Lehman Brothers Financial SA (LEHNQ)

[hestheman]

Joe Stocks...you stated two things in your post that are correct, one is the definition of discharge in bankruptcy and the second one being "I don't understand" etc etc. Now perhaps you are ready to delve deeper into the exciting game of bankruptcy penny stocks! You have posted excerpts of the POR so we know you at least read some of it....so now let me ask you a question. can we agree that the POR actually does state there will be a discharge? (you were wrong by the way, the discharge has not officially occurred). If we can indeed agree that the POR states there will be a discharge....THAT is why I am expecting CTs to survive the bankruptcy. Now...do some more digging online or consult an attorney and you will find that a discharge is not granted in either a chapter 7 or a chapter 11 (full liquidation) in which all or substantially all of the company's assets are being sold. If the company ceases and no longer engages in business they will receive no discharge. In a reorganization....the company shall receive a granted discharge from all remaining debt. Once you verify this information is true....go back and study our prospectus and see the passage that states the guarantee of CT's shall not be discharged (a bankruptcy term) unless paid in full, all principal and interest owed. After you do that....go study assumption and assignment of executory contracts in bankruptcy. The bankruptcy trustee and the debtor choose what contracts to assume, assign to a successor or third party of interest, or reject in bankruptcy. Contract law plays a role in this. Our prospectus agreement, although subordinated to other debt in bankruptcy...has successor obligor guarantees on top of the non discharge guarantee. The bankruptcy trustee will take that into account when making a decision of assumption or assignment. When you do more DD get back at me and maybe we can have an intelligent discussion.