Lehman Brothers Financial SA (LEHNQ)

[etzetrade]

Basically, seniors (WAMU) were paid in full plus all accumulated interest. TPS were categorized as CTs.

However, those 4 dirty HF have been caught of inside trading. So, the judge decided to punish them. So, TPS and CTs holders were shut up.

If everything had gone through those 4 HFs plan, WMIH should have been owned by 4 HFs. Once judge realized their tricks, the EC has been appointed. Therefore, preferred and common got new shares.

CTs got less money because CTs made the difference of FJR vs coupon rate to seniors. TPS was extremely mad, but could not do anything because of classification.

Overhere, Lehaman does not pay senior in full.If you were seniors, you saw everyone below you might get more than you. What is your response. Mik1's post is the last puzzle to give us all the clear picture.