Lehman Brothers Financial SA (LEHNQ)

[etzetrade]

From my reading in local HK newspaper, the recovery is from 70-96.5%. Institutional investors get 70%, and individual investors based on their individual status in terms of age, wealth, etc could get upto 96.5%. The difference between 70 and 96.5 is picked up by local banks and sellers of Lehman's minibond.

IMHO, I think the settlement rate is 70%. Local bankers' actions was not voluntary because the HK government had to meet with very angry protestors.