Lehman Preferred Series "J" Preferred (fka LEHJQ)

[toogoodfella]

When Marsal was questioned about the 50B Net receivable.


SPEAKER: Right. Understood. And
9 just regarding intercompany receivables
10 collectively, I believe the most recent
11 schedules for LB does show approximately
12 150 billion of intercompanies and I believe
13 Mr. Marsal mentioned earlier in the
14 presentation there is about a $50 billion
15 number. Can you describe the difference
16 between the 150 and the 50 billion
17 intercompany with respect to LBHI?
18 MR. MARSAL: I think he is going to
19 look to me now.
20 MR. FOX: I think those are two
21 different definitions.
22 MR. MARSAL: The 50 billion that I
23 used was --- in the presentation that was
24 being made in July in London to the various
25 receivers, that's a net number. I think it

Page 50
1 341 Creditors Meeting
2 may be a net number and you may be
3 referencing a gross number.
4 MR. EHRMANN: That's right.