LEHMAN BROTHERS QUARTO ATTO
- Creatore Discussione duetto
- Data di Inizio
duetto
Forumer storico
4
TIMETABLE
The timetable below lists certain expected key dates for the Partial Wind
-
Down:
Date and time (CET)
Event
24
January
2019 at 9:00 CET
Start
of the Solicitation
23 February 2019
Estimated record date for LBHI's
Seventeenth Distribution
11 March
2019
at 17:00 CET
Expiration Deadline
22 March
2019
Date by which assignment agreements are entered into with respect to the
Saleable LBHI Receivable and, if applicable, the LBCCA Receivable
28
March 2019
Estimated dat
e by which LBHI announces the distribution rates for LBHI's
Seventeenth Distribution
1 April
2019
Estimated
d
ate by which proceeds of the Saleable LBHI Receivable and
LBCCA
Receivable
are received by LBT
2 April
2019
Substitution Date
4 April 2019
Estimated date by which LBT receives LBHI's Seventeenth Distribution
15
April
2019
Estimated
date
by which LBT
starts the process to make the Final Distribution
to
the
Cash
-
Out
Creditors
and its first distribution to the
holders of Substitute Notes
25
April
2019
Estimated date on which Cash
-
Out Notes will be blocked prior to the Final
Distribution
2 May
2019
Estimated date of the Final Distribution
TIMETABLE
The timetable below lists certain expected key dates for the Partial Wind
-
Down:
Date and time (CET)
Event
24
January
2019 at 9:00 CET
Start
of the Solicitation
23 February 2019
Estimated record date for LBHI's
Seventeenth Distribution
11 March
2019
at 17:00 CET
Expiration Deadline
22 March
2019
Date by which assignment agreements are entered into with respect to the
Saleable LBHI Receivable and, if applicable, the LBCCA Receivable
28
March 2019
Estimated dat
e by which LBHI announces the distribution rates for LBHI's
Seventeenth Distribution
1 April
2019
Estimated
d
ate by which proceeds of the Saleable LBHI Receivable and
LBCCA
Receivable
are received by LBT
2 April
2019
Substitution Date
4 April 2019
Estimated date by which LBT receives LBHI's Seventeenth Distribution
15
April
2019
Estimated
date
by which LBT
starts the process to make the Final Distribution
to
the
Cash
-
Out
Creditors
and its first distribution to the
holders of Substitute Notes
25
April
2019
Estimated date on which Cash
-
Out Notes will be blocked prior to the Final
Distribution
2 May
2019
Estimated date of the Final Distribution
carlo27
Nuovo forumer
Caro Duetto, ho letto tutto. Fermo restando che sarebbe interessante sentire il parere di un legale, ti dico come la penso.
Per ragioni anche condivisibili, LBT ha deciso di semplificare una gestione che si stava facendo estremamente costosa: oltre 3700 diverse serie, con rimborsi ormai sempre più limitati.
Ha deciso quindi di fare pulizia in due modi: agli investitori professionali (QUALIFIED NOTEHOLDERS) darà la possibilità fino a Marzo di optare per uno switch dai bond attuali a delle ‘SUBSTITUTE NOTES’ in dollari.
Noi semplici risparmiatori – ribattezzati CASH-OUT CREDITORS - NON avremo la possibilità di fare lo switch e verremo in ogni caso liquidati a Maggio, con una FINAL DISTRIBUTION.
Sospetto che – come sempre in finanza – il piccolo risparmiatore verrà penalizzato da questa decisione.
Nel senso che l’importo della distribuzione finale potrebbe essere anche significativamente inferiore a quanto riceveranno i QUALIFIED NOTEHOLDERS nel tempo mantenendo le loro Substitute Notes..
Va anche detto che i rimborsi hanno già raggiunto livelli del tutto insperati e potremmo comu nque ritenerci miracolati, rispetto ad altri risparmiatori che si sono trovati in situazioni simili.
In ogni caso non possiamo scegliere: ci tocca la final distribution e tant’è. Speriamo che sia sostanziosa.
Piuttosto non capisco cosa farà LBI: continuerà a distribuirci briciole o ci liquideranno anche loro?
Per ragioni anche condivisibili, LBT ha deciso di semplificare una gestione che si stava facendo estremamente costosa: oltre 3700 diverse serie, con rimborsi ormai sempre più limitati.
Ha deciso quindi di fare pulizia in due modi: agli investitori professionali (QUALIFIED NOTEHOLDERS) darà la possibilità fino a Marzo di optare per uno switch dai bond attuali a delle ‘SUBSTITUTE NOTES’ in dollari.
