Update – Waterfall Application – Subordinated debt and other Affiliate relationship issues – Position Papers – 29/05/2013

On 18 February 2013, Lehman Brothers International (Europe) (in administration) 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”).

On 24 May 2013, as required under the order made by the Court following the Case Management Conference on 27 March 2013, the original parties to the Joint Application exchanged position papers setting out their positions on the issues in the Waterfall Application. Copies of the position papers can be found by following the links below:

• Lehman Brothers International (Europe) (in administration)
• Lehman Brothers Limited (in administration)
• LB Holdings Intermediate 2 Limited (in administration)
• Lehman Brothers Holdings Inc

At the same Case Management Conference, Lydian Overseas Partners Master Fund Limited were added as a secondary Respondent to the Application. Their position papers were filed on 31 May 2013. A copy can be accessed below:

• Lydian Overseas Partners Master Fund Limited

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