Lehman Brothers Treasury Announces the Successful Auction of a Portion of its Intercompany Claim against Lehman Brothers Holdings Inc.
In connection with its previously announced partial wind-down, Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”), through its U.S. counsel Kramer Levin Naftalis & Frankel LLP, announced that its placement agent, Seaport Loan Products LLC, successfully concluded an auction of a US$10,475,844,413 portion of LBT’s US$34,548,000,000 intercompany claim (the “Intercompany Claim”) against Lehman Brothers Holdings Inc. for a total gross purchase price of US$179,472,166. The sale is expected to close during the first week of April 2019. The net proceeds of the sale (after deducting various sale-related costs and expenses), together with certain available cash, will be used to fund a final distribution to creditors of LBT who do not receive substitute notes as a result of LBT’s prior solicitation process.
For more information on the partial wind-down, including information about the Intercompany Claim sale, the final cash distribution, and anticipated timelines, an Information Notice has been posted to LBT’s website at www.lehmanbrotherstreasury.com .
Daniel Eggermann, Kramer Levin Naftalis & Frankel LLP
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LARSEN-&-TOUBRO-INFOTECH18.7.2019 18:10:08 CEST | Press release
LTI USD Revenue Growth up 11.5% YoY; Digital Revenues at 39%
NY-MOODY’S-ANALYTICS18.7.2019 17:32:06 CEST | Press release
Moody’s Analytics Wins Wholesale Modelling Software of the Year at Risk Technology Awards
FABASOFT18.7.2019 16:41:12 CEST | Press release
Fabasoft is a “Strong Performer” for Cloud Content Platforms, Q3 2019
CA-GILEAD-SCIENCES,-INC.18.7.2019 14:32:06 CEST | Press release
Gilead to Present New Data on HIV Prevention, Treatment and Cure Research at IAS 2019
BOEHRINGER-INGELHEIM18.7.2019 14:03:04 CEST | Press release
Boehringer Ingelheim Expands Idiopathic Pulmonary Fibrosis (IPF) Pipeline Through Collaboration and License Agreement with Bridge Biotherapeutics
QUOTIENT-SCIENCES18.7.2019 14:03:04 CEST | Press release
Quotient Sciences to Recapitalize With Global Private Equity Firm Permira
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom