Lehman Brothers Financial SA (LEHNQ)

[stoxjock]

"Exactly. And the various assets were assigned classes and given a claim against the estate based on those classes. That "claim" is the debt holders new "debt" holding, replacing the old debt represented under the old prospectus agreements."

What nonsense... A Claim does not 'abrogate' any 'old debt' underlying that claim. That's why all those Hedge Funds who bought Lehman/LBHI or other European subsidiaries Debt securities for literally 'pennies on the Dollar' made 100% of FV or even more than the FV of those bonds, in some instances. Whatever 'Allowed Claim' the Plan Administrator negotiates with those securities' holders is just an estimate of the 'Best Effort case' that the Plan Administrator is promising those holders, towards recovering their original value, as part of the BK process.

I don't even want to argue these facts of what's been transpiring in this BK with you anymore because you just throw out nonsense, not supported by any facts and frankly it is a waste of my time...