LBHI will not make an offer. It is all or nothing. We will be paid inform of cash and shares of stocks. Class 10A (ECAPs) and Class 12 will not be paid unless we are satisfied in full but because of the guarantee we will be paid in full. The funds for the CTs are safely with JPMorgan. JPMorgan withheld more than $8 Billion of LBHI funds, later after litigation with Court approval, to ensure payments of the Preferred Securities under Guarantee. JPMorgan is one of the underwriter of the CTs and as such is a co-guarantor and also the property trustee. LBHI still has so much illiquid assets, much more to include the derivitives and properties they now owned by subrogation. Not to mention the $58 Billion NOL which were computed as losses of LBHI prior the filing of Bankruptcy in 2008.
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