Lehman Brothers Financial SA (LEHNQ)

[stockmojo9]

toogood,

The claim becomes the buyer's or sponsor's.

The Court's preferred method of handling claims approved in the POR is to buy them down on the market and use the NOLs instead of the COD.

Why shouldn't the Senior Debt Claimholders convert to an equity position rather than a COD filing on their taxes?

Some of their instruments were structured for the Bank's more speculative activities that became increasingly political and risky.

And, that exposure remains the reason why the LBHI Holding Company is defunct without a suitor and subs unable to funnel up cash to the holding company balance sheet.

The subordinated notes may have similar problems or be structured to finance subsidiary activities.

All the equity claims financed the general corporate account.

IMHO, the US Government deserves "ZIP" on this: no jobs, no revenues, NOTHING! They financed the competitors and drove one of the best IBs into the grave.

It should go to an overseas sub or sponsor and the equity claims settled out from 51% of the NOL tax impound account; the Government shouldn't collect a dime of it.

If there are $130B in Claims Subject to Compromise, then that is what the NOL should be and those claims should have appropriate ratios with the common interest in a new issue once the equity is cashed out.

Am I wrong?

When is this going to be over?

It's outrageous!