913

*This table represents a summary

Announcement on Proposed Settlement of Waterfall III Proceedings - 29 March 2017

 

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NOTICE OF CERTAIN AMOUNTS TO BE WITHHELD FROM DISTRIBUTIONS ON THE FIFTEENTH DISTRIBUTION DATE

PLEASE TAKE NOTICE:

In accordance with sections 1.48 and 8.3 of the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and Its Affiliated Debtors, dated December 5, 2011 (ECF No. 22973) (the “Plan”),1 and the Order In Aid of Execution of the Modified Third Amended Chapter 11 Plan of Lehman Brothers Holdings Inc. and Its Affiliated Debtors dated January 31, 2013 (ECF No. 34348), the fifteenth Distribution Date is scheduled for April 5, 2018 (the “Fifteenth Distribution Date”).
On September 19, 2017, the Bankruptcy Court entered the Order Pursuant to Sections 105(a) and 1142(b) of the Bankruptcy Code Establishing Procedures for Distributions on Account of Guarantee Claims Corresponding to Certain Primary Claims Against Lehman Brothers Treasury Co. B.V. (ECF No. 56274) (the “Order”) authorizing the Plan Administrator to withhold Distributions on account of certain ISIN Guarantee Claims (as such term is used in the Order) corresponding to Primary Claims against Lehman Brothers Treasury Co. B.V. (“LBT”).
Attached as Exhibit A hereto is a list of the ISINs, blocking numbers, and Guarantee Claims that the Plan Administrator estimates will be satisfied by the following distribution by LBT alone or the combination of that distribution and the next LBHI Distribution. In accordance with
1 Capitalized terms used but not defined shall have the meanings ascribed to them in the Plan.
08-13555-scc Doc 57809 Filed 03/30/18 Entered 03/30/18 08:15:25 Main Document Pg 1 of 3

2 WEIL:\96505704\1\58399.0011

the Order, certain amounts will be withheld from Distributions on the Fifteenth Distribution Date on account of such Guarantee Claims.
Copies of the Order, the Plan, and related documents are available for inspection during regular business hours in the office of the Clerk of the Bankruptcy Court, Alexander Hamilton Custom House, One Bowling Green, New York, New York 10004. Copies are also available for registered users of the Bankruptcy Court’s filing system by accessing the Bankruptcy Court’s website (www.nysb.uscourts.gov) and for all parties at www.lehman-docket.com.
Dated: March 30, 2018 New York,

New York /s/ Garrett A. Fail WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, New York 10153 Telephone: (212) 310-8000 Facsimile: (212) 310-8007 Garrett A. Fail
Attorneys for Lehman Brothers Holdings Inc. and Certain of its Affiliates

 

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FEBRUARY 2018 POST-EFFECTIVE OPERATING REPORT


FEBRUARY 1, 2018 – FEBRUARY 28, 2018 SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
DEBTORS’ ADDRESS: LEHMAN BROTHERS HOLDINGS INC. c/o KRISTINE DICKSON CHIEF FINANCIAL OFFICER 277 PARK AVENUE 46th FLOOR NEW YORK, NY 10172


DEBTORS’ ATTORNEYS: WEIL, GOTSHAL & MANGES LLP c/o JACQUELINE MARCUS, GARRETT A. FAIL 767 FIFTH AVENUE NEW YORK, NY 10153
REPORT PREPARER: LEHMAN BROTHERS HOLDINGS INC., AS PLAN ADMINISTRATOR
Date: March 30, 2018

file:///C:/Users/Pc/Downloads/NEF%20scc%20Ch11%20Operating%20Report%20Re%20Lehman%20Brothers%20Holding(1).pdf

 

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Che cosa strana, questra volta!

 

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Conclusione:

Class 3 Senior Unsecured 43.850234% 0.735060% 44.585294%

Class 5 Senior Third-Party Guarantee 27.657707% 0.314645% 27.972352%

Uova di Pasqua con magra sorpresa per LBT ( ma aspettiamo pur sempre quella di Maggio )

Per LBHI, insomma: meglio che niente!

 

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Buona giornata a tutti e riBuona Pasqua.

 

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Lehman Brothers to Distribute Another $2.6 Billion to Creditors.

The team winding down the remains of Lehman Brothers Holdings Inc. is planning to pay out $2.6 billion to creditors next week, WSJ Pro Bankruptcy reported. The distribution, the 15th since the investment bank failed in 2008, will bring the total payout in the firm's bankruptcy to about $124.6 billion.

Lehman Brothers to Distribute Another $2.6 Billion to Creditors | ABI

 

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Honorable Shelley C. Chapman

Tuesday, April 03, 2018



10:00 AM
08-13555-scc Lehman Brothers Holdings Inc. Ch. 11
Adversary proceeding: 08-01420-scc Lehman Brothers Inc.
Doc #14529 Twenty-Fifth Application of Hughes Hubbard & Reed LLP for Allowance of Interim Compensation for Services Rendered and Reimbursement of Actual and Necessary Expenses



Adversary proceeding: 08-01420-scc Lehman Brothers Inc.
Doc #14528 Motion of James W. Giddens, Trustee for the SIPA Liquidation of Lehman Brothers Inc., for an Order Authorizing the Abandonment of Certain Lehman Brothers Inc. Contractual Rights to Acquire Documents Owned by Barclays Capital Inc.

Oggi .