Lehman Brothers Financial SA (LEHNQ)

[newflow]

If the stock holders are below 300, as per SEC rule the company dont need to report everything.Hence, LBHI is not reporting its 10-K and 10-Qs.It is issued with only one stock, for the above mentioned reason.
Another side of the story is NOLs around 54B, very worthy asset of the company.Company realized this long time and put a restriction on trading of the securities by 4+% holders so that company can't go for a ownership change knowingly or unknowingly and to utilize NOLs properly.Company chose to use NOL carry forwards for 5 years as per my understanding of the POR and its associated documents.So equity was locked to preserve NOLs.
Other side is, CTs are senior to equity and in class 10B senior to class 10-c ,class 11 and equity(common + traditional preferred), as per POR these allowed claims Claims
21803 - 52520X208 - LEHNQ - New allowed claim numbner 67753
21805 - 52519Y209 - LEHKQ
22122 - 52520B206 - LEHLQ
22123 - 52520E200 - LHHMQ
worth around 1.2B have to be satisfied in full before if there is any distribution to junior classes 10c,11 and former equity.
But to utilize the NOLs, former equity should have a stake.
So the clear link imho is, pay the allowed claims in cash or stock and waterfall goes to former equity and reap the benefits of large chunk of NOLs.