Lehman Brothers Singapore subsidiaries announce voluntary liquidation

One subsidiary has also submitted its resignation from the Singapore Exchange.

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, said MAS in a release.

Chay Foo Yuen, Bob Yap Cheng Ghee and Tay Puay Cheng of KPMG Services Pte Ltd have been appointed as the joint and several Liquidators of the two companies. Upon the voluntary liquidation of LBPL and LBSPL, both companies will also cease holding capital markets services licences, it added.

MAS encourages affected investors to mull over their options in reaction to the voluntary liquidation announcement, or submit their queries via these contact points: sg-fmlehmanbrothers@kpmg.com.sg and +65 8183 8014.

"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."

In a seperate release, the Singapore Exchange said it has accepted the resignation of LBPL as a member of Singapore Exchange Derivatives Trading Limited, Singapore Exchange Derivatives Clearing Limited, Singapore Exchange Securities Trading Limited and The Central Depository Pte Ltd. The resignation will take effect March 21.