Lehman Brothers Financial SA (LEHNQ)

[penny4dollars]

I think Mr. Arena response email is an insight to the Lehman mayan calender

It is my understanding the most LBHI securities were cancelled as of the Effective Date of the Bankruptcy and exchanged for escrow positions for the purposes of facilitating distributions. Some of these escrow positions are transferrable. Most creditors are not expected to received a full recovery under the plan (please see the estimated recoveries from the Disclosure Statement for LBHI classes attached) and LBHI class 10A, 10B, 10C, and 12 common and preferred securities are not expected to receive a distribution due to the fact that more senior creditors are not expected to be paid in full. The procedures for distribution have been put in place for these securities even though they are not expected to receive a recovery because although it is highly unlikely, there is a theoretical possibility of a distribution. I also understand that the new Lehman entity is not expected to continue after the liquidation and distribution process is complete. Once completed the escrow positions are expected to be cancelled
Thanks,

Joe

Joe Arena
Case Manager
Epiq Systems
Bankruptcy Solutions
Phone: [phone]