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HK Minibond Investors to Receive Further Payout
Some Hong Kong investors in the failed Lehman-Brothers minibond series of structured investments are set to receive a further, final payment in relation to their loss. PricewaterhouseCoopers (PwC), the receivers of the minibond collateral, said investors in series 5 to 7 and 9 of the products will receive an additional payment of 10% from the […]
Lehman Brothers Announce Voluntary Liquidation
Three and a half years after the collapse of Lehman Brothers, the respective Boards of Lehman Brothers Pte Ltd (LBPL) and Lehman Brothers Singapore Pte Ltd (LBSPL) have informed the Monetary Authority of Singapore (MAS) that LBPL and LBSPL have been placed under voluntary liquidation. MAS has been informed by LBPL and LBSPL that based […]
New Guidelines to Access Customer Knowledge and Experience
MAS has introduced new requirements for intermediaries to formally assess a retail customer’s investment knowledge and experience before selling certain investment products to the customer. These requirements will come into effect on 1 January 2012. The following list of investment products are excluded from the new scheme: Shares Fully-paid depository receipts representing shares Subscription rights […]
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 […]
Minibond Payout Values
The payout value of the various Minibond series was announced yesterday. Depending on which Minibond tranche you held, the percentage of recovery will range from 21.5% to 70.8%. 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 […]