Client Money Update - Client Information Portal - Updated Client Money Statements - 2/12/09

This update concerns the Client Information Portal (the "Portal") as it relates to clients with potential claims to pre-administration client money.  For background information on the Portal, please read our 8 September 2009 update . 

In early September the Joint Administrators provided potential pre-administration client money claimants with an indicative statement showing the amount of pre-administration client money which, according to LBIE's books and records, was segregated on their behalf on 12 September 2008 based on data for close of business 11 September 2008 (the "Point of Last Segregation"). 

As of today, we have provided two further updates to the Portal:

• for all potential claimants to pre-administration client money, an updated indicative client money statement which also shows the amount of pre-administration client money which, according to LBIE's books and records, would have been segregated on their behalf on 15 September 2008, based on data for close of business 12 September 2008, if LBIE had not entered into administration; and
• for potential claimants to pre-administration client money under the futures component only, a new statement providing further  information in respect of this component, including "close-out balances" calculated after incorporating the close-out of open positions held at the Point of Last Segregation.

The Joint Administrators are providing this additional information in connection with the Joint Administrators' application (the "Application") to the High Court seeking directions on the treatment of pre-administration client money.  In particular, directions are being sought on whether LBIE is required to adjust pre-administration client money to take account of movements between the Point of Last Segregation and the time of administration.  Further information on the Application can be found in the 25 November 2009 Client Money Update.

We are aware that a significant number of potential pre-administration client money claimants who were sent letters from the Joint Administrators in early September containing log on information for the Portal have not yet accessed the information in the Portal. We strongly encourage all potential pre-administration client money claimants to access the information in the Portal.

Please click here to access the Portal.

If you did not receive a letter from the Joint Administrators in early September containing your log on information for the Portal and believe you have a claim to pre-administration client money, please contact the clientpositionresponses@lbia-eu.com mailbox referencing your full client name and GAC code.

Please note that only an authorised representative of the legal entity to whom a letter was sent is allowed to access the Portal on behalf of such entity. Under no circumstances should any other person access the Portal.  Any person logging onto the Portal will be required to make a representation that he/she is authorised on behalf of the relevant entity to access the confidential information contained in the Portal.