Declaration of K. Rehns in Support of Plaintiffs' Motion for - Lehman ...

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Case 1:09-md-02017-LAK Document 666-1 Filed 01/13/12 Page 39 of 74 own behalf or otherwise, and regardless of whether or not such Class Member executes and delivers a Proof of Claim Form (except that the foregoing provision shall not apply to any such representative, spouse, domestic partner, trustee, heir, executor, administrator, successor or assign who independently would be a member of the Settlement Class and timely excludes himself, herself or itself). 2 You should be aware that in order to resolve a dispute relating to coverage under Directors and Officers insurance policies purchased by LBHI in connection with this Settlement, the Defendants are releasing certain insurance companies from future liability in connection with claims relating to mortgage-pass through certificates. It is contemplated that all insurance purchased by LBHI that potentially could be available to pay future claims related to mortgage-pass through certificates either will be subject to that release or exhausted as of the date of the Settlement Hearing, such that there will be no insurance available to pay future claims against the Defendants related to mortgage-pass through certificates. 51. “Settled Claims” means, to the fullest extent permitted by law or equity, any and all claims and causes of action of every nature and description, whether known or Unknown, whether arising under federal, state, common or foreign law, or any other law, rule, or regulation, that were asserted or could have been asserted that arise out of the same transactions or occurrences as the claims that were asserted, in the Action. 52. “Released Parties” means Defendants, Debtors in the Lehman Bankruptcy, any other affiliate of LBHI and the Related Parties. 53. “Related Parties” means the Defendants’ respective past or present heirs, executors, estates, administrators, predecessors, successors, assigns, attorneys, parents, 2 As part of the Settlement, the pending appeal of the Intervenors’ claims will be voluntarily dismissed with prejudice following final approval: Iowa Public Employees’ Retirement System v. Franks, Civ. No. 11-1982 (2d Cir. 2011). 25
Case 1:09-md-02017-LAK Document 666-1 Filed 01/13/12 Page 40 of 74 subsidiaries, affiliates, insurers and reinsurers, employers, employees, members, directors, managing directors and officers, and includes the Debtors. 54. The Judgment also will provide that Defendants and each of the other Released Parties, on behalf of themselves, their heirs, executors, administrators, predecessors, successors and assigns, shall be deemed by operation of law to have released, waived, discharged and dismissed each and every of the Released Parties’ Claims (as defined in 55 below), and shall forever be enjoined from prosecuting any or all of the Released Parties’ Claims, against Plaintiffs, and their respective attorneys, and all other Class Members. 55. “Released Parties’ Claims” means any and all claims, rights, remedies, demands, liabilities, or causes of action of every nature and description whatsoever (including, but not limited to, any claims for damages, punitive damages, compensation, restitution, rescission, interest, attorneys' fees/costs, expert or consulting fees, and any other costs, expenses, losses or liabilities of any kind or nature whatsoever), whether legal, statutory or equitable in nature to the fullest extent that the law permits their release in this action, by or on behalf of Plaintiffs, Intervenors or any other Class Members against any of the Released Parties that have been alleged or could have been alleged in the Complaint or in any preceding complaints by any of the Class Members (or in any forum or proceeding or otherwise), whether based on federal, state, local, statutory, or common law or any other law, rule, or regulation, whether known claims or unknown claims, whether class, representative, or individual in nature, whether fixed or contingent, accrued or unaccrued, liquidated or unliquidated, whether at law or in equity, matured or unmatured, that (i) are based upon or arise from any of the allegations, transactions, facts, matters, events, disclosures, statements, occurrences, circumstances, representations, conduct, acts, or omissions or failures to act that have been alleged or asserted in the Complaint 26
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Declaration of K. Rehns in Support of Plaintiffs' Motion for - Lehman ...

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