Lehman Brothers Holdings Inc. (fka LEHCQ)

[MARKETEDGE]

its assets will be sold and the proceeds will go first to lenders and bondholders. If there's anything left after paying them off, it goes to the preferred shareholders. Finally, the common shareholders get the leftovers of the preferred shareholders.


http://www.bloggingstocks.com/2008/09/15/lehman-bankruptcy-to-wipe-out-common-gut-preferred-and-bonds/