Replies to post #74001 on Lehman Brothers Financial SA (LEHNQ)

[toogoodfella]

For nine years, We all know that CTs are in parity with the preferred. It's in the prospectus. No need to go UK to learn it.

[stoxjock]

"and payments on its debt securities that rank equal with or junior to the subordinated debentures. See "Certain Terms of the Subordinated Debentures—Option to Defer Interest Payments."

Thanks Cotton for all your DD...

The above statement clearly means CTs have to be redeemed with all accumulated interest before they can pay the UK CTs.

[jimmyt99]

Does not really matter, Cotton, on convincing folks here on the full monty plus coming our way. Many already know that and are in the wait mode. Look at the Trustees and what they do in the coming weeks. Good man you are, but you can't cure stupid - don't try, just laugh at it.

In the meantime, have a few Sinatras before the Boogity Boogity Boogity Let's Go Racing.

Roll tide.