Lehman Brothers Financial SA (LEHNQ)

[marayatano]

The projection was it will take 3 years to come up with $65 billion to pay higher tier LBHI creditors. The estimate that $65 billion equates to about 21% recovery based on selling assets over the course of 3 years.

Bondholders of the Lehman parent will get less: about 21.1 cents on the dollar.

http://www.thedeal.com/content/restructuring/lehman-brothers-heads-to-december-confirmation.php

So, now, if you figure $65 billion = 21% of high tier creditors, then the remaining is deficient.

So the answer is 21% of face value, but the seniors themselves will likely get a tad more because they get to have subordinate bonds share. The remaining balance to be paid to higher tier creditors if the projected $65 billion is exceeded until it is 100% paid off.

Good night, I am out.

imo