Lehman Preferred Series "J" Preferred (fka LEHJQ)

[daktok]

I'll break this down in plain English:

Each holder of an Equity Interest in LBHI shall neither receive nor retain any property or interest in property on account of such Equity Interests;
PE: If you've got shares, you get nothing,

provided, however, that in the event that all Allowed Claims in LBHI Classes 1 through 8 have been satisfied in full in accordance with the Bankruptcy Code and the Plan,PE: until everybody in classes 1-8 have gotten their money (or even a percentage of their money).

each holder of an Equity Interest in LBHI may receive its Pro Rata Equity Share of any remaining assets of LBHI
PE: After classes 1-8 are done getting their money, if you have shares, then you'll get the rest of the leftovers

consistent with such holder’s rights of priority of payment existing immediately prior to the Commencement Date.
PE: according how many and what type of shares you hold.

Total statement: If you've got shares, you get nothing until everybody in classes 1-8 have gotten their money (or even a percentage of their money). After classes 1-8 are done getting their money, if you have shares, then you'll get the rest of the leftovers according how many and what type of shares you hold.