Investors in Lehman Brothers’ Australian funds await outcome
Investors in Mahogany Capital’s Notes Series await an announcement by the listed investment company regarding the impact of the Lehman Brothers bankruptcy on future distributions.
Lehman Brothers Australia is the lead manager for Mahogany Capital’s Notes Series. The directors of Mahogany Capital are expected to make an announcement tomorrow morning regarding the impact of the Lehman Brothers bankruptcy.
The directors of listed investment company Mahogany Capital yesterday requested a trading halt on the company’s Notes Series II, buying time to allow an evaluation of the impact of the bankruptcy on distributions going forward and the ability to repay principal.
Two of the three directors of Mahogany Capital are employed by Lehman Brothers Australia.
Mahogany Capital director Sean Moore is also senior vice president and chief administrative officer of Lehman Brothers Australia. Moore has been with Lehman Brothers for more than 12 years.
Director Leon Hindle is also managing director and head of the collateralised debt obligation and structured credit trading group at Lehman Brothers Asia. Bishop oversees the trading and distribution of all structured credit products in the Asia-Pacific region for Lehman Brothers Asia.
The other director is Robert Bishop, a solicitor with his own Sydney-based corporate finance business, First Capital Markets.
Moore is a member of Lehman Brothers’ Australian executive, with responsibility for the corporate division that includes finance, product control, risk management, legal and compliance, operations, IT, human resources and marketing and communications, the Mahogany Capital website states.
Moore has also acted as global head of operational risk management for the firm as well as chief operating officer of Equity Trading Europe and financial controller of Continental Europe.
The sole shareholder of Mahogany Capital is P.T. Limited, a wholly owned subsidiary of Perpetual Trustee Company, which holds the share capital of Mahogany Capital Limited on trust for certain Australian benevolent institutions.
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