Lehman Brothers Financial SA (LEHNQ)

[dnello]

I am of the opinion that the guarantee applies. My logic is that CTs are/were considered T1 capital and as such would qualify under the QFC (Qualified Financial Contract) and be required to be satisfied as a "covered" contract at the beginning of this whole debacle.

Given the haste at which this BK happened rather than a typical planning phase which should have been months instead of days they were overlooked. I cannot imagine being in the small group of folks that had to deal with this when they were told they were screwed. I bet they were 100% confident on day 1 they were going to get a life line and on day 2 bk. To be a fly on that wall.