What steps are being taken to recover the assets held by Lehman Brothers Inc (“LBI”)?
LBIE has undertaken an extensive review of its books and records to identify customers with potential claims against LBI. An omnibus claim was lodged on 30th January 2009 to recover cash, securities or other assets held by LBI on behalf of LBIE’s clients. Due to the issues being faced with missing or inaccessible records and IT data, while considerable effort has been made to represent LBIE’s client including gathering of client position responses and authorisation signatures from clients, LBIE cannot guarantee that the omnibus claim has identified every customer with securities, cash or other assets held by LBI through LBIE. As was advised prior to the 30th January 2009 deadline, LBIE’s customers may wish to pursue their rights in the SIPA proceeding by filing a claim on their own behalf with the Trustee as well. If you have cash, securities or other assets that were booked directly with LBI, you will need to pursue these assets separately, as they are not included in the omnibus clai
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