joe,
<<They have cash flow from cash invested in short term securities, and from liquidation of assets.>>
They could have asked for matching concessions for distributions to claims stc, bought down more valid claims that trade, invested in profitable business operations (derivatives, etc.) and held onto people that were profitable.
<<Lehman is not in the business of anything at this point as the income producing assets have been sold. The last balance sheet shows that. When they did still own buildings and stuff they had rental income coming in. That is no longer the case.>>
You're proving the point LBHI was looted under fire-sales. Unless we see GAAP financials that account for the synthetics, sale residuals and all forensic analysis, we aren't going to know where the assets are and their market value.
<<That senior debt has been converted to claims. Saying that they just need to make up interest payments on debt to become current and back in business shows a complete lack of understanding of the BK process. Again, look at the balance sheet assets. Lehman is not in business and will never be again. The liquidation plan even says if anything can't be liquidated, or any assets left, are to be donated to charity. Says that right in the plan.>>
You're right I don't understand many things about this BK because Marsal & Weil have been moving the goal posts from Chp 11 to more of a Chp 7 without any concern of the equity holders, employees or subordinated debt.
Our Indenture Trustee has done very little to nothing for CT holders so far while they impaired the shares in 2011-2013 and currently trade under restrictive algos.
Somebody posted today about a hedge fund buying 20k. Why isn't it Chase or BNYM scooping up this stuff to recover the Trust as Tier 1?
Good luck.
mojo
