Lehman Brothers Financial SA (LEHNQ)

[SwissCheeseAccount]

>>LBHI has never filed a motion or disclosure statement amendment suggesting a creditor-to-equity conversion.
They did with ECAPS that was literally a debt-to-equity conversion proposal by LBHI.

>>Creditors haven’t pushed for it, because liquidation has already returned billions in cash.
Creditors know they can't push for it until all distributions have been made. Creditors know they will waste their time if they tried to push for it during bankruptcy because they know courts will shut it down.
>>The Plan Trust was designed for wind-down, not for a future going concern.
Like every other bankruptcy plan, the plan is designed to MAXIMIZE creditor repayment. repayment doesn't only mean in term's of cash, it includes things like equity also 😉