Lehman Brothers Financial SA (LEHNQ)

[stockmojo9]

Is liquidation done?

It looks like the NOLs will have the following breakdown after they sell claims by the 28th:

49% for Debt holders.
51% for Equity holders.
Of the 51%, 34% for CTs, 11% for Cumulative Preferred & 55% for Non-Cumulative Preferreds.

This can adjust if there is a common payout.

There are no penalties or damages in this model either and the Court clearly approved accommodations for the DIP.

It could also be adjusted if there is a significant contribution from a profitable Overseas Sub that would assume obligations for US Holding Creditors after they fold.

But, why would they do it?

Lastly, why would a Money Center arrange a new Broker-Dealer Agreement with Lehman remains?

Is there something I don't understand?

Have at it.