Update – Waterfall III Application (the “Application”) – Application to Court for directions in respect of a settlement of the Waterfall III proceedings - Daily Transcript – 25 July 2017

On 21 July 2017, the Joint Administrators of Lehman Brothers International (Europe) (in administration) (“LBIE”) announced that they had issued an application to Court for directions, pursuant to paragraph 63 of Schedule B1 of the Insolvency Act 1986, in respect of a settlement of the Waterfall III proceedings (the "LBIE Application"). On 24 July 2017, an oral hearing was held before Mr Justice Hildyard in respect of the LBIE Application. 

The parties have engaged a transcriber to produce a transcripts of the hearing. The transcript produced on the day can be found below: 

• Daily transcript - Monday 24 July 2017

Please note that:   

• the transcript is published in the form received from the transcriber (i.e. prior to review by any party to the Application and without corrections);  
• the parties reserve the right to post amended versions of the transcript should they consider it necessary, but accept no responsibility for doing so; and  
• the LBIE administrators are posting such transcript solely for the convenience of interested third parties and neither they nor any other party to the Application makes any representation as to the accuracy of such transcript nor accepts any responsibility for any inaccuracies contained within it.

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