Date: May 12, 2009
file a claim if I have received some compensation from the FI?
Generally, an investor would not be able to claim losses for which he has already received compensation. But if you did not receive full compensation, you can still file a claim for the balance amount. This is because you are filing a claim against a different party, which is LBI.
Q4: Can I file a claim if my complaint is still being reviewed by the financial institution or has been lodged at FIDReC?
Yes. Any claim against LBI , the arranger of the notes, is distinct from a claim against the financial institution that sold the notes. But do not forget that you cannot get compensation, from various parties, that is in aggregate more than the amount you have lost.
Q5: Can I file a claim if I invested in other series of Minibond notes (i.e. other than series 1, 2, 3, 5 and 6)?
SIAS understands that LBI is the arranger for Lehman Minibond Series 1, 2, 3, 5 and 6 notes. The Lehman Minibond Series 7, 8, 9 and 10 notes were arranged by Lehman Brothers Singapore Pte Ltd, and not LBI.
Q6: Where can I get information on how to file a claim against LBI?
Information on the claims process and where claims forms can be lodged is available on the website of LBI’s court-appointed trustee in the US at http://www.lehmantrustee.com. Further information is also available at the website of the Securities Investor Protection Corporation in the US at www.sipc.com
Q7: Who can I approach if I have questions on how to go about filing a claim against LBI in the US?
SIAS is unable to advise investors whether and how to file a claim as these concern private civil claims. You will need to obtain your own legal advice on the course of action appropriate for your case, taking into account the need to prove your claim based on your individual circumstances. You should also obtain advice on what effect a filing in the US against LBI may have on any claim against LBI in Singapore. SIAS makes no recommendations. You need to carefully consider the US lawyer’s cost as it should not outweigh the amount you hope to recover. You also need to bear in mind that you have to establish the basis of you claim under US law. There is also a possibility that the US liquidator may reject your claim.
file a claim if I have received some compensation from the FI?
Generally, an investor would not be able to claim losses for which he has already received compensation. But if you did not receive full compensation, you can still file a claim for the balance amount. This is because you are filing a claim against a different party, which is LBI.
Q4: Can I file a claim if my complaint is still being reviewed by the financial institution or has been lodged at FIDReC?
Yes. Any claim against LBI , the arranger of the notes, is distinct from a claim against the financial institution that sold the notes. But do not forget that you cannot get compensation, from various parties, that is in aggregate more than the amount you have lost.
Q5: Can I file a claim if I invested in other series of Minibond notes (i.e. other than series 1, 2, 3, 5 and 6)?
SIAS understands that LBI is the arranger for Lehman Minibond Series 1, 2, 3, 5 and 6 notes. The Lehman Minibond Series 7, 8, 9 and 10 notes were arranged by Lehman Brothers Singapore Pte Ltd, and not LBI.
Q6: Where can I get information on how to file a claim against LBI?
Information on the claims process and where claims forms can be lodged is available on the website of LBI’s court-appointed trustee in the US at http://www.lehmantrustee.com. Further information is also available at the website of the Securities Investor Protection Corporation in the US at www.sipc.com
Q7: Who can I approach if I have questions on how to go about filing a claim against LBI in the US?
SIAS is unable to advise investors whether and how to file a claim as these concern private civil claims. You will need to obtain your own legal advice on the course of action appropriate for your case, taking into account the need to prove your claim based on your individual circumstances. You should also obtain advice on what effect a filing in the US against LBI may have on any claim against LBI in Singapore. SIAS makes no recommendations. You need to carefully consider the US lawyer’s cost as it should not outweigh the amount you hope to recover. You also need to bear in mind that you have to establish the basis of you claim under US law. There is also a possibility that the US liquidator may reject your claim.
