Lehman Brothers Holdings Capital Trust V (LHHMQ)

Please feel free to discuss all Lehman Brothers Stocks (Preferred & Common) on this board!

CAUTION THIS STOCK IS IN BANKRUPTCY, DO YOUR OWN DD.

Lehman Preferred Series "M" stock

LHHMQ-Lehman Brothers Holdings Capital Trust V 6%

6.00% Preferred Securities, Series M

$25 par, 16,000,000 outstanding.

Pays $1.50/share until 2053 (SUSPENDED DUE TO BANKRUPTCY)

Link to Prospectus- http://www.sec.gov/Archives/edgar/data/806085/000104746904010912/a2132819z424b2.htm

If LEH comes out of BK with Assets = liabilities; then old stocks are cancelled and new shares issued.

If A > L then there is monies for OTHER preferreds and commons and stock may not be cancelled

"The preferred securities are effectively subordinated to all senior indebtedness of Lehman Brothers Holdings and all existing and future liabilities of its subsidiaries."

Trust Preferred shares have priority

over other preferred /common shares in

 dividends (suspended)

 and liquidation.

Trust Preferred share symbols are LEHKQ, LEHLQ, LHHMQ, LEHNQ

ONLY THESE ARE JUNIOR SUBORDINATED DEBT 

The last Div was $.38/share (before BK-now suspended)

Here is some new DD for the trusts, after all we are creditors:

• Lehman expects Unsecured creditors will be paid according to the original bankruptcy fileing:
  http://amlawdaily.typepad.com/amlawdaily/files/lehman.pdf
  "Debtor estimates that funds will be available for distribution to unsecured creditors."

• 

• "Creditors of LEHMAN BROTHERS would receive stock rather than cash under a plan that could separate its illiquid assets into two companies, which would force them to wait for repayment but potentially boost their returns."
  http://www.ft.com/cms/s/0/93a88ce0-f095-11dd-972c-0000779fd2ac.html

• Research Lehman Preferred Stocks at http://www.quantumonline.com/ Just type in the symbol

LHHMQ AND THE OTHER TRUST PREFERRED SHARES WILL BE FIRST AFTER SENIOR BONDS. Here is what the prospectus says: 

"The preferred securities are effectively subordinated to all senior indebtedness of Lehman Brothers Holdings and all existing and future liabilities of its subsidiaries."

The Bank of New York Mellon has filed CLAIM # 22123   for shareholders of LHHMQ against debtors LBHI

Link to:View Cramer's Mad Money video on CNBC

The ghost of Lehman Brothers will forever haunt Tiny Tim Geithner, Cramer said Thursday(2/19/09). The Treasury secretary's decision to let that investment bank fail will be a black mark on his credibility. In fact, it's the whole reason he can't garner popular support for his latest rescue plan.

Geithner's always claimed he didn't have the legal authority to save Lehman, but Cramer's sources tell a different story. And the implications could affect Citigroup [C  1.95    -0.56  (-22.31%)   ] , Bank of America [BAC  3.79    -0.14  (-3.56%)   ] and all rest of the banks. Will Geithner ever admit his mistake, or will these institutions go under as well?

See his Outraged by U.S.Treasury Secetary Geithner's Questionable Testimony Before Congress about Lehman's Failure