Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

Swiss, I like a GOOD debate. Something I find unavailable in you. You lack reading comprehension skills. A few years ago I had a private conversation with a former poster here about about the prospects of every pathway to recovery mentioned here. Every pathway I explained to him was a dead end mostly by pointing out something in the POR Liquidation Trust. The modified plan is very clear about what happens with Lehman in BK. Total liquidation leaves no room for some recovery.

You keep talking about a debt for equity exchange. I have replied several times that does not work for Lehman as there is no equity that can be exchanged as the plan calls for a total liquidation of all assets (equity).

10.2 Purpose of the Liquidating Trust. Each Liquidating Trust shall be established for the sole purpose of liquidating and distributing the assets of the Debtor contributed to such Liquidating Trust in accordance with Treas. Reg. § 301.7701-4(d), with no objective to continue or engage in the conduct of a trade or business

2Good keeps talking about about the NOLs. It is very clear that there is no pathway for Lehman to have remaining NOLs, and the Lehman says as much in their filings.

Lehman has not been in business for over a decade. Lehman has no employees, and does not conduct any business what so ever that they did pre bk. And look what the plan says in 10.2 "with no objective to continue or engage in the conduct of a trade or business"

There is no debating what will happen with Lehman and what the chances of recovery are for the CTs. The pathway for the demise of Lehman is very clear in black and white. To argue about something that can not happen is futile.

And you keep talking about Lehman issuing shares or not and implying that I say they can and that they cannot. I think you are talking about the ECAP situation. I said I do not follow that closely as it has nothing to do with the CTs. The court said this as to the Wossileks case;

The Trusts hold Subordinated Debt Securities issued by LBHI only, not by any affiliate of LBHI. The Wossileks’ purported investments in the Trusts have nothing to do with LBHI’s affiliates.

The ECAPs had a right to LBHI preferreds shares is my understanding. Does LBHI issue shares to them and then they file a claim to get to a class 10A claim? Or do they just get a class 10A claim directly? I do not know. Nor, do I care, nor should you because they have nothing to do with the CTs.

No, I will not debate with you. It is pointless. You ignore facts.
Move on ,Swiss. See the light!