Lehman Brothers Financial SA (LEHNQ)

[SwissCheeseAccount]

DJN did you ever get in contact with them again?

I'm not entirely sure how the BNY trustee works, but is it if the trustee gets money, does that money then get distributed to those with the highest claim in the trust? or is distributed specifically without any order?

I'm asking because BNY is listed as having an interest in the LBI trust.

https://dm.epiq11.com/case/lehmantrustee/dockets


Doc 15374

BANK OF NEW YORK MELLON, THE ATTN: PIERRE BOUTROS, VICE PRESIDENT 101 BARCLAY, 8E NEW YORK NY 10826

I looked up this Pierre guy and came across his LinkedIn:

https://www.linkedin.com/in/pierre-boutros-83843432/

his occupation: Corporate Trust, Senior Business Group Manager at BNY Mellon

https://en.wikipedia.org/wiki/Corporate_trust


I am now wondering how the fund is set up and if It's senior claims first or specific security. since it is only one claim I'm not sure if It's just one security in particular or all of them of which BNY is the trustee. then if It's all of them of which BNY is the trustee, I'm wondering if the bankruptcy rules apply where the more senior claims have to be satisfied in full first. Because it is to my understanding that CT's ARE the most senior preferred security. I'm not sure on how the distribution to BNY will work and who that money will go too. I will have to do some emailing and digging.