LBS Trustee Considers Possible Wind Down of Bankruptcy Estate

News provided by
Lehman Brothers Securities N.V.
Nov. 07, 2014 20:00
CURACAO, DUTCH CARIBBEAN--(Business Wire / Korea Newswire)--Lehman Brothers Securities N.V. (“LBS”) today announced that Michiel Gorsira (the “LBS Trustee”), in his capacity as bankruptcy trustee (curator), is considering winding down the LBS estate and making a final distribution to creditors in the first quarter of 2015. The wind down process, which will require approval from the supervisory judge overseeing LBS’s bankruptcy proceedings, would be expected to include a combination of an in kind distribution of at least 85% of LBS’s intercompany claims against Lehman Brothers Holdings Inc. and Lehman Brothers International Europe, and the sale for cash of the remaining portion of those claims and any remaining assets with a corresponding distribution of the proceeds to creditors. The LBS Trustee intends to solicit proposals from certain market participants to help facilitate the wind down. No assurances can be made that such a wind down will in fact occur in the first quarter of 2015 or at any particular time thereafter, or of the assets that may be distributed in kind in the wind down, or of the amount of cash proceeds that may be received by creditors in the wind down.

Contact

Lehman Brothers Securities N.V.

Rubenstein Associates
Lynn Trono
212-843-8495
ltrono@rubenstein.com

This news is a press release provided by Lehman Brothers Securities N.V..

Lehman Brothers Securities N.V. News Releases
LBS 파산관리인, 파산재산 단계적 축소 가능성 검토
리먼브라더스 시큐리티즈(Lehman Brothers Securities N.V., 이하 “LBS”)는 오늘 미치엘 고시라(Michiel Gorsira, 이하 “LBS 관리인”)이 파산관재인(curator, 관리인)으로서 그의 역량 내에서 2015년 1분기에 LBS의 재산을 단계적으로 축소(winding down)하고 채권자들에게 마지막 분배를 하는 것을 고려 중이...
2014년 11월 7일 20:00
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