Draft letter to Trustee of Minibond

I have prepared a draft letter for the Mini-bond investor to sebd by fax to the Trustee, HSBC. You have to change the letter to contain the details that is relevant to your case. So far, 31 investors have provided their particulars to me, asking for collective action to be taken. I will be e-mailing them to take this action.

If you have changed the draft to suit your circumstance, please send it to kinlian@gmail.com. I will share the draft with other investors (after removing your personal particulars)

DRAFT LETTER
Date


HSBC Institutional Trust Services (Singapore) Limited, 
21 Collyer Quay, #14-01 HSBC Building, 
Singapore 049320

By Fax: 65331077

Minibond – Series XX

Dear Sir,
I am a holder of the Mini-bond Series XX. My particulars are:

Name: xxxxxxxxxxxxxx
Certificate Number: xxxxxxxxxxx
Amount invested: $xxxxxxxxxx

I have received a letter from you, as the Trustee of the above Notes, informing me about the liquidation of the Notes as follows:

Fee to Lehman Brother Special Financing (LBSF): xxx%
Fee to liquidator: xxxx%
Legal fee: xxxx%
Residual value to Note holder: xxx%

I wish to ask for your clarification on the following:

1) What is the authority on which you have acted to liquidate the above Notes?
2) Why did you fail to call for a meeting of the Note holders to discuss the above action?
3) Who decided on the fee to be paid to LBSF? How is the payment of this fee in the interesst of the Note holders?
4) As a Note holder, am I legally bound to accept the action that you have taken to liquidate the Notes without my approval?

I wish to ask for you, as the Trustee, to convene a meeting of the Note holders for the above Series, so that these issues can be discussed and the appropriate explanation given to us.

Name

Address
Telephone
E-mail address