Lehman Brothers Financial SA (LEHNQ)

[littledevils90210]

"The allowed, that is unimpaired, debt will receive an average of 18 cents on the dollar. If 18% of the allowed debt is equal to $65 billion, per LBH filings, then the total unimpaired debt is roughly $360 billion. ($65B/.18)"

What? That did not make sense. Do you mean the total impaired plus unimpaired debt is roughly $360 billion?

The papers states whatever is not on the POR is DISCHARGED. Alvarez told me to go by the POR and BK rules. I went back and reread it about a week ago.

The funny thing is I called Lehman and a person there at first told me they are 100% liquidating therefore, they are not going for a discharge. I am not sure the folks on the phone or staff is in tune with what is going on considering after the delist a few called and got different answers on the delist. And at the time they were still saying CTs were 12. Now a chage of heart.

I have one big issue with folks who keep bringing up pre BK numbers. If Lehman wanted to work with the Pre BK numbers which is what you are using they would not need BK to assit them to put their house in order. IMO, the discharge number will knock down your 360 billion and the new financials will look more reasonable. That is why I keep saaying wait for the new financials to see where we stand. Peck would not let Lehman exit BK if they were not on more solid footing.....go figure..devil