Lehman Brothers Financial SA (LEHNQ)

[hestheman]

Sure it makes sense. First off, secure creditors are being paid in full...as in 100 percent on the dollar. Senior unsecured debt agreed to some .18-20 on the dollar. Lehman is liquidating assets to pay the amount of $65B (or less) If Lehman should receive more from the assets they are liquidating to pay the $65B.....that money will be extra recovery for those senior unsecured creditors. The $35B more/less that will be left over is not a part of the distributable asset. That money will likely be value in the new company.....The RESIDUAL amount left for reorganization :) The seniors are not really getting the shaft, alot of that debt was bought for pennies on the dollar and they are probably making a profit. Some of those creditors may receive a stake in Archstone or other stock issues as may we. One thing I am almost certain of is that we will not be discharged/cancelled.