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Friday, August 03, 2012 5:39:21 PM
CT/Subordaintes: you NEED CT/Subs because it give seniors MORE money if they keep CT/Subs alive until there is NO MORE DISTRIBUTABLE assets/cash. WITHOUT CT/Subs, the seniors do NOT get an extra payment.
Once all of Lehman is liquidated, CT/Subs has served its purpose i.e. REALLOCATION of lower creditor distribution to HIGHER creditors, then senior claim DEFICIENCIES are Discharged as well as anyone lower in the food chain.
imo
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