|By PR Newswire||
|April 7, 2014 01:02 PM EDT||
NEW YORK, April 7, 2014 /PRNewswire/ -- James W. Giddens, Trustee for the liquidation of Lehman Brothers Inc. (LBI) under the Securities Investor Protection Act, in keeping with his statutory duty and ongoing focus of maximizing the value of the LBI general estate, along with his counsel at Hughes Hubbard & Reed LLP, continues to implement a strategy to liquidate securities and raise cash for distributions to customers and general creditors.
With the advice and consent of the Securities Investor Protection Corporation and in consultation with advisors to major creditor constituencies, the Trustee retained Miller Buckfire & Co., LLC. and Stifel Fixed Income to help sell all remaining securities.
Consistent with the procedures outlined in the Notice dated February 12, 2014 (available at www.lehmantrustee.com), Miller Buckfire and Stifel Fixed Income are offering Pool 7, a pool of 1,418 DTC Book Entry securities, predominantly equities, for sale. A complete listing of the securities can be found in the data room described below.
- Bids should be sent to [email protected] no later than 2:00 pm Eastern Time on Wednesday, April 30, 2014 with (i) Buyer Contact Information and (ii) Bid Price.
- Miller Buckfire / Stifel will notify winning bidder no later than 4:00 pm Eastern Time on Wednesday, April 30, 2014.
- Bidders will bid on the entire pool.
- All securities will be delivered to the winning bidder. Securities will be delivered to the winning bidder as quickly as the satisfaction of potential administrative issues allow. The Trustee, Miller Buckfire and Stifel make no representation as to the transferability or ability to register sold securities in a specific timeframe.
- An Intralinks data room has been set up to assist bidders with potential diligence. None of the Trustee, Miller Buckfire & Co., LLC, Stifel Fixed Income or their respective affiliates or representatives, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained. Bidders should rely upon their own diligence to determine their interest in bidding on the pool. Requests for Intralinks access can be made to: [email protected].
- The pool will have a reserve price set at the discretion of the Trustee and Miller Buckfire/ Stifel.
Sales inquiries can be made to:
Senior Managing Director
T: +1 203 717 6524
T: +1 203 717 6483
Media Contact for the Trustee
THE SECURITIES SOLD IN ANY AUCTION HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE ACT), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE BENEFIT OF, U.S. PERSONS ABSENT REGISTRATION UNDER, OR AN APPLICABLE EXEMPTION FROM, THE REGISTRATION REQUIREMENTS OF THE ACT AND APPLICABLE STATE SECURITIES LAW. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY THE AUCTION SECURITIES, AND SHALL NOT CONSTITUTE AN OFFER, SOLICITATION OR SALE IN ANY JURISDICTION IN WHICH, OR TO ANY PERSONS TO WHOM, SUCH OFFERING, SOLICITATION OR SALE WOULD BE UNLAWFUL.
SOURCE Office of the Trustee for the Liquidation of Lehman Brothers Inc.