Lehman Brothers Financial SA (LEHNQ)

[marayatano]

No... principal and interest due to seniors are to be paid in full, regardless of any principal and interest due on subordinates and equity.

Any divy distributed to subordinates will vigorously objected by ALLL creditors, besides, the debtor has to petition the court and have a divy approved by the court. Debtors just can't pay divies without court approval. Guess what, not gonna happen. Debtors will NEVER petition the court to pay divies to subordinates when seniors are deficit in principal. (exception to REITs)


Prospectus is trumped by BK law, therefore, no divies beyond the 18 months until eternity or seniors paid in full, principal and interest.

imo