Replies to post #72857 on Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

"Can you clear something up for me please?" Yes and only with a cut and paste! I have plenty of old posts!

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cottonisking Thursday, 01/26/17 09:36:08 PM
Re: cottonisking post# 71135
Post # of 72872

Why are we here year after year? "potential distributions for the benefit of former stockholders" and LBHI's TRuPS!

Waterfall:

1) LBHI's classes: 10a then 10b then 10c [$15B point with no interest] then 11 then [1]class 12 preferred stock and common stock

[1]Bottom of the waterfall = "It is not currently anticipated that "any former stockholder of LBHI" will receive any distributions as a result of its beneficial interests in the Plan Trust."


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"leaving open and unanswered questions regarding the management of the New
Common Stock (and potential distributions for the benefit of former stockholders) and"



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"On the other hand, if the term of the Plan Trust is not extended, the Plan Trust will
terminate, leaving open and unanswered questions regarding the management of the New
Common Stock (and potential distributions for the benefit of former stockholders) and the
process concerning the selection of LBHI’s Board of Directors. The Chapter 11 Estates would
be at risk of, among other things, losing valuable tax attributes, failing to comply with applicable securities laws, and upending the corporate governance process that has been successful to date
and was instrumental in confirming and effectuating of the Plan."


*** Docket 54616 ***

"27. No parties in interest will be prejudiced by an extension of the term of the
Plan Trust. On the other hand, if the term of the Plan Trust is not extended, the Plan Trust will
terminate, leaving open and unanswered questions regarding the management of the New
Common Stock (and potential distributions for the benefit of former stockholders) and the
process concerning the selection of LBHI’s Board of Directors. The Chapter 11 Estates would
be at risk of, among other things, losing valuable tax attributes, failing to comply with applicable securities laws, and upending the corporate governance process that has been successful to date
and was instrumental in confirming and effectuating of the Plan.