Lehman Bros. 5.67 D Series Preferred ( fka LEHDQ)

[coach tequila]

This article illustrates the overstated claim amounts that Mr. Marsal and the Lehman's are fighting...

http://www.benzinga.com/markets/company-news/85237/lehman-lehmq-all-set-to-battle-against-unwarranted-claims

Lehman (LEHMQ) All Set To Battle Against Unwarranted Claims

LEHMQ), the erstwhile financial giant, has a tougher battle to fight ahead. The Company faces more than 64,000 in claims from creditors with a face value of more than $820 billion.

Bryan Marsal, the CEO of the company, feels that the majority of the claims filed are way ahead of the actual damages incurred by the claimants. Marsal believes that they need to bring the culprits, who are trying to take advantage of the sensitive situation, to justice.

By doing this, he feels that he can set an example for other perpetrators. In the week before Lehman filed for bankruptcy it was owed $2.3bn by the counterparties to derivatives trades. Three weeks later, the banks claimed Lehman owed them $25bn plus guaranteed claims of $25bn. As per Marsal, all these claims are insanely hiked with no factual backing.

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