Martin Lee @ Sg
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Minibond Holders to Get Partial Payout

In what must be the most positive news since the collapse of Lehman Brothers, the receivers of Lehman Minibonds, PwC,  announced that they have reached an agreement with Lehman Brothers Special Financing (LBSF) to obtain the underlying collateral of the Minibond notes. This removes the need for any costly litigation.

PwC has started the process of realising the residual values of the Minibond notes and investors may be able to get back the residual value within a few months. The amount to be given to the noteholders will vary significantly, depending on the series and tranches held.

Investors who have accepted partial settlement offers as part of the dispute resolution process by the Financial Institutions (FI) or the Financial Industry Disputes Resolution Centre would have retained a portion of the notes, and will get to keep the residual value arising from those notes.

This news has no impact on those investors who accepted full settlement offers as they would have already received 100% of their principal investment amount.

More news:

Partial Refund for Lehman Minibond Holders

MAS Welcomes Receivers and Trustee’s Announcement of Settlement for Minibond

Minibond Payback (Straits Times)

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1 comment
sureesh says 9 years ago

I hope the amount to be given back to minibond holders will not be peanuts

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