Lehman Brothers Financial SA (LEHNQ)

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"Lehman Brothers UK Capital Funding V LP" is holding a LBHI class 10A subordinate note for their ECAPS Preferred Securities holders. The notice is about substituting the ECAPS Preferred Securities ($500,000,000) with fully paid non-cumulative preferred stock issued directly by LBHI.


In bankruptcy, one has to treat the entire class "10A" the same! Well, "Unaffected Matters" applies to LBHI classes 10ABC. We will see what happens!


Note: The Debtors were not in a position to issue preferred stock until after the effective date: March 6, 2012. The preferred stock will not have any value unless they are placed on an exchange. Our TRuPS trade on an OTC exchange. So this will impacts LBHI's investors forward looking statements!