Lehman Brothers Financial SA (LEHNQ)

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Continue, Barclays and LBIE (SUCCESSORS) are solvent and they are paying their obligations in cash.

The CTs' are parity with LBIE's preference shares. A HAND FULL OF CTs' HOLDERS HAD TO EDUCATE LBHI ON THE CTs' GUARANTEE IN THIS BANKRUPTCY.

LBHI added the clause below to the CTs' guarantee to clarify their subsidiaries ranking:

"In addition, at all times such obligations will be structurally subordinated to the liabilities and obligations of the Guarantor's subsidiaries."

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" 6.2. Ranking.

This Guarantee will constitute an unsecured obligation of the Guarantor and will rank (i) subordinate and junior in right of payment to all other liabilities of the Guarantor, (ii) on a parity with the most senior preferred or preference stock now or hereafter issued by the Guarantor and with any guarantee now or hereafter entered into by the Guarantor in respect of any preferred securities of any Affiliate of the Guarantor and (iii) senior to the Guarantor's common stock. In addition, at all times such obligations will be structurally subordinated to the liabilities and obligations of the Guarantor's subsidiaries."

https://www.sec.gov/Archives/edgar/data/806085/000104746903008869/a2105775zex-4_05.htm

Note: LBHI entered into the 2005 Board of Directors consent guarantee for the ECAPS and LBHI entered into the August and September 2008 securities guarantee for the Lehman Brothers CTs' that were held by JPMCB/JPMSI. These are hard facts. LBHI should pay the CTs' dividends, via Barclays and/or LBIE, to make the CTs' holders whole ASAP.