Alerts

LBIE Update

Claim Resolution Agreement, Segregated Assets, U.K. High Court Rulings

December 17, 2009

As previously described in our Alert of Oct. 6, 2009, “LBIE Administrators Announce Contractual Alternative to Proposed Scheme of Arrangement,” the Joint Administrators (the “Administrators”) of Lehman Brothers International (Europe) (“LBIE”) have proposed a Claim Resolution Agreement (the “CRA”) to facilitate the return of segregated client assets to LBIE’s creditors and establish a mechanism for terminating and closing out certain financial contracts entered into before Sept. 15, 2008.