Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

The balance sheets are audited internally. When a balance sheet is shown to not be audited for a public company that means they have not been audited by an outside independent firm. I am sure LBHI thinks why hire someone to audit and pay that money when it can go to creditors, and they are totally confident in Alvarez and Marsal's accounting.

Anyway, your reply has nothing to do with what I stated about secured debt. It is a simple transaction. You default on your debt, you give the collateral to the lender. Whether the balance sheet is audited or unaudited would not make a difference.