Lehman Brothers Financial SA (LEHNQ)

[jwnoble3]

This is the remainder of the brokerage "customer" claims.

The distinction between a "customer" claim versus a "general" claim is crucial in a situation like the Lehman case, in which Mr. Giddens is winding down the brokerage in accordance with the Securities Investor Protection Act. "Customer" claims are paid 100 cents on the dollar from Mr. Giddens' coffers

We CTs are in the "General" claims

This could move us closer-
Under the deal, Lehman Brothers' holding company will cut its "customer" claim against the brokerage to just $2.3 billion from $19.9 billion and reduce its "general" claim to $14 billion from $22 billion.

We won't know until after 4/16 (later this year):
Although the brokerage business isn't technically part of Lehman's Chapter 11 case, U.S. Bankruptcy Judge James Peck must approve the settlements. A hearing on the settlement with the holding company is set for April 16, while one on the U.K. settlement still isn't set.