Lehman Brothers Financial SA (LEHNQ)

[linda1]

What is my plan of action?


I was composing a letter to Judge James M. Peck to Object to Class 5's distributions being reallocated to Class 3 however the Disclosure Statement more fully explains and supports the entitlement of Class 3's rights to Class 5's distributions until they are paid in full.


The US Bankruptcy Code also supports this and so I don't think my Objection could be sustained.


My new plan of action is to compose a letter to Judge James M. Peck for the Capital Trust Holders that would point out the huge discrepancies between the amounts of A/L in the June 30, 2009 balance sheet for LBHI - and in the balance sheets in the Disclosure Statement.


How did $ 182 billion in liabilities in the June 30, 2009 balance sheet get elevated to over $ 260 billion as outlined in the Disclosure Statement - Classes 1 - 8 ?


And how did $ 159 billion in assets in the June 30, 2009 balance sheet get reduced to $ 44 billion as outlined in the Disclosure Statement - 14.7 % recovery?


Under the June 30, 2009 balance sheet Class 5 had a good chance of seeing some recovery if the NOLs were used for a 5-year carry back tax refund and there were possible litigation awards and assets returned from Barclays.


The Disclosure Statement is not clear and I think that the Capital Trusts as well as the Equity Holders do deserve to vote on a plan that does not clearly and fairly explain what has happened to all of the assets and why the dramatic change in the balance sheet.


I could write a simple draft letter outlining some of the huge discrepancies in the balance sheets and the disclosure statement - however I think that you should write the final letter.


You are a pre-bankruptcy investor and I have only been an investor since last September and you could highlight a lot more discrepancies than I could.


We ( CTs and Equity ) deserve a vote on a Plan and Disclosure Statement that does not even closely reflect the June 30, 2009 balance sheet.