Lehman Preferred Series "J" Preferred (fka LEHJQ)

[coach tequila]

I found this quote from the lead Weil Gotschal & Manges attorney Mr. Harvey Miller. He was speaking to Judge Peck after Mr. Marsal gave his Presentation on the "State of the Estate".

See if you get the same connotation that I did when you
read it.


MR. MILLER: "As you get closer to the deadline, there
seems to be more effort on the part of parties to reach a
coalescing point. I would also note, Your Honor, that there
are more constituencies that seem to be organizing on -- they
don't want to call themselves ad hoc committees, so they have
different nomenclature for their organizations, but we are
getting different groups organizing who want to meet with Mr.
Marsal and his team, and to talk about a plan of reorganization
and how claims would be dealt. So I think there's going to be
a lot more activity of that as we go forward in the future."

Sounds like there are players circling to see how they might participate in coming out of BK. Ost interesting to me is that there are multiple parties interested even at this early stage. Wait until after the upcoming June 30, 2009 balance sheet comes out. If it shows improvement of any kind it could set the spark.

Coach T