DGAP-News Lehman Brothers UK Capital Funding V LP: Notice of Interim Payment - Seite 2
Issuer Value of interim distribution
LP IV Euro 9,000,000
LP V USD 25,000,000
Background: each of the Issuers were registered as a special purpose limited partnership for the purposes of issuing the Securities. LB GP No.1 Ltd (the "Company") acts as the General Partner of the Issuers. Bruce Alexander Mackay and Matthew Robert Haw of RSM Restructuring Advisory LLP were appointed as joint liquidators (the "Joint Liquidators") of the Company on 28 February 2017 pursuant to a special resolution of the Company's sole member, Lehman Brothers Holdings Inc. ("LBHI"). The appointment of the Joint Liquidators was ratified by the Company's creditors at a meeting of creditors held on 12 April 2017.
The appointment of the Joint Liquidators followed a Court process in which the Company was restored to the Register of Companies with effect from 3 February 2017. The restoration process and a number of related Court Orders that flowed from it were set out in the Joint Liquidators' Notice to Holders dated 23 June 2017 (the "June 2017 Notice"). The Company is part of the Lehman Investment Banking Group (the "Group"). Prior to the collapse of the Group in September 2008, a funding structure was developed by the Group to fund, on a subordinated basis, capital to be made available to Lehman Brothers Holdings Plc (in administration) ("LBH") and LBHI in respect of regulatory capital. The funding structure was established through five limited partnerships as follows:
(i) Lehman Brothers UK Capital Funding LP ("LP I");
(ii) Lehman Brothers UK Capital Funding II LP ("LP II");
(iii) Lehman Brothers UK Capital Funding III LP ("LP III");
(iv) Lehman Brothers UK Capital Funding IV LP ("LP IV"); and
(v) Lehman Brothers UK Capital Funding V LP ("LP V").
(together the "Partnerships" or individually a "Partnership" as the context requires.
The Company acted as a general partner of each of the Partnerships. The Partnerships formed the structure of the capital funding arrangement. The purpose of the Partnerships was to raise regulatory capital for LBH and LBHI by issuing securities to investors.