Lehman Brothers Financial SA (LEHNQ)

[wayne49]

Let me see if i can explain what it means in short. The bottonline is that the most likely outcome will be an nol company for equity and reaffirmed debt.

Our prospectus say we are not dischargable and we are in parity with the most senior preferreds. The POR states there will not be any stock distribution while the POR is in effect. The POR also states it will take a discharge.

This is just a general explanation and I might miss some detail.

The discharge will free lehman of the remaining satisfied in full debt and allow them to close the bk safely. Once they discharged and right before they exit the bk, all reaffirmed debts will be reaffirmed. CT will be reaffirmed because we are not dischargable. After they reaffirm, they will exit the bk and issue the new stocks of nol lamco to equity and reaffirmed debt. Then its all over. That is our outcome.

I ask about the 15.2 point by indepth because if it was issued post por its huge.
That is why i asked is it new. Is it? Where is 15.2 coming from?

I am probably missing details to the explanation but that is the short version from me. Any other questions ask LD.