Lehman Brothers Financial SA (LEHNQ)

[jwnoble3]

We're one of the European subsidiaries due to make a distribution on their prefs?

Here is why I ask...from the LEHKQ prospectus:

During any deferral period, neither Holdings or any of its subsidiaries will be permitted to:

•pay a dividend or make any other payment or distribution on Holdings' capital stock;

•redeem, purchase or make a liquidation payment on any of Holdings' capital stock;

•make an interest, principal or premium payment, or repay, repurchase or redeem, any of Holdings' debt securities that rank equal with or junior to the subordinated debentures; or

•make any guarantee payment with respect to any guarantee by Holdings of debt securities of any of its subsidiaries, if the guarantee ranks equal to or junior to the subordinated debentures.