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Re: sigsauer post# 1070

Friday, 04/16/2010 12:48:35 PM

Friday, April 16, 2010 12:48:35 PM

Post# of 111141


Correct and that has already been discussed - The Claims for the Capital Trusts are linked to the Subordinate Notes held in the Trust.



The problem is the Subordinated Notes are in Class 5 and Class 3 - the Senior Notes -have to be paid in full first and the disclosure statement is only showing a 17.4 % recovery for Class 3 at the moment.