Lehman Brothers Financial SA (LEHNQ)

[marayatano]

Basically, it is any distribution to that Class/SubClass, will be taken away and redistributed to another Class which is likely more senior ... hence, that is why I say seniors are paid in full first. I have not read what 6.4 says since I am not really near a computer.

That is why seniors keep subordinated debt intact, to take away their distributions and obtain more recovery than any other non-sub claim (and NOLs).

imo