MAS has been informed by LBPL and LBSPL that based on their respective records as at 31 January 2012, they held a net cash position of US$331,796,699 and US$39,660,340 respectively. The liquidators will deal with the assets of the entities in accordance with the relevant liquidation rules.

MAS is releasing this information in public interest and is not in any way providing legal advice to investors. Investors may choose to obtain independent advice on their next course of action, based on their own particular circumstances.

The Liquidators KPMG have provided a set of FAQs and established a hotline to answer queries on the liquidation.

Based on the answers given in the FAQ, LBSPL only acted as an Arranger for the Minibond programme and investors of the Lehman Minibonds would not be creditors of LBSPL under the relevant legal documentation.

As for LBPL, it had no role to play in the entire Minibond programme.

The contact details of the liquidator’s hotline are as follows:

Email address: [email protected]; Hotline: +65 8183 8014

To leave your comments, please go to : Lehman Brothers Announce Voluntary Liquidation

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 from 85% to 96.5% for investors.

An earlier offer made in July 2009 was only for a 60% payout.

A group of Hong Kong investors have rejected the offer, saying they want 100% compensation.

In Singapore, investors who did not get any form of resolution with FIDReC had to settle for the residue value of the underlying Minibonds. This ranged from 21.5% to 70%, depending on the series of the Minibond note.

Taking into account those who did complain to FIDReC, about 12% of Minibond holders would have received back their full principal, 68% received partial settlement (of 50% or more), and the other 20% receiving less than 50% of their principal.

For the other structured products like DBS High Notes 5, Merrill Lynch Jubilee and a number of the Pinnacle notes, the people who did not managed to get any resolution via FIDRec (majority of them) would get back nothing (or next to nothing) as the residue value of the underlying notes was almost worthless.

Lehman Minibond Investors Offered Higher Payout After Hong Kong Protests (Bloomberg)

More Lehman Minibond Money on the Table (South China Morning Post)

To leave your comments, please go to : Lehman Hong Kong Minibond Holders to Get Significant Payout

The 2160 low risk customers who accept the resolution scheme will receive their full investment back together with interest. The rest who have a higher risk profile will have their cases reviewed on a case by case basis.

In Singapore, some DBS customers were sold a product High Notes 5 that lost all its value when Lehman Brothers went under. According to a July 2009 MAS report, a total of $103.7 million worth of HN5 were sold to 1,083 retail clients between 30 March and 30 April 2007.

These investors were not so lucky as their Hong Kong counterparts when it comes to compensation. Even though all of them had their cases reviewed individually, the amount of compensation DBS paid out to them amounts to only S$7.8 million out of their original investment of S$84.1 million.

DBS HK unit agrees to pay HK$651m to clients who bought Lehman-linked notes (Channel News Asia)

To leave your comments, please go to : DBS HK Compensates HK$651m to Clients Who Bought Lehman-linked Notes

Tranche Series Percentage Recovery* (%)

Series 01 Tranche A (SGD Notes ) 21.5
Series 01 Tranche B (USD Notes) 24.0
Series 02 Tranche A (SGD Notes) 62.4
Series 02 Tranche B (USD Notes) 70.8
Series 03 Tranche A (SGD Notes) 55.9
Series 03 Tranche B (USD Notes) 64.0
Series 03 Tranche C (AUD Notes) 47.3
Series 05 (SGD Notes) 29.8
Series 06 (SGD Notes) 40.0
Series 07 (SGD Notes) 59.5
Series 08 (SGD Notes) 63.1
Series 09 (SGD Notes) 57.7
Series 10 (USD Notes) 62.4

I had expected about 50-60% recovery values for the different series and the majority indeed does fall into that range. Series 1 and 5 Minibond holders are the worst off in the amount they are getting. The series with the most number of investors are series 2, 3 and 5.

Payments to the noteholders will be made on 12 February 2010. The actual date that you receive your payment will depend on whether you hold a direct account with CDP or whether you hold the Notes through a nominee account.

More news on this:

HSBC Minibond Announcements

MAS Welcomes Announcement of Distribution of the Recovery Values of the Minibond Notes

Payout for Minibond Holders From 12 Feb (CNA)

To leave your comments, please go to : Minibond Payout Values

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)

To leave your comments, please go to : Minibond Holders to Get Partial Payout