Lehman Brothers Financial SA (LEHNQ)

[mik1]

It does not matter because the CTs are covered by the LBHI subordinate guarantee.

I don´t want to start an old discussion again, but it does matter, because of the subordinate guarantee is an unsecured claim, like it was on LBIE. So, as you mentioned in a post before, the POR clearly says how to treat allowed clams under the POR.

(“[t]he confirmation of a plan [of reorganization] . . . (A) discharges the debtor from any debt that arose before the date of such confirmation . . . whether or not [ ] a proof of claim based on such debt is filed or deemed filed . . . .”)."

The debt side, Class 10b under the POR, should be discharged. Can the equity side keep its substance without its related debt? I think they can´t, and it was told to me by a an expert lawyer on Trust securities.

The quoting of Trust securities was a MM´s game. It should be clear after all the speculation in relation with CTs being redeemed.Still waiting for LEHNQ.