Lehman Brothers Financial SA (LEHNQ)

[newflow]

CTs were issued by LBHI as subordinated note, ie debt.Equity is not debt, hence locked so that there wont be any change of ownership due to acquiring equity at a cheaper price.CTs are debt claims, still trading.Whoever holds the claims at the time of record date would be distributed after all claims in senior are paid,before equity gets paid.IMHO they can't lock CTs trading legally and they let them trade it for a reason IMHO.