Lehman Brothers Financial SA (LEHNQ)

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Benefits former shareholders: The Plan Trust holds the new LBHI stock for the benefit of former stockholders, including the capital trust preferred securities holders.
Receives and distributes proceeds: The Plan Trust is designed to receive and distribute any proceeds from its stock, which includes any post-discharge payments, to the beneficiaries.
Why Class 10B would not receive the payment
Class 10B claims were discharged: The claims represented by Class 10B, derived from the subordinated debentures backing the capital trust preferred securities, were handled under the terms of the bankruptcy plan.
Claims were reallocated: The specific language of the plan reallocated these claims to senior creditors and the Plan Trust. Once the plan became effective and the debt was discharged, the claims were legally settled.
Discharge prohibits collection: A bankruptcy discharge permanently releases the debtor from personal liability for discharged debts and prohibits creditors from pursuing any further collection action. A post-discharge payment from a third party like JPMCB cannot retroactively benefit a class of creditors whose claims were already settled and discharged.