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Thursday, November 23, 2017 10:17:26 AM
Why? The ECAPS prospectus "trigger event" require LBHI to list the ECAPS substituted preferred stock on an exchange. Listing the substituted preferred stock on an exchange will change their asset state from illiquid to liquid assets. Due to LBHI's preferred stock relative priority, the most senior preferred stock (LBHI's TRuPS) are due back interest prior to this solution!
Will this solution happen? I do not know! The people from England and Wales have made me happy with their decisions (the treatment of surplus waterfall claims) in this global bankruptcy thus far!
Note: The common people want and need liquid assets ASAP! LBHI's creditors set a good example for wanting their cash ASAP! Show a little dignity for the common people! I would take 40% for my Plan Trust investment today versus waiting three more years to increase it to 47%. A windfall for common people is much smaller than a windfall for LBHI's creditors.
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"dig·ni·ty/'dign?de/
noun
the state or quality of being worthy of honor or respect.
Dignity | Define Dignity at Dictionary.com
www.dictionary.com/browse/dignity - Cached - Similar
1. bearing, conduct, or speech indicative of self-respect or appreciation of the formality or gravity of an occasion or situation. 2. nobility or elevation of character; worthiness: dignity of sentiments."
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