Replies to post #45245 on Lehman Brothers Financial SA (LEHNQ)

[JERSEYHAWG]

See you at the bank window.
Keep paying, or start paying.

Yo hextheman, looking good.

[toogoodfella]

means the agreed upon/estimated percentage of claim per the POR.
++++++++++++++++++

This is the problem. He concluded (because not in the POR) that the estimated distributable asset of 65B is the agreed amount for the creditors to be satisfied in full. While, He did not payl
O attention on how the asset shall be distributed according to the POR.

The obvious point to see here is that the 65B is presented as distributable asset while on the other hand, the "available cash" is presented as all asset.

[rlinterests]

Hestheman, thanks for your reply.

The point I was trying to make seems to have gotten lost.

IMO, the definition of "satisfied in full" as you and others have stated is,at this point in time, in the best interests of Class 3. This point is not just about us,10B.

Come September a distribution will be made. Let's say $8B for example purposes only.

The "paid in full" crowd would argue we, Classes 3-9 (Just one big happy family), get some money from this distribution because we have not been "paid in full".

So, let's use some simple math, maybe beyond 2nd grade, to figure this out.
Seven(7) Classes (3,4,5,6,7,8,9). $8B. $8B divided by 7 equals about $1.14B per Class. Each and every class.

Now, I tend to think, could be wrong, it will be Class 3 who will be arguing that all other Classes have been "satisfied in full".

Sure, some moneys may go (be paid) to subordinate debt for their contributions. But, the lions share of the pie (and future distributions) will go to Class 3.

Example. Contributing Classes get $2B, could be $4B, but let's say $2B.

$9B -$2B equals $7B for Class 3.

$7B or $1.14B?

I tend to think we have a powerful ally here.

Oh, and class 3 (IMO) has a big voice on the Unsecured Creditors Committee.

[rlinterests]

3 and 7 continue to receive distribution with the provision that those unsecured creditors ( for example, 10B/CTs) that contributed to the reallocation now begin to receive distribution.

Got to love this line.