Update – Other Surplus Litigation – Reply Position Paper of the Joint Administrators of Lehman Brothers International (Europe) (in administration) (“LBIE”) – 4 July 2017

On 30 June 2017, the Joint Administrators filed their position paper in reply to the position papers of Barclays and Wentworth, pursuant to the directions order of Mr Justice Hildyard which was sealed on 16 December 2016 (as amended by the consent orders dated 10 March 2017 and 25 May 2017.  

In the reply position paper, the Joint Administrators sought to summarise the parties' positions in relation to the Issues in the Application (save for those Issues which have been stayed).  Where those positions appear to be substantially aligned, the Joint Administrators have also invited the parties to adopt agreed positions in respect of the Issues (namely Issues 4, 7(1), 7(2), 7(3), 7(4), 8, 9(2), 9(4), 14 and 19).  The proposed agreed positions are set out in the final column of Annex 1. 

A copy of the Joint Administrators' reply position paper can be found here; and a copy of Annex 1 can be found here.  

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