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Re: Argus63 post# 91250

Wednesday, 10/28/2020 9:54:41 AM

Wednesday, October 28, 2020 9:54:41 AM

Post# of 111531
The link I provided in my previous post is the term sheet.

Details the SPV contributions and the participants

Elliot, King Street, LBHI via LBHI2

The scheme was set up after the plan and POR (2013), allows LBHI to offshore its recovery on the LBIE sub-debt and preferred held by LBHI via LBHI2

King Street and Elliot recover 1st, then LBHI

Plan admin likes to recover on the LBIE notes and pref held by LBHI

IMO, this is breaching the Capital Trusts' contract rights.

After you read the term sheet. Would like to hear other opinions.

Best




My posts are opinion and should not be relied on for your investment decisions.