Lehman Brothers Financial SA (LEHNQ)

[hestheman]

Complete liquidation in a chapter 11 = No discharge. Reorganization = Discharge granted. POR states there will be a discharge. Successor Obligor terms in CTs prospectus....Bankruptcy assumption/assignment means CTs can be reaffirmed while higher debt classes are discharged....despite not having been paid the full amount of their allowed claims. The POR is not satisfied when the full amount of the allowed claim is paid....that is ridiculous. The POR is satisfied after the completion of sale of 365 liquidation assets, in accordance to the plan. The remaining amount of allowed claims are discharged (and perhaps issued new shares in a reorganized company) if the company emerges as a going concern. Simple as that. I've provided links on this topic before....SO FIND IT YOURSELF JOSE! LOL