Syncora Holdings Ltd. (fka SYCRF)

[mrholty]

I think its important to note that Lehman's administrator is the same guy who was named the administrator for the City of Detroit. I'm guessing the legal teams (and there are hundreds on Lehman) know each other.

This Lehman thing is interesting in that the expected ratio keeps increasing. I think in the article it estimates payout at something like 38%. A few years back I watching the Lehman trainwreck play out as I owned a stake that had a claim against Lehman for $80M. As part of the BK process at that time it appeared that unsecured debtors were getting 1-2%. Its now up to 38%. In the case I was watching I think that $80M claim was sold for $400k or .5%. That $400k investment is now worth $28M-that is a solid return.