Important Creditor Update 10/10/2012- REMINDER: 31 October Deadline for Small Claims Settlement Offer and Submission of GBP SSIs

1. Small Claims Settlement Offer –Participation Deadline 31 October 2012

The Small Claims Settlement Offer, which was announced by the Joint Administrators on 4 May 2012, gives creditors the opportunity to receive a single payment in full and final settlement of their claims against LBIE.

The offer is available to any creditor whose agreed claim does not exceed £150,000 (or who wishes to cap their claim at this level). In full and final settlement of their claim,

LBIE is offering to pay such creditors 90% of the agreed claim amount, up to a maximum payment of £135,000 (being 90% of £150,000).

Any creditor wishing to participate in the Small Claims Settlement Offer must have met the following conditions by the deadline of 31 October 2012:

• submitted a valid proof of debt by the Bar Date (of 31 July 2012);
• had its claim agreed via an executed Claims Determination Deed (“CDD”) (or similar agreement); and
• entered into a separate agreement to the CDD (or similar agreement) accepting the Small Claims Settlement Offer as full and final settlement of their agreed claim (the “Small Claims Settlement Deed”).

If you wish to participate in the Small Claims Settlement Offer and have received a Small Claims Settlement Deed please return two executed (undated) copies of this document to LBIE as soon as possible (and preferably also a PDF copy by email to claimsdeed@lbia-eu.com).

If you wish to participate in the Small Claims Settlement Offer and have not already advised LBIE of this, please register your interest as soon as possible. This can be done by either:

• logging onto the LBIE Client Information Portal (“CIP”) and registering your interest by clicking the button under the relevant heading; or
• emailing smallclaimsoffer@lbia-eu.com and registering your interest; or
• contacting your existing LBIE contact.

Should you have any queries regarding the Small Claims Settlement Offer please email smallclaimsoffer@lbia-eu.com.

2. Submission of GBP SSIs

Unsecured creditors are reminded that to be eligible to participate in the First Interim Distribution or the Small Claims Settlement Offer, they are required to provide Standard Settlement Instructions (“SSIs”) for a GBP bank account.‎

If you have not already done so, please provide LBIE with the appropriate GBP SSI details by 31 October 2012.

SSIs should be submitted in the SSI Portal, which is located on the CIP home page. Please log onto the SSI Portal via the CIP using the unique username and password previously provided and enter your GBP SSI in the Cash SSI Section, choosing the “GBP Unsecured Distribution Specific SSI” option.

Please be advised that if you have previously submitted a GBP Global SSI which has been acknowledged by LBIE, there is no need to submit a GBP Unsecured Distribution Specific SSI unless you wish the First Interim Distribution to be paid to a different GBP account.

Should you have any queries regarding the submission of SSIs, please contact ‎SSI@lbia-eu.com.

Further details of the Small Claims Settlement Offer and the First Interim Dividend for Unsecured Creditors are contained in the Creditor update of 4 May 2012 and the related Frequently Asked Questions. If you require access to the CIP please contact logons@lbia-eu.com.