Lehman Brothers Financial SA (LEHNQ)

[toogoodfella]

RE: Since CTs have dual positions..

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Wrong perception.
CTs is an equity preferred from the trust.
The trust lend the money to LBHI.
CTs only claim is against the trust. The trust pays CTs if LBHI pays the borrowed money by LBHI.

Don’t expect LBHI will pay. LBHI is broke and will try to preserve the new capital to operate but they cannot get away paying interest or else will stay in default.