Well they have already cancelled common shares, so there is technically no equity holders. Now only beneficiaries as former shareholders. So I really don't know what is going to happen. My sense is that CTs will be discharged when higher classes are satisfied in full. That's what the POR states clearly.
The liquidating trust could be closed and discharged as well...will just have to see how things play out.
There is no guarantee of payment for CT's. Only a guarantee Of payment if the trust is funded. It's not funded and IMHO I doubt it ever will be. Why would LBHI fund the CTs trust? They went bankrupt. They get to start over. Equity (now beneficiaries) were preserved for NOL purposes. CT prospectus states they are on par with the most preferred equity...there is NO equity. Equity was cancelled. CTs will likely be discharged. Why are they trading? Hell if I know.
I agree...People should look really close.. look how you are tossed under the bus...Notice when they want to sell this stuff...Its all Hey come get some...Best deal on the block..For a small investment you get the shaft.....We get your gold mine..The entire stock market is noting but a big scam..Sure people make money, but none the less...A scam...from 401k's where every week..They take peoples hard earned money from their pay checks...Tell them..this Lehman Bros - Cap. Trust VI - Pref''''d Series "N is in your portflio and in the end...It is worth...A big fat zero as you are tossed under the buss
Market Data 
Markets 
AI
