Meteor says solvent Lehman investments are 'probably fully recoverable'
A number of Meteor’s plans have invested in securities issued by two Lehman Brothers subsidiaries, Lehman Bothers Securities NV Netherlands Antilles and Lehman Brothers Treasury Co BV Netherlands, both guaranteed by Lehman Brothers Holdings.
In an update issued to advisers on October 3, Meteor highlights that LBT which provides medium term notes that back Isa investments is in administration but LBS NV which backs direct investments is not currently subject to any kind of administration or insolvency procedure.
Meteor stresses that the situation could change in the future but says any positions with solvent Lehman companies or with third parties are “probably fully recoverable”, whereas positions with other Lehman companies which are in insolvency procedures may be “only partially recoverable or not at all.”
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|Autor (Datum des Eintrages):||manyfulddick (06.10.08 16:47:09)|
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