Lehman Brothers Financial SA (LEHNQ)

[stockmojo9]

In the POR, the NOLs listed are $55B & there was a letter to the IRS regarding the preference of buying down debt as opposed to COD.

Maybe it could grow if more Liabilities Subject to Compromise are not left for COD.

So, this way the Debtors get $5.6595B to settle with unless the NOL number is approved by the Courts.

Ran a case for Common at 3% which changed the other percentages to 34%, 10% and 53%.

It would also cost me $11k personally but so be it.

Other than the cumulative and non-cumulative covenants, this also assumes each Preferred is of equal priority which may not be the case.

Who knows?