Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

>>Since when does a class of secured creditors get paid last in a bankruptcy case? <<

Here you go again showing that you do not understand what you own. The Cts are not secured. If they were the security would have been identified and addressed in the prospectus. The collateral that JPM held was for themselves and their customers. The courts frowned on the "customers, and JPM dropped their argument that the collateral should be applied to their customers. The CTs are not a JPM customer, but in the end that does not matter anyways.

LBHI secured debt was never part of the BK. Those creditors called in the collateral backing their debt.

READ THE PROSPECTUS COTTON!