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Re: nsomniyak post# 9189

Wednesday, 09/02/2009 11:48:52 AM

Wednesday, September 02, 2009 11:48:52 AM

Post# of 9399
Here's some LES #'s from the BK petition date...

http://www.les1031creditorcommittee.com/firstdayhearing.pdf

The funds of approximately 50 of the 450 like-kind exchange customers of LES were
held in segregated accounts (the “Segregated Account Customers”). As of the Petition Date, LES
maintained approximately $138.6 million in segregated accounts with Citibank, N.A. and $75.3
million in segregated accounts with Centennial Bank. These segregated funds equal or exceed
the claims of the Segregated Account Customers. The remaining 400 customers’ funds were held
in commingled accounts (the “Commingled Customers”). As of the Petition Date, LES
maintained the Commingled Customers’ funds in (a) treasury bonds worth approximately $46
million and (b) auction rate securities with a par value of approximately $201.7 million. These
government treasury bonds and auction rate securities are held in one of two brokerage accounts
with SunTrust Robinson Humphrey and Smith Barney-Citigroup. The Commingled Customers
hold claims against LES equal to approximately $191.7 million.



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