Lehman Preferred Series "J" Preferred (fka LEHJQ)

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Lehman Brothers Might Put All Creditors in Same Payment Pool
March 15, 2010, 6:56 PM EDT

By Linda Sandler
March 15 (Bloomberg) -- Lehman Brothers Holdings Inc., which filed an initial plan of reorganization today, said it might resort to a pooling of assets that would diminish returns for lenders with strong claims and benefit others with weaker claims, if creditors don’t agree to its proposals.
More than $830 billion in claims have been filed against Lehman, which has said many of them are duplicates. Under the proposed reorganization plan, creditors of Lehman units guaranteed by the parent won’t be able to seek more money than they are owed by putting in duplicate claims against the parent, said John Suckow, Lehman’s president, in a phone interview today.


http://www.businessweek.com/news/2010-03-15/lehman-brothers-might-put-all-creditors-in-same-payment-pool.html