Lehman Brothers Financial SA (LEHNQ)

[stockmojo9]

"“Substituted Preferred Stock” is defined as “fully-paid non-cumulative preferred stock issued directly by LBHI bearing a right to dividends calculated in the same manner as the [ECAPS], having no voting rights (except as required by law) and being subject to optional redemption in the same manner as the [ECAPS].” (See § 1 of the Description of the Preferred Securities in each prospectus (the “ECAPS Terms”).) 08-13555-scc Doc 57037 Filed 11/21/17 Entered 11/21/17 18:26:29 Main Document"

RSM filed for an Informal Investment Company ("IIC") last week that seemed to have restricted power IMO because of the priority of the CTs and since a UK entity has failed to purchase the CTs because of the liability going forward some of which is the RMBS $11.4B settlement this week.

So, if we don't have a deal, issue Substituted Preferred Stock.

That is my understanding.

Anyone else have an opinion?

Am I wrong?