Lehman Notes - lost everything...

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  1. #31

    Join Date
    Sep 2008
    Posts
    1

    Lehman Brother's Principle protected notes

    Does anyone have information on how much if any can get back from Lehman's principle protected notes linked with foreign currency exchange?


  2. #32

    Lehman ELN

    Hello,

    I had bought one of the Lehman Brothers 1 yr HKD All Weather Coupon Daily Callable ELN with Window Ki - series at April from SCB.

    There is no terms or conditions or other description are provided at the time I purchase it. I just received a leaflet showing what securities for this note linked to with knock-in, airbag percentage disregard any about risk to LBHI. About three or four days after purchase, I received the description and terms. The issuer of my note is Lehman Bros Treasury Co BV and guarantor is Lehman Bros Holding Inc.

    The note I bought is graded as senior and, after the bankrupty, I had sent an enquiry to SCB. They show me the following Sequences of claims in default

    Secured Debt
    Senior Unsecured Debt
    Unsecured Debt
    Subordinate Debt
    Preferred Stock and Ordinary Stock

    My note is belonged to #2 above. As I know, Lehman Bros Treasury Co BV is located at Netherland and trading at London. Per SCB, there is no receive info showing LB Treasury Co BV had been applied for any similar bankrupty like LBHI under Chapter 11 in US.

    Please keep contact to everyone upon any news received.


  3. #33

    I have something almost the same except linked to security. Accordingly to SCB's estimate, senior note hopefully will recieve around 20-30% from face value (no guarantee). However I was not told Lehman Bro. Treasury Co BV is not under Chapter 11. Does it mean the note is still under trade and not affect by the liquidation ?

    MM


    Quote Originally Posted by martinchimmt:
    Hello,

    I had bought one of the Lehman Brothers 1 yr HKD All Weather Coupon Daily Callable ELN with Window Ki - series at April from SCB.

    There is no terms or conditions or other description are provided at the time I purchase it. I just received a leaflet showing what securities for this note linked to with knock-in, airbag percentage disregard any about risk to LBHI. About three or four days after purchase, I received the description and terms. The issuer of my note is Lehman Bros Treasury Co BV and guarantor is Lehman Bros Holding Inc.

    The note I bought is graded as senior and, after the bankrupty, I had sent an enquiry to SCB. They show me the following Sequences of claims in default

    Secured Debt
    Senior Unsecured Debt
    Unsecured Debt
    Subordinate Debt
    Preferred Stock and Ordinary Stock

    My note is belonged to #2 above. As I know, Lehman Bros Treasury Co BV is located at Netherland and trading at London. Per SCB, there is no receive info showing LB Treasury Co BV had been applied for any similar bankrupty like LBHI under Chapter 11 in US.

    Please keep contact to everyone upon any news received.

  4. #34

    Lehman ELN

    Dear,

    Do anyone send any complaints to HK SFC or HKMA? If so, please advise if you had receive any feedback. What they are talking about? From the list per HK SFC, the similar Callable ELNs and issuer Lehman Bros Treasury Co bv are not listed. I am thinking whether this ELN is governed by security law.

    Meanwhile, I had sent the enquiry about my situation to HK SFC at 9/17 and had not receive any feedback. I will further talk, may be more times, with SCB for more about current situation and where my contact is.

    Also, keep in touch to all of us.

    Regards,


  5. #35

    Pls keep in touch & all be informed of any update.


  6. #36

  7. #37

    capital protected - do i lose

    dear,
    i invested in 15 yr 'cran 4 series' note which is issued and 100% capital protected (if held till maturity) by lehman brothers holding inc, maturity in 2023. the coupon is payable if 3 mth libor remains in 0-7% range.the invested was thru a local bank in dubai. when contacted, the answer so far is that they have no info. they said that they are trying to get in touch with PwC the liquidators, but no sucess as yet. if they issuer is LBHI why is the bank trying PwC unless the note was issue thru lehman's london or amsterdam office, in which case isnt their a misinformation in the term sheet? also in case of capital protected, wouldnt there be credit default swap/insurance to protect the principal and we be covered as a secured creditor? kindly advice. thks and regards


  8. #38

    Lehman ELN

    Have anyone contact or send complaint to HK SFC or HKMA?

    I had sent enquiry to HK SFC. They said that my note should be referred to HKMA. Any complaint should be sent to HKMA. Per SCB, my note issued by LB Treasury Co BV is placed at Netherland but the local court had adminstrated it. SCB said they are trying to access it to receive quick reply around two weeks.

    I am thinking to send the complaint to HKMA as I had not received any info about the case of LBHI being got bankrupty. What I know is come from the banking advisory sending e-mail to me. Documents are received at 5 days after my purchase. Do you have the same experience when purchasing? Please come and update each other.


  9. #39

    Lehman ELN

    With further review the Term & conditions for this ELN, I had seen that there is a statement in small word mentioned that "The content of this termsheet have not been reviewed by any regulatory authority in HK". I buy it from SCB but, up to now, no one mentioned about it. I do think whether this product is governed by HK or if it is legal to be sold in HK. The whole process of sale and purchase are made in HK. I will forward this to SCB for more info and then HKMA.

    Do your ELN have the same statement in the Term & conditions? If so, please let us know. I think it should be sent to HKMA for more info and record.

    Please keep us posted for any update.


  10. #40

    Join Date
    Sep 2005
    Posts
    299

    I heard that the mini-bonds were an approved product by the HK authority. Such a farce that they were sold to private investors.

    Especially since in HK, you get so many people calling you up for finance and insurance products and they try to persuade you to verbally confirm, then they send you the contract later. If you try and ask to see the contract first, then they say they can't send you one until you agree.


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