Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

>>in the beginning they were expecting end in 2020<<

For those that may not know, in January of this year the court extended the plan to liquidate until December 6, 2020. Payments to lawyers must continue. The extension also included this language. Keep in mind this is in 2017 when much is known as to estimated recoveries unlike back in 2011 when the same was said. Of course this is said about the common and traditional preferred holders. But CTs are basically just one step in front of traditional preferreds. So this is for those that might be holding out for a NOL play.

Any distribution from the assets of LBHI that is made
to the Plan Trust, as holder of the New Common Stock, shall be for the benefit of such former
stockholders in accordance with Section 4.17(b) of the Plan. It is not currently anticipated that
any former stockholder of LBHI will receive any distributions as a result of its beneficial
interests in the Plan Trust.