Lehman Brothers Financial SA (LEHNQ)

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WHY THESE SECURITIES ARE TRADING AND WHY NOT COMMON AND PREFERRED?

Same FAQ
http://portal-redirect.epiq11.com/LBH/document/GetDocument.aspx?DocumentId=2838487
7. What is the record date for claims transfers and why was one set?
Parties may buy and sell claims against the Debtors. When making distributions to holders of allowed claims, it is necessary to set a record date for claims ownership to have a fixed set of record holders who are beneficiaries of the distributions. Acquirers of claims need to ensure the process of recording their ownership is complete before the distribution record date for the distribution following their acquisition. The record date for the October 6, 2016 distribution is August 27, 2016.