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Re: Joe Stocks post# 89292

Tuesday, 07/07/2020 1:39:13 PM

Tuesday, July 07, 2020 1:39:13 PM

Post# of 111246
Exactly, our CTs are only subordinated to higher ranking debt and certainly not subordinated to equity. The guarantee is not subordinated to any equity class of LHBI or its affiliates. It is ONLY subordinated to all higher ranking debt of LBHI. LBHI is also not allow to receive a distribution from subsidiaries who are paying LBHI for peer ranking or lower subordinated debts. That is my understanding.