Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

>> they will be the holder of allowed claims against itself more than the $31 billion it is currently at.<<

When LBHI buys back claims the claims are cancelled. That is a fact.
You can't have claims against itself.

But let's say in your bizarro they were not cancelled.

If the claims were in fact still valid LBHI would receive distributions. Those distributions would go in to the LBHI estate. They would be used for distributions to creditors. This would be circular and distributions to LBHI would eventually all be redistributed.

BUt the fact is that LBHI holds no claims against LBHI.