Lehman Brothers Financial SA (LEHNQ)

[wamugold]

The trustee in this case JPM has ignore refused to make a liquidation distribution of the CT's so CT's subordinated debt has been added to class 10B

It seems to me JPM could be sued for nonpayment although I doubt they will get sued by retailers. My guess is sooner or later they have to address the CT's especially if they want to form a new company and make use of the NOL's which are considerably larger than WAMU's

SO we either get a cash distribution or we get new shares in a new company. Common its only ~$2B to make CT's whole, I think is doable plus Lehman has raised quite a bit of money probably more than they thought they could.

LEHKQ LEHLQ LEHHMQ LEHNQ = 48M shares = $1.2B

$1.2B x ~6% x 10 years = 720M ==> $1.2B + 720M = ~ $2B