InvestorsHub Logo
Followers 9
Posts 1656
Boards Moderated 0
Alias Born 03/23/2010

Re: linda1 post# 4023

Thursday, 07/14/2011 11:46:26 AM

Thursday, July 14, 2011 11:46:26 AM

Post# of 111251
We might look into it from optimistical side. In order to maximize and preserve NOLs, shareholders have to maintain at 51% of Lamco. In other words, our value is 53B x 35% x 30% x 51% = $2.84B. If the above is true, we will have 23.6% recovery (total CTs = $12B).

Do you recall the coversation you had with NY Mellon the reason not to catergorize CTs under "guaranteed". If my memory serve right, the answer is "CTs will become subordinated notes". If so, then we lose all our privilege in Lamco. Also, we are under different sub-category as comparing to subordinated bonds.

Appreciate your comments. TIA