Lehman Brothers Treasury Announces Launch of Partial Wind-Down and Related Consent Solicitation

AMSTERDAM–(BUSINESS WIRE)– Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”) today, through its U.S. counsel Kramer Levin Naftalis & Frankel LLP, announced that, in furtherance of its previously announced partial wind-down and in preparation of a final distribution, LBT has launched a solicitation process pursuant to which certain qualified noteholders will have the option to receive substitute notes in exchange for their eligible notes.

Those creditors of LBT who are not eligible (or do not elect) to receive substitute notes will receive a final cash distribution from LBT funded in large part with the proceeds of the sale of a portion of LBT’s intercompany claim against Lehman Brothers Holdings Inc..

For more information on the partial wind-down, including information about the intercompany claim sale, the final cash distribution, the substitute notes, eligibility requirements, and anticipated timelines, an Information Notice will be posted to LBT’s website at www.lehmanbrotherstreasury.com.

The foregoing is subject to further consents and authorizations and LBT retains sole discretion to abandon or otherwise discontinue any solicitation or sale process at any time. Accordingly, there can be no assurances that either the solicitation or the sale process will be conducted or consummated, or if conducted or consummated, the timing thereof. There also can be no assurance as to the amount of cash distributions, if paid, now or in the future.

LBT does not undertake to publicly update its disclosure to reflect developments in this matter.

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Contacts

Niels Huurdeman, Houthoff
Tel: + 31 20 605 65 56
or
Daniel Eggermann, Kramer Levin Naftalis & Frankel LLP
Tel: + 1-212-715-9495