Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

Read what I said in context to what Cotton had posted and I was replying to.

Lehman said, ""Although there may be questions of English law and usage, it is possible that the English Court would be interested in input from this Court regarding the history and characterization of these Chapter 11 Cases, and that it may become appropriate for this Court to assist the English Court on this issue. The Court May Authorize the Issuance of the Substituted Preferred Stock"

This substitution of preferreds would be new shares to LBHI. Read the posts before and after in this thread. I was simply responding to what was said in court.

Another excerpt; "28. The Preferred Securities Substitution is akin to the allowance of LBHI Class 12 Equity Interests in the aggregate amount of the ECAPS’ notional value. The Plan Administrator already has the authority to allow Class 12 Equity Interests6 and requires Court approval primarily for the ministerial act of issuing the Substituted Preferred Stock—an act in furtherance of the implementation of the Plan but not expressly authorized by it. To prevent creditors from losing LBHI’s bargained-for entitlement to any value of the Partnership Assets, the Court should authorize the issuance of the Substituted Preferred Stock. 6 Under the Order Modifying Certain Existing Claims Orders (ECF No. 29505), “[t]he Plan Administrator is authorized to settle any and all Claims . . . asserted against the Debtors without prior approval of the Court or any other party in interest where . . . the allowed amount of the settled Claim is less than or equal to $200 million[.]” 08-13555-scc Doc 57036 Filed 11/21/17 Entered 11/21/17 18:21:29 Main Document Pg 14 of 19 12 WEIL:\96296832\22\58399.0011 Conclusion 29. For the reasons set forth above, the Plan Administrator requests that the Court enter an order in the form attached hereto as Exhibit A to permit LBHI to issue the Substituted Preferred Stock."

You ask why I wrote that. In context to the adjoining posts in the thread it is clear.
Move on Swiss. This is a nothing burger! This is also back in 2017. Nothing gained by going back in time and splitting hairs.