Lehman Brothers Financial SA (LEHNQ)

[stockmojo9]

<<Do you really think this select group of posters here know something others that do distressed debt for living don't?>>

Debtholders are not equity.

So, as per POR, no NOLs for you. No COD.

If you're a debtholder, you'll take a loss on the rest. That is what happens when debtholders quit.

LBHI can wind it down and liquidate all the rest.

There will be an approximate $11B credit that will go to CTs and then the OBS.

The rest of the debt is subject to compromise and you get nothing more.

So, there you have it. It is what you wanted for years, joe.

It is what many CT owners didn't want, preferring a re-structured entity with the business charter, cache, employees and tax roll.

You, joe, have always argued for the liquidation for debtholders to be fully paid before the CTs or preferred.

As Judge Chapman said yesterday, "She doesn't always decide in favor of the debtholders."

So, good luck!

I can't say it any nicer than that. I had always wanted something more reasonable and, instead, I've invested in a workout with some of the most rude attorneys and Estate managers in the business.

They'll probably take this post down, too.

Some on this Board have always wanted to abscond with everything no matter what others efforts are to hold them accountable.

mojo