Replies to post #84311 on Lehman Brothers Financial SA (LEHNQ)

[stoxjock]

"If they bought before Lehman exited they bought the bonds themselves. After Lehman exited BK they would have bought claims"

Read the above underlined sentence of yours again. You are Exactly making my point.

IF, as you say, they bought "Claims" if they bought after Lehman exited BK, according to your argument, they should ONLY be getting the initially agreed to "Allowed % Recovery Amount" proposed in the POR... BUT these Hedge Funds who 'bought Claims' for 'pennies on the Dollar' made whole FV of that Underlying Bonds and in many cases even exceeded the FV of the Bonds, with interest etc. added in...So the "Claim" that was set by the POR/Plan Administrator IN FACT DID NOT IN ANY WAY "ABROGATE" the Original Bond Value underlying that Claim, as you were claiming (Pun intended).