Can anyone correct me if I am reading this wrong, but are the C/Ts class 5 being transferred to Class 3 "Senior Unsecured Debt" with an estimated recovery of 17.4% par.
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RECOVERY OF CLAIMS AND EQUITY INTERESTS UNDER THE PLAN
Lehman Brothers Holdings Inc. (“LBHI”)
Class Type of Claim or
Equity Interest Treatment of Allowed Claims Under the Plan Estimated
Recovery
class 1 Priority Non-Tax
Claims against LBHI Payment in full, in Cash.
Claims in Class 1 shall not receive post petition interest. 100% Impaired, Entitled
to Vote
class 2 Secured Claims against
LBHI At the option of LBHI: (i) payment in Cash in an amount equal
to the Allowed amount of such Secured Claim on the later of
the Effective Date and the date such Secured Claim becomes an
Allowed Secured Claim; (ii) the sale or disposition proceeds of
the Collateral securing such Allowed Secured Claim to the
extent of the value of the Collateral securing such Allowed
Secured Claim; (iii) surrender to the holder of such Allowed
Secured Claim of the Collateral securing such Allowed Secured
Claim; or (iv) such treatment that leaves unaltered the legal,
equitable, and contractual rights to which the holder of the
Allowed Secured Claim is entitled. 100% Impaired, Entitled
to Vote
class 3 Senior Unsecured
Claims against LBHI Payment in Cash in the amount of (i) its Pro Rata Share of
Available Cash from LBHI, and (ii) its Pro Rata Senior
Unsecured Claim Share of Reallocated Distributions. 17.4%
Impaired, Entitled
to Vote
class 4 General Unsecured
Claims against LBHI Payment in Cash of its Pro Rata Share of Available Cash from
LBHI. 14.7%
Impaired, Entitled
to Vote
class 5 Subordinated
Unsecured Claims
against LBHI No Distribution (because such Distributions are automatically
reallocated to Senior Unsecured Claims in accordance with the
underlying agreements). 0%
Impaired, Not
Entitled to Vote,
Deemed to Reject
