Appointment of a Creditors' Committee

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In order to allow creditors of Lehman Brothers Finance AG in Liquidation to actively monitor and participate in the liquidation proceedings, the liquidator suggested, after consultation with the Swiss Financial Market Supervisory Authority (FINMA), to appoint a Creditors' Committee.

Based on discussions with FINMA, the liquidator envisaged a Creditors' Committee made up of the four groups of creditors indicated below, with each group having one to three representatives:

Lehman Group Companies number of representatives 2
Other creditor banks1 number of representatives 3
Additional non-privileged institutional creditors2 number of representatives 1
Additional privileged creditors number of representatives 1

1 All creditors included in this group are, based on the best information available to us, believed to hold a form of general banking licence. Creditors are requested to inform us accordingly if they do not hold any such licence.
2 Including owners of securities emitted by LBF and high net worth individuals.


Pursuant to the rules of the Creditors' Committee reviewed by FINMA, the Creditors' Committee will have the following responsibilities:

  1. Decision of issues submitted to the Creditors' Committee for decision or consultative vote by the liquidator;
  2. Decision about claims according to art. 18 para. 2 of the Swiss Ordinance on the Bankruptcy of Banks;
  3. Decision about the scheduling of claims (in particular complex claims) submitted to the Creditors' Committee by the liquidator.

With publication of April 17, 2009, FINMA has set a deadline until May 4, 2009, for the creditors to put forward their suggestion for the representative/representatives of their group of creditors.

The following people are representing the LBF creditors in the Creditors' Committee:
- Lehman Group Companies: Eric Buis, Daniel Staehelin
- Other creditor Banks: Tanja LuginbĂĽhl, Max Roesle, Eric Stupp
- Additional non-privileged institutional creditors: Martin Hess
- Additional privileged creditors: Peter Hafner