A Resolution Scheme for Lehman Brothers related Constellation Notes
proposed by DBS Bank (Hong Kong) Limited
14 July 2010 - DBS Bank (Hong Kong) Limited (“DBSHK”) today announces that we have reached an agreement with the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) in relation to the bank’s distribution of Lehman related Constellation Notes ("Notes").
DBSHK is offering a resolution scheme to its customers who invested in the Notes (please see the press release of the SFC for details). Resolution payments are being offered, without admission of liability, in the interests of our relationships with our customers and in the broader interests of the Hong Kong financial system. The HKMA and the SFC also consider that the resolution scheme is reasonable and appropriate.
We remain deeply concerned about our customers who have invested in the Notes and understand the anguish they have been facing. We will continue to do the right thing for our customers, and have made it a top priority to resolve the situation.
We have set up an Investor Care Centre hotline at 2290 8123 to answer any queries from customers who have purchased the Notes from DBSHK.