Lehman Brothers Financial SA (LEHNQ)

[slimugrian]

Docket # 58100, page 14

33. The Plan Administrator seeks approval solely for the act of issuing
Substitute Preferred Stock. This is an act in furtherance of the implementation of the Plan but
not expressly authorized or prohibited by the Plan. There is no alteration of “payment rights” of
any creditor or party in interest because the issuance of the Substitute Preferred Stock will not
result in any dividend being paid ahead of any prepetition claims given that the Substitute
Preferred Stock will be cancelled pursuant to the Plan.

Anyone want to interpret that?