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Tuesday, August 07, 2012 9:55:29 PM
STOCK CANCELLATION/SENIOR NOTES FAQS:
10) I was a Stockholder prior to the filing, what will happen to my stock?
On the Effective Date, the LBHI common and preferred stock were cancelled and one new share of LBHI common stock was issued to the LBHI Plan Trust which will hold such share for the benefit of the former holders of LBHI common and preferred stock consistent with their former relative priority and economic entitlements. The beneficial interests in the LBHI Plan Trust held by former LBHI stockholders are uncertificated, non-voting, and nontransferable other than by will or by the laws of descent and distribution. The Plan states that in the event that all Allowed Claims in LBHI Classes 1 through 11 have been satisfied in full in accordance with the Bankruptcy Code and the Plan, each holder of an Equity Interest in LBHI may receive its share of any remaining assets of LBHI consistent with all rights and priorities existing immediately prior to the commencement of the Chapter 11 cases. At this time it is not anticipated that any distribution will be made to the LBHI Plan Trust or to any beneficiary of the LBHI Plan Trust.
John
Americans are so enamored of equality, they would rather be equal in slavery than unequal in freedom. -- Alexis de Tocqueville
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