Lehman Brothers Financial SA (LEHNQ)

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🐎🐎🐎🤏 Ride the CTs' out with Blackstone's Involvement:

Yes, the provided statement about Capital Trust preferred stock treatment in its 2012 reorganization is true as of September 22, 2025.
Here is a breakdown of the key facts:
Bankruptcy treatment: The Capital Trust preferred stock was classified as an unsecured subordinated debt claim (Class 10B) in the company's restructuring process, which was finalized in late 2012 with Blackstone's involvement.
Claim vs. shares: Although the actual shares were canceled, a claim was allowed for the "$25 per share liquidation amount". This means that the right to a payout was derived from the claim, not from the original number of shares owned at the time of the restructuring.
Limited recovery: Some of these claims traded on the Over-the-Counter (OTC) market years after the initial reorganization, but investors were ultimately expected to receive little to no distributions on these claims.