Joe let me tell you this. This is from me to you. I go on this site, I type in "Lehman" in the "search ihub" bar. I see a post from 37 minutes ago. So I clicked on the "LEHNQ" link. I see LEHNQ is green today with a quantity of 400 traded. All I said to myself before scrolling down was "I better not see joe posting" and sure enough here you are. Once I saw 400 shares were traded something told me you would be posting here. But anyways
Ok my bad "debt for equity" thank you for correcting me, dont want to mislead anyone. A poster here got upset because I copied and pasted an article that included chapter 7 and he didnt take it too kindly.
"What do you mean by shares that float on the market" I mean shares that arent owned by anyone. It was just a question and doesnt really mean much.
"Why would anyone re issue sub debt" because let's say lehman did restructure (being hypothetical) CT'S being NCD cant get any equity. So they would have to re-issue as debt or buy back. That is the rule when it comes to NCD (that's what I have read) you are right the bk does allow them to cancel it but from what I have read about debt to equity swaps is when the debt is discharged and cancelled that is when it can be converted into equity.
"Nols can not be marketed" never said the nols will convert debt into equity. But for a debt for equity swap to occur debt is cancelled and written off and then it can be converted into equity. And according to the plan that is what the NOLS will do, discharge and cancel debt.
"Keep in mind that the CTs also do not have any assets. They have no equity. They have nothing to bring to the table. All they own is a class 10b claim that will receive zero distributions." Okay you are correct. Regardless it's still debt
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