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Re: chaarles post# 2378

Saturday, 04/03/2010 1:22:20 PM

Saturday, April 03, 2010 1:22:20 PM

Post# of 3026
chaarles: Re PM. Hehe

You need to call your broker and ask if they have a bond desk or if it is in a certain part of their website. On Etrade it is under "investing products" tab and then "Bonds" sub-tab.

The notes you are referring to are collateralized notes and is one of the most senior. They will get paid in full. Without looking at the POR, I can tell you they do not fall under Class 3, 4 or 5. They are in a different Class.



Class 5 only subordinated to Class 4 and 5 is generally true (in proximity, there is more to it), but Lehman Holding guaranteed debts other than its own holding company. Note: Class 4 and 5 are also non-collateralized. Just looking at the POR, the guarantees show they rank higher than subordinate claims, that is why you cannot go by the numbers next to the word "Class." Note: No Disclosure statement released yet.

In another case, if I remember correctly, creditors used the guarantee to enabled the creditors to take over (the estate) subsidiary, spin off (or a organized entity) from the BK'ed company. This wiped out subordinate creditors, preferreds and commons shareholders (not saying it will happen here). Don't quote me on this, this is off memory without following the full story.

Have a nice Easter and enjoy the weekend!

Gotta go out, see ya much later!

IMO




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