Lehman Brothers Financial SA (LEHNQ)

[BREAKER098]

Being “allowed” means the claim is recognized, but:

• Payment is subject to available funds.

• Class 10B sits below all other creditor classes.

• Distributions to Class 10B will only occur after:

• Secured claims

• Administrative/priority claims

• General unsecured claims (Class 4)

• Senior subordinated claims (10A)

…are all paid in full.

As of the 30th distribution in April 2025, the senior classes have not yet received full recovery. So Class 10B—including LEHNQ—is still out of the money.

Go figure…