Replies to post #77954 on Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

>>In the event that the Plan Administrator determines to issue New Securities, each holder of Allowed Claims or Equity Interests against a Debtor that contributed assets to the entity issuing New Securities shall receive the relevant New Securities as Distributions in accordance with the Plan.<<

Those securities and entities are to help in the facilitation of the liquidation of assets to the benefit of the creditors. That is not surviving the plan if all new securities are distributed in accordance with the plan. There will be no surviving entity that is not to be distributed to the creditors by priority according to the plan of liquidation. Notice that the plan of liquidation does not once mention reorganization. Not once. Do a word search.