Noi semplici risparmiatori – ribattezzati CASH-OUT CREDITORS - NON avremo la possibilità di fare lo switch e verremo in ogni caso liquidati a Maggio, con una FINAL DISTRIBUTION.
Sospetto che – come sempre in finanza – il piccolo risparmiatore verrà penalizzato da questa decisione.
Nel senso che l’importo della distribuzione finale potrebbe essere anche significativamente inferiore a quanto riceveranno i QUALIFIED NOTEHOLDERS nel tempo mantenendo le loro Substitute Notes..
Va anche detto che i rimborsi hanno già raggiunto livelli del tutto insperati e potremmo comu nque ritenerci miracolati, rispetto ad altri risparmiatori che si sono trovati in situazioni simili.
In ogni caso non possiamo scegliere: ci tocca la final distribution e tant’è. Speriamo che sia sostanziosa.
Piuttosto non capisco cosa farà LBI: continuerà a distribuirci briciole o ci liquideranno anche loro?
duetto
Forumer storico
Anche per me è esattamente come hai scritto. Quindi avava ragione il mio interlocutore di NY quando affrmò che questa news era destinata solo agli istituzionali.
Quindi distribuzione finale per i retail fissata al 2 Maggio 2019.
Stesso dubbio per le ulteriori distribuzioni LBHI: cosa succederà per i possessori LBT?
E qui bisogna chiedere. Fatelo anche voi alle vostra banche.
duetto
Forumer storico
Lehman Brothers Treasury Announces Launch of Partial Wind-Down and Related Consent Solicitation
January 24, 2019
Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”) today, through its U.S. counsel Kramer Levin Naftalis & Frankel LLP, announced that, in furtherance of its previously announced partial wind-down and in preparation of a final distribution, LBT has launched a solicitation process pursuant to which certain qualified noteholders will have the option to receive substitute notes in exchange for their eligible notes.
Those creditors of LBT who are not eligible (or do not elect) to receive substitute notes will receive a final cash distribution from LBT funded in large part with the proceeds of the sale of a portion of LBT’s intercompany claim against Lehman Brothers Holdings Inc..
For more information on the partial wind-down, including information about the intercompany claim sale, the final cash distribution, the substitute notes, eligibility requirements, and anticipated timelines, an Information Notice will be posted to LBT’s website at www.lehmanbrotherstreasury.com.
The foregoing is subject to further consents and authorizations and LBT retains sole discretion to abandon or otherwise discontinue any solicitation or sale process at any time. Accordingly, there can be no assurances that either the solicitation or the sale process will be conducted or consummated, or if conducted or consummated, the timing thereof. There also can be no assurance as to the amount of cash distributions, if paid, now or in the future.
LBT does not undertake to publicly update its disclosure to reflect developments in this matter.
Lehman Brothers Treasury Announces Launch of Partial Wind-Down and Related Consent Solicitation
Contacts
Niels Huurdeman, Houthoff
Tel: + 31 20 605 65 56
or
Daniel Eggermann, Kramer Levin Naftalis & Frankel LLP
Tel: + 1-212-715-9495
January 24, 2019
Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”) today, through its U.S. counsel Kramer Levin Naftalis & Frankel LLP, announced that, in furtherance of its previously announced partial wind-down and in preparation of a final distribution, LBT has launched a solicitation process pursuant to which certain qualified noteholders will have the option to receive substitute notes in exchange for their eligible notes.
Those creditors of LBT who are not eligible (or do not elect) to receive substitute notes will receive a final cash distribution from LBT funded in large part with the proceeds of the sale of a portion of LBT’s intercompany claim against Lehman Brothers Holdings Inc..
For more information on the partial wind-down, including information about the intercompany claim sale, the final cash distribution, the substitute notes, eligibility requirements, and anticipated timelines, an Information Notice will be posted to LBT’s website at www.lehmanbrotherstreasury.com.
The foregoing is subject to further consents and authorizations and LBT retains sole discretion to abandon or otherwise discontinue any solicitation or sale process at any time. Accordingly, there can be no assurances that either the solicitation or the sale process will be conducted or consummated, or if conducted or consummated, the timing thereof. There also can be no assurance as to the amount of cash distributions, if paid, now or in the future.
LBT does not undertake to publicly update its disclosure to reflect developments in this matter.
Lehman Brothers Treasury Announces Launch of Partial Wind-Down and Related Consent Solicitation
Contacts
Niels Huurdeman, Houthoff
Tel: + 31 20 605 65 56
or
Daniel Eggermann, Kramer Levin Naftalis & Frankel LLP
Tel: + 1-212-715-9495
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