Lehman Brothers Financial SA (LEHNQ)

[mellowbird]

those three wonderful words again…
PLAN OF REORGANIZATION!

I haven't been on here for 5 or 6 years, just stopped back to see if folks were still holding and hoping. Why are the words "Plan of Reorganization" wonderful? I looked them up here and I don't see much to hang one's hat on:

https://www.thebankruptcysite.org/resources/what-is-a-plan-reorganization-chapter-11-bankruptcy.htm

It's a required document in Chapter 11 describing how debts and assets are to be managed for the benefit of the creditors. It doesn't have to mean reorganizing the business as a going concern. I read through the POR years ago and it doesn't talk about that. It only talks about liquidation.

This summary paragraph from the link above pretty much says it all:

Chapter 11 bankruptcy can be a good option for debtors who want to reorganize their debt to keep their assets. A key part of any Chapter 11 case is the debtor's plan of reorganization. The plan of reorganization outlines how the debtor will pay back creditors over time. In order to move forward with the plan of reorganization, the creditors must accept it and the court must confirm it.