Lehman Brothers Financial SA (LEHNQ)

[newflow]

They are paying senior creditors from Class 1 -Class 9 by settled percentages, in cash and as and when there is cash available.
In order to use the NOLs properly, the company assets have to be greater than liabilities.And also old equity and creditors need to get atleast 51% in the new company imho.
And CTs have a subordinated debt priority at the bottom of the creditors water fall.But CTs are senior to equity and need to be paid in full before there is any distribution to equity.
All the creditors are settled with LBHI and other debtors to put assets with LAMCO for a new business which can help utilizing 54B NOLs available in 5 years from effective date.All creditors can be satisfied full with cash paid and future stock distributions.
That is the only way to resolve this mega case and 100000s of claims filed against it.AJMO.