Lehman Brothers Financial SA (LEHNQ)

[hestheman]

Exactly! This was the point I was trying to make a while back....the CT securities can and may be considered a separate entity from the debentures and the SPE. I have not seen the CTs themselves addressed specifically in the plan. Cotton posted some language from one of the dockets that clarified the pay scheme aspect should the subordinated bonds see a recovery, they would in turn pay the securities....but that's just the way the whole setup works. The fact is, like I have said all along...the CTs are an executory contract that must be assumed or rejected. We have seen no statement of rejection. Now we see that the liabilities assumed by Barclays is "highly confidential" and JPM is in the mix somehow. I had not seen that specific info until you posted it. $1.5B is quite an interesting number. I'm getting goosebumps.....great DD Stockbum! Very impressive work, thanks!