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The Joint Administrators of LB Holdings Intermediate 2 Ltd (applicant/resp) –v- Lehman Brothers Holdings Scottish LP 3 (resp/appellant) & Ors

Monday 4th October 2021 – Friday 8th October 2021

The Respondents, Lehman Brothers Holdings Scottish LP 3 (`SLP3′), appeal with the part permission of Marcus Smith J his order of 24 July 2020, whereby he declared that the claims of Lehman Brothers Holdings plc (`PLC’) under two long-term subordinated loan facility agreements and one short-term subordinated loan facility agreement with LB Holdings Intermediate 2 Limited (`LBH12′) are claims that rank for distribution before the claims of SLP3 under the Floating Rate Subordinated Notes issued by LBH12 and made consequential costs orders.  Permission was granted on the further grounds by Lord Justice Newey on the 14 December 2020.

View Hearing:

Day 1

Part 1

Part 2

Day 2

Part 1

Part 2

Day 3

Part 1

Part 2

Day 4

Part 1

Part 2

Day 5

Part 1 (final part)