Lehman Brothers Financial SA (LEHNQ)

[SwissCheeseAccount]

>>A 130B unpaid debt is in fact too big to convert into equity stock.

It would be too big to convert if it were only being converted into one company.

A lot of the LBHI debt is LBT debt, and when LBT does there debt for equity swap, the debt will be taken off LBHI balance sheets but the equity will be in an entirely new LBT company. The rest of the LBHI debt will then be converted to equity to holders of new LBHI/spinoff etc.

Jmo