Voluntary Liquidation of Lehman Brothers Singapore Pte Ltd and Lehman Brothers Pte Ltd
SINGAPORE, 21 March 2012… The respective Boards of Lehman Brothers Pte Ltd (LBPL) and Lehman Brothers Singapore Pte Ltd (LBSPL) have informed the Monetary Authority of Singapore (MAS) that LBPL and LBSPL have been placed under voluntary liquidation today, and Messrs Chay Foo Yuen, Bob Yap Cheng Ghee and Tan Puay Cheng of KPMG Services Pte Ltd have been appointed as the joint and several Liquidators for the two companies.
2 Upon the voluntary liquidation of LBPL and LBSPL, both companies will also cease holding capital markets services licences.
3 MAS has been informed by LBPL and LBSPL that based on their respective records as at 31 January 2012, they held a net cash position of USD331,796,699 and USD39,660,340 respectively. The liquidators will deal with the assets of the entities in accordance with the relevant liquidation rules.
4 MAS is releasing this information in public interest and is not in any way providing legal advice to investors. Investors may choose to obtain independent advice on their next course of action, based on their own particular circumstances.
5 The Liquidators have provided a set of FAQs (kpmg.com.sg/LehmanBrothers) and established a hotline to answer queries on the liquidation. The contact details of this hotline are as follows: Email address: firstname.lastname@example.org; Hotline: +65 8183 8014