Lehman Brothers Financial SA (LEHNQ)

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One sticky point for me is that the same text, Article 8, Section 801, (3), is in the Wilmington Trust Indenture for their Class 3 claim word for word.

The WT indenture has Articles 1-13 and our Sub-debt Indenture has the same with Article 14 thrown in dealing with subordination. The BNYM claim 22122 also has the CTs Prospectus of course.

I don't want the only hope for full CT payment to hinge on Article 8 in the Indenture, because we share that same condition with the senior unsecured we are subordinated to.

Cotton, Toogood, and Hestheman, feel free to pick this apart, because I want to be wrong! Although I feel comfortable that CTs will get paid down the road, just not based on Article 8 alone.

What would set our Article 8 apart from theirs, the fact they agreed to the POR and we didn't? Something else perhaps?