Bankruptcy treasury trustees for Lehman Brothers have published a new bankruptcy report on Lehman Brothers Treasury Co. BV (LBT).

In their 13th report since the collapse of the US investment bank, LBT's bankruptcy trustees announced that LBT has received over US$1bn from Lehman Brothers Holdings Inc. (LBHI) and has disclosed the approximate timing of formal claims filing.

According to the report, note holders should consult the final valuation list as it supersedes all previously published valuations. Additionally, certain valuations have been amended.

In addition to the 13th report, the bankruptcy trustees also published their latest list of LBT ISIN codes which contains information on which series of notes have been 'successfully' accelerated, as well as a list of funding spreads and expected maturities relating to the relevant ISINs of LBT notes for non-accelerated notes that have not contractually matured as of 30 April 2012.

The trustees have also disclosed an overview of the swap rates as of 12 September 2008, which were applied in calculating the estimated credit spread adjustment.

In addition, LBT's bankruptcy trustees have announced that 29 October will be the last date for reporting errors in LBT note valuations, in which note holders are entitled to request the bankruptcy trustees to reconsider valuations.

The report also states that LBT intends to present a composition plan through which account holders will be requested to contact note holders - via the relevant intermediaries - for instructions with respect to the claims filing and the voting on the LBT composition plan.

Dutch insolvency law stipulates that the acceptance of a composition plan requires the approval of the majority of ordinary non-preferred owners of a particular nominal amount of creditors appearing at the claims admission, representing at least 50% of the total amount of the admitted and conditionally admitted ordinary non-preferred claims.

LBT's bankruptcy trustees expect that the claims admission meeting will take place in the first quarter of 2013, when the LBT composition plan will be put to a formal vote.

The list of structured notes valuations with ISIN codes is available here.

The LBT bankruptcy trustees report is available here.