LB UK Financing Limited (in administration)

This site provides information regarding the progress of the administration of LB UK Financing Limited (“LBUKF”).

LBUKF entered administration on 2 October 2008. The current Joint Administrators are AV Lomas, SA Pearson, DA Howell, JG Parr and GE Bruce. The Joint Administrators manage LBUKF’s affairs, business and property as agents without personal liability. All the Joint Administrators (the “Administrators”) are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.

AV Lomas, SA Pearson, DA Howell, JG Parr and GE Bruce are Data Controllers of personal data as defined by the Data Protection Act 1998. PricewaterhouseCoopers LLP will act as Data Processor on their instructions. Personal data will be kept secure and processed only for matters relating to the administration.

LBUKF Claim Submission Information

The Administrators applied to Court for permission for LBUKF to become a distributing administration. That permission was granted on 24 June 2013, and LBUKF now has a formal legal process for agreeing creditors’ claims. Therefore, we have provided a LBUKF Statement of Claim form which can be downloaded here, and we encourage all creditors to submit their claims in short order. The Administrators request that all claimants use this form for consistency, and all claims should be submitted with full supporting documentation. Please execute your Statement of Claim and upload as a PDF and email to the following address: Lehman.affiliates@uk.pwc.com.

Updates

Notice of Declaration of a Seventh and Final Dividend

On 2 September 2015, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a seventh final dividend of 0.0487 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. This is a final dividend and there will be no further distributions in this matter. A copy of the Notice to all creditors who have proved their debt is available here.

Notice of Intention to pay a Seventh and Final Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a seventh and final distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 28 August 2015. A seventh and final dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Notice of Declaration of a Sixth Dividend

On 6 July 2015, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a sixth interim dividend of 8.592 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. Further dividends are anticipated, though the timing and quantum is uncertain at present. A copy of the Notice to all creditors who have proved their debt is available here.

Notice of Intention to pay a Sixth Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a sixth distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 12 June 2015. A sixth dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Notice of Declaration of a Fifth Dividend

On 11 February 2015, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a fifth interim dividend of 16.01 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. Further dividends are anticipated, though the timing and quantum is uncertain at present. A copy of the Notice to all creditors who have proved their debt is available here.

Notice of Intention to pay a Fifth Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a fifth distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 6 February 2015. A fifth dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Notice of Declaration of a Fourth Dividend

On 14 October 2014, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a fourth interim dividend of 3.69344 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. Further dividends are anticipated, though the timing and quantum is uncertain at present. A copy of the Notice to all creditors who have proved their debt is available here.

Notice of Intention to pay a Fourth Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a fourth distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 5 September 2014. A fourth dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Notice of Declaration of a Third Dividend

On 4 September 2014, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a third interim dividend of 13.35 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. Further dividends are anticipated, though the timing and quantum is uncertain at present. A copy of the Notice to all creditors who have proved their debt is available here.

Notice of Intention to pay a Third Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a third distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 31 July 2014. A third dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Notice of Declaration of a Second Dividend

On 12 March 2014, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Administrators declared and paid a second interim dividend of 2.935 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. Further dividends are anticipated, though the timing and quantum is uncertain at present. A copy of the Notice to all creditors who have proved their debt is available here.

Notice of Intention to pay a Second Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a second distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 25 February 2014. A first dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Notice of Declaration of a First Dividend

On 29 October 2013, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Administrators declared and paid a first interim dividend of 0.088 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. Further dividends are anticipated, though the timing and quantum is uncertain at present. A copy of the Notice to all creditors who have proved their debt is available here.

Notice of Intention to pay a First Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a first distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 30 August 2013. A first dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Progress reports

Creditors are updated on the progress of the administration of LBUKF through the Administrators' six monthly progress reports and via this website. We encourage creditors who believe they may be entitled to claim against LBUKF to continue to check this website for relevant information.

Pursuant to Rule 2.47 of the Insolvency Rules 1986, the Administrators' progress reports issued to date have been sent to all known creditors and counterparties. Each report provides an account of the steps that have been taken in the administration of LBUKF over a six month period. To view the past reports please click on the applicable link below:

Progress reports 2008 to 2013

Click here to read previous progress reports

Contacts

If you have any queries in relation to LBUKF's administration, please send an email to Lehman.affiliates@uk.pwc.com.