Lehman Brothers Financial SA (LEHNQ)

[zulual]

Lehman just wants the collaterals back from JPM. If CTs do not raise its class from 10b, I doubt Lehman will forward the collateral to pay CT holders. That is why JPM worried it's responsibility as guarantee.
the contract between the two made 3 months before BK should have certain protection for CTs. There is a reason JPM either demanded or forced Lehman to do so.