Update – Waterfall Application – Subordinated debt and other Affiliate relationship issues – Statement of Conclusions and Full Judgment – 14 March 2014

On 18 February 2013, Lehman Brothers International (Europe) (in administration) (“LBIE”) and other UK affiliates announced that they had issued a joint application to seek a determination on various issues concerning their shareholding and other relationships (the “Waterfall Application”). The hearing of the Waterfall Application was held in November 2013.

David Richards J read out his Statement of Conclusions on the Waterfall Application in court on 21 February 2014 and a copy of that statement is available here.

The full judgment was handed down by David Richards J on 14 March 2014. A copy of the judgment is available here.

Should you have any queries regarding this update, please contact LBIE’s Communications and Counterparty Management team at generalqueries@lbia-eu.com.