Replies to post #95658 on Lehman Brothers Financial SA (LEHNQ)

[SwissCheeseAccount]

If that is the case then they are effectively cancelled if they don't have rights to distributions. They are claims in name only, and more than likely waiting till the end to be cancelled.

Link supporting this please

You say "equity/capital/stock". In what? The company is basically no longer and everything will be gone. equity/capital/stock in nothing, is still nothing.

Shares in a entity. Shares were already attempted to be issued, https://www.aciclaw.org/news/2019/mid-atlantic-update-in-re-lehman-brothers-holdings-inc/

15.2 Issuance of New Securities. In the discretion of the Plan Administrator, each Debtor or Debtor Controlled-Entity (a) may form and transfer certain assets of the Debtors and/or Debtor Controlled Entities to new (or utilize existing) entities, including, without limitation, one or more separately managed partnerships, REITs or other investment vehicles, to hold certain real estate or other assets of the Debtors and/or Debtor-Controlled Entities and, (b) may, in connection therewith, issue New Securities for Distribution under the Plan. 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. The New Securities shall be valued as of the date of the issuance and the holders of Allowed Claims or Equity Interests receiving such New Securities shall be deemed satisfied to the extent of the value of the New Securities.

An attempt of issuing new securities falls under 15.2 which would imply a new or existing entity would have been created or utilized in order to satisfy the creditors.

1.107 New Securities means the securities that may be distributed by a Debtor or
Debtor-Controlled Entity after the Effective Date to the holders of Allowed Claims against or Equity Interests in such Debtor representing an interest in an existing or newly formed entity of a Debtor or Debtor-Controlled Entity pursuant to and in a manner consistent with Section 15.2 of the Plan.

Also see: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166086493

Why else does Barclays fight so hard so Lehman name is not used? Clues everywhere.