The SFC has applied to the High Court for an order directing Lehman Brothers Asia Ltd to comply with a SFC notice to produce certain records in connection with its investigation of the offer and marketing of Minibonds. The SFC notice required Lehman Brothers to produce to the SFC all documents relating to the assessment of Minibonds by an internal Lehman Brothers committee. Lawyers for Lehman Brothers objected to the production of certain documents on the ground that such documents were the subject of a claim of legal professional privilege. Such claim arises because a member of the internal committee was an in-house lawyer at Lehman Brothers. The SFC disputes that the entire contents of these documents are necessarily the subject of a valid claim of legal professional privilege and asserts that they should be produced in compliance with the notice. Discussions between the SFC and the liquidators of Lehman Brothers, since December 2008, have not resolved this claim of privilege.