Lehman Brothers Financial SA (LEHNQ)

[wayne49]

Yes, you are right. I need to reword about the guarantee. Judge Peck ruled in the Citi case that all guarantee terms in the LBHI BK all stand and are valid Under Title 11 which gave Citi the win.

It is not just with the Lehman BK. All guarantee claim's terms stand and are valid under any Title 11 case. Just FYI, for those who will be playing future BKs.


Summary: We do not have a guarantee claim but, Judge Peck ruled that the guarantee terms stand and are valid under Title 11.

The two most important for us from our Prospecti are, 1. Parity with most Senior Ps and 2. Non-dischargable. Non Dischargable of our guarantee leads us to the bare minimum redemption of sub debt payout, on average per case studies is about 8-50%. Enron got about 2.50 for their CTs.

Jers is right. We should be clear.