Lehman Brothers Financial SA (LEHNQ)

[hestheman]

I was thinking a while back that Lehman was the first company the default would occur with, and while under bankruptcy you are right, this will be a trend setting event in how TruPS are dealt with (which is why unfortunately, we don't have any cases to compare it with on an exact basis). I will look up TG's post on other financial obligations. From reading the subnote indenture yesterday, it seems as if they have made provisions to pay senior debt (on the one hand) but also pay "Other Financial Obligations" (on the other hand) as if they are two separate issues that they ARE going to pay (like one poster on here not too long ago referred to as a car payment). I am thinking that if this assumption is correct, it will happen after the initial terms of the POR are fullfilled (remaining 19.6B paid off) we will see. Thanks cotton.