Lehman Brothers Financial SA (LEHNQ)

[marayatano]

I really do not think you understand, that is not the way it works. Besides, this is Chapter 11, not 7 nor 13. The seniors' rights to payment in full are protected within the liquidating trust and bankruptcy court, even after emergence. "... read up on it ..."

Bottom line: Seniors get paid until it is paid in full of allowed claims until the waterfall stops. The waterfall is at $65 billion. Any excess goes to seniors until they are paid in full, then the next lower tiered creditors in line get paid.

imo

i think we all understood what 95% of creditors settled on the 65 billion means. LOL..and in bk when the company emerges, good luck collecting on the rest. BK law is grand and its sometimes cruel. The other 5% have their right somewhat chopped after BK...read up on it. Now i know why chp 7 and 13 are so powerful for personal stuff...go figure...devil