Creditor Update – planning for the fourth interim distribution to unsecured creditors – 24/03/2014

The creditor update on 28 February 2014 explained that the Administrators anticipated the fourth interim distribution to unsecured creditors would be paid on, or around, 30 April 2014.

In order to prepare for this distribution, creditors are reminded of the following:

1. Deadline for Claims Agreement

To be eligible to participate in the fourth interim distribution on this payment date, a creditor must have its claim agreed via an executed Claims Determination Deed (“CDD”) (or similar agreement) by Friday 28 March 2014.

2. Transfer Deadline

In order to give LBIE sufficient time to arrange the necessary dividend payments, unsecured creditors who wish to transfer their claims in accordance with the transfer provisions of an executed CDD must send a Transfer Notice executed by both the Transferor and Transferee (each, as defined in the CDD) to be received by LBIE no later than 28 March 2014.

Transfer Notices should be sent to claimsdeed@lbia-eu.com and by post to Lehman Brothers International (Europe) (in administration), Level 23, 25 Canada Square, E14 5LQ, marked for the attention of: In House Legal Team.

Unsecured creditors and potential Transferees should note that any Transfer Notices received by LBIE after 28 March 2014 will not be countersigned by LBIE in time for the fourth interim distribution, and LBIE will proceed to pay the fourth interim distribution to the unsecured creditor of record according to LBIE’s records as at 28 March 2014.

Any Transfer Notices received after 28 March 2014 will be processed following payment of the fourth interim distribution. Until LBIE countersigns the Transfer Notice, LBIE will continue to make any payments to, and otherwise deal with, the unsecured creditor of record.

3. Confirmation of Legal Ownership of Admitted Claim and SSIs

Unsecured creditors with an admitted claim are reminded that to be eligible to participate in the fourth interim distribution that they will be required to confirm that they are still the legal owner of the admitted claim and confirm their GBP Standard Settlement Instructions (“SSIs”) via LBIE’s Client Information Portal (CIP). Creditors with admitted claims will be contacted during the week commencing 07 April 2014 with details on how to complete the confirmation process and the timescale within which to do so.

In order to successfully complete the process within the communicated time period and be eligible to participate in the fourth interim distribution, Creditors should ensure their CIP access is up to date and, ensure that a Primary User is available in the week commencing 07 April to access the CIP for the confirmation process. For any queries relating to CIP access, please contact the Communications and Counterparty Management team at logons@lbia-eu.com.

4. Change of Name Notification

If the name of a creditor’s legal entity has changed, creditors are reminded (if they have yet to do so) of the need to urgently notify unsecuredcreditors@lbia-eu.com, providing details of the name change together with supporting legal documentation. Failure to do so by 28 March 2014 could result in a delay in paying such creditors their fourth interim distribution.