Update – Waterfall Application – Subordinated debt and other Affiliate relationship issues – Witness statement, documents agreed between the parties and LBIE’s written opening submission – 6 November 2013

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 following additional witness statement on behalf of LBIE has now been filed in the Waterfall Application:

Fifth witness statement of Russell Downs dated 25 September 2013

Copies of the exhibits associated with this witness statement can be provided on request.

The following documents have been agreed between LBIE, Lehman Brothers Limited (in administration) (“LBL”), LB Holdings Intermediate 2 Limited (in administration) (“LBHI2”), Lehman Brothers Holdings, Inc (“LBHI”) and Lydian Overseas Partners Master Fund Limited (“Lydian”) and were filed in the Waterfall Application on 9 October 2013:

The parties filed their written opening submissions in the Waterfall Application on 24 October 2013. LBIE’s written opening submissions are available below:

LBIE’s written opening submissions

The written opening submissions of LBL, LBHI2, LBHI and Lydian, along with all supplemental written opening submissions filed on 4 November 2013, will be published once the hearing of the Waterfall Application has commenced. In addition, daily transcripts will be published during the course of the hearing.

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