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Lehman Hong Kong Minibond Holders to Get Significant Payout
Lehman Brothers Minibond holders in Hong Kong have plenty to cheer about. They (whether young or old, educated or uneducated) have been offered better compensation terms of at least 70% to 93% of their money back, receiver PricewaterhouseCoopers LLP said. After adding in an additional ex gratia payment from banks, the total payout will range […]
Credit Linked Notes Gathering
There will be another gathering this Saturday for affected victims of structured products (Minibond, DBS High Notes, Pinnacle, Jubilee) organised by Tan Kin Lian. Date of Gathering: 22nd August 2009 Place: Speaker’s Corner, Hong Lim Green Time: 5.00 pm Activities: 1. Speech by Tan Kin Lian 2. Hold placards with messages 3. Sign petition (for […]
Investigation Report on Structured Products Selling
Yesterday, MAS released their 99-page report on the selling of structured products by ten financial institutions. It detailed the process by which each financial institution sold the products, a tabulation of the amount of compensation received by investors, as well as actions taken against the financial institutions. Punishments include a ban of structured products selling […]
SIAS to Offer Advice to Structured Product Investors
As the resolution process comes to a close for many investors of Lehman-linked products, SIAS said that they were opening their doors to offer advice on their next course of action. Sias president David Gerald mentioned SIAS will be organising group sessions and making available their legal advisors to answer questions from investors. Even though […]
Updates on Structured Notes Compensation
MAS has released an announcement on the progress of the dispute resolution process so far. From the numbers, it looks like only a few of those investors who purchased the Lehman Minibond from stock brokers are getting any compensation. ABN, Hong Leong and Maybank are offering compensation to 75% of those who have filed a […]