Replies to post #96205 on Lehman Brothers Financial SA (LEHNQ)

[Jimzin]

Nice job Swiss!

[Joe Stocks]

Swiss, Yet again you are not reading what is there. You think that because the word 'reorganization' appears at the top of the page, but no where else in the plan that there is a plan for reorganization. Don't you think they would mention reorganization in the plan? Wouldn't think it would be included in the definitions? That is dumb.


>>BUT if you type in "plan of liquidation" those 3 words do not appear in the page together anywhere<<

Try "liquidating trust". 171 times

"Liquidate" 255 times

How can you read the plan and not see that it is a plan to liquidate the estate. How can it be they say this below that they don't mean everything leaving nothing to be reorganized!

(b) If at any time a Liquidating Trustee determines, in reliance upon such professionals as a Liquidating Trustee may retain, that the expense of administering a Liquidating Trust so as to make a final Distribution to Liquidating Trust Beneficiaries is likely to exceed the value of the assets remaining in such Liquidating Trust, such Liquidating Trustee may apply to the Bankruptcy Court for authority to (i) reserve any amount necessary to dissolve such Liquidating Trust, (ii) donate any balance to a charitable organization (A) described in section 501(c)(3) of the IRC, (B) exempt from United States federal income tax under section 501(a) of the IRC, (C) not a “private foundation”, as defined in section 509(a) of the IRC, and (D) that is unrelated to the Debtors, such Liquidating Trust, and any insider of such Liquidating Trustee, and (iii) dissolve such Liquidating Trust.

[dade]

Amen Swizzy

[Joe Stocks]

I mention Solyndra because you brought it up in defense of your reorganization and liquidation argument. You can't pick out things in Solyndra to suit your argument without looking at the Solyndra Bk in whole.

Solyndra is not even close to being like Lehman to use them as an example of a company that liquidated their operating comany, but reorganized the holding company.

[Joe Stocks]

Nols show up on the balance sheet if it appears a company is projected to have income to use them.

Solyndra's NOLs went to the investors.

LBHI "plan" is to liquidate. A plan to liquidate is in the modified plan. There is no plan to reorganize. It has to be in the plan to be so. The trustees have their orders. None of which say anything about reorganization. Even if the assets sold covered all debt with funds left over for equity the trustees would still be charged with liquidating the estate for the benefit of the shareholders just like where LBIE is now.