Hedge Funds in Penson bonds

7/29/2019 Hedge Funds in Penson bonds

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UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

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In re:

PENSON WORLDWIDE, INC., et al.,

Debtors.1

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Chapter 11

Case No. 13-10061 (PJW)

(Jointly Administered)

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FEDERAL RULE OF BANKRUPTCY PROCEDURE 2019 VERIFIED

STATEMENT OF FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP

Fried, Frank, Harris, Shriver & Jacobson LLP (Fried Frank), in connection with its

representation of certain holders of (i) the 12.50% Senior Second Lien Secured Notes due 2017

(the Second Lien Notes) issued by Penson Worldwide, Inc. and guaranteed by SAI Holdings,

Inc. and Penson Holdings, Inc. submits this Federal Rule of Bankruptcy Procedure 2019 verified

statement (the Verified Statement) and respectfully states as follows:

1. As of the date of this Verified Statement, Fried Frank represents certain holders of

the Second Lien Notes identified in Exhibit A attached hereto (with its affiliates, each a

Case 13-10061-PJW Doc 96 Filed 02/01/13 Page 1 of 5


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have entered into and left the engagement. As of the date of this Verified Statement, Fried Frank

represents only the Holders identified on Exhibit A.

3. Each Holder holds claims or manages accounts that hold claims against the Debtors

estates arising from the purchase of the Second Lien Notes. With respect to certain of the

Holders, their economic interests in relation to Penson Worldwide, Inc. have changed since the

date of the Holders retention of Fried Frank, including since the petition date. The address and

nature and amount of each Holders disclosable economic interest held in relation to the Debtors

as of the date hereof is set forth on Exhibit A. Further, in addition to the economic interests set

forth in Exhibit A, each Holder may have claims against the Debtors arising out of the Debtors

misleading public statements and financial reports. The information contained in Exhibit A is

based upon information provided by the Holders to Fried Frank and is subject to change.

4. Neither the filing of this Verified Statement nor any subsequent appearance,

pleading, claim, or suit is intended or shall be deemed to waive: (i) the right to have orders in

non-core matters entered only after de novo review by a district court; (ii) the right to trial by

jury in any proceeding so triable in any case, controversy or adversary proceeding; or (iii) the



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5. The undersigned verifies under penalty of perjury that the foregoing is true and

correct to the best of his knowledge and belief.

Dated: New York, New YorkFebruary 1, 2013

Respectfully Submitted,

FRIED, FRANK, HARRIS, SHRIVER& JACOBSON LLP

By: /s/ Gary KaplanGary Kaplan, Esq.Fried, Frank, Harris, Shriver & Jacobson LLPOne New York PlazaNew York, New York 10004-1980Phone: 212.859.8000Facsimile: 212.859.4000

Attorneys for the Holders



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EXHIBIT A



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Nam e of Creditor Addres s of Creditor Na ture a nd Amount of Dis clos able Eco nom ic Interes t:

Funds and accounts under managementby Fidelity Management & ResearchCompany

82 Devonshire Street, V13HBoston, Massachusetts 02109

$21,101,000 in principal amount of Second Lien Notes

Funds and accounts under managementby Highland Capital Management, L.P.

300 Crescent Court, Suite 700Dallas, TX 75201


Funds and accounts under managementby Knighthead Capital Management,LLC

1140 Avenue of the Americas12th FloorNew York, New York 10036


Funds and accounts under managementby Pine River Capital Management, LP

601 Carlson Parkway, Suite 330Minnetonka, Minnesota 55305


$2,000,000 in principal amount of 8.0% ConvertiblesNotes due 2014 (short position)

Funds and accounts under managementby Redwood Capital Management,LLC

910 Sylvan Ave.,Englewood Cliffs, New Jersey 07632



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Hedge Funds in Penson bonds