Lehman Brothers Financial SA (LEHNQ)

[stoxjock]

That Dec 15th 2024 Date is not really relevant for us, as regard to the "X" Interim Distribution. I highlighted that snippet as it is specifying about LBHI's Share of the "X" Distribution, as well as Future distributions -The Dec 15th, 2024, comes into play, in this context ie., the Distributions for "Tier Y" & "Tier Z" recoveries, the agreements for which, is still under negotiation between the "Parties". The Court obviously arrived at the December 15th, 2024 date, after conferring privately with the parties, in that it felt that Dec.15th, 2024 date would provide 'ample enough' time for the parties to iron out the future agreements for Distribution of "Tier Y' & 'Tier Z'.

But the important factor highlighted in the Court order is "LBHI cannot assign, transfer or dispose' of the PLC Debt", which is its "share" (which in turn, LBHI told before the Court belongs to the 'Relevant Subordinated debt-holders of LBHI' , ie., US CT holders) unless the "assignee" ie, US CT holder agrees to it.