Lehman Bros 6.5% Pref''d Series "F" (fka LEHFQ)

[RICK C]

cudo's to COACH for DD.-
ADDITIONAL INFO ON COURT DECISION!

Ghost of Lehman hits ABS

http://www.ifre.com/story.asp?storycode=321731

For deals in which Lehman is a swap counterparty, the decision – if not overturned – will provide a huge benefit for Lehman Brothers' creditors.

According to Cleary Gottlieb, Lehman's administrators have estimated that the aggregate value of the termination amounts owed to Lehman under transactions of this sort is more than US $8B, though the administrators may have reached settlements with some counterparties after this estimate was produced.

"If not overturned, this case will have a corresponding adverse effect on the holders of CDO securities and other structured products where a Lehman debtor is the swap counterparty (although it is possible that this result is already fully or partially reflected in the market prices of these securities)," the firm said.

More info at http://www.ifre.com/story.asp?storycode=321731

Coach T