Lehman Brothers Financial SA (LEHNQ)

[goodietime]

"Distributions are a repayment of debt."

If these distributions are $$ that 'should be' going to CT's, but are taken for higher classes, does that mean the CT's ARE in BK?
I thought the CT's were NOT in BK, so why would the BK have any say as to where CT $$ went?

WHY would a BK proceeding be able to TAKE $$ belonging to a security that is not in BK?

Can you clear this up for me?
Thank you.