Lehman Brothers may be the first company, still in the process of paying off its BK plan, to have its TRUPS go into default after 20 quarters of deferred dividends. If so, this will be a trend setting case on how TRUPS in default are treated in future BK cases.
My recent thoughts on TRUPS: When the POR class 10B reallocation reaches 20% of TRUPS face value ($1.2B) it would be at $240 million for Senior class 3,4A,4B,5. The TRUPS deferred dividends will be at $500 million at 20 quarters. A 2:1 payout. This will be some decision for Matthew Cantor, EVP?
I am waiting on big news.
HESTHEMAN: I recently posted data on other financial obligations. Toogoodfella, also posted a link within the past 8 days on other financial obligations within the POR.
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