Specifically, the issuance would be inconsistent with the plan’s nullification of the pre-Effective Date charter in favor of an amended and restated charter which prohibited LBHI from issuing new, non-voting stock to any party other than the plan trust. The Court noted that “The Pre-Effective Date Charter cannot selectively be brought back to life.”
This is what fantastic four and friends don’t understand. The plan is the plan. Must follow it. It is to my understanding that stock can only be distributed only if all cash is distributed. The $60billion j shares will then be issued to the plan trust. I’m guessing there will be an election to receive the shares for your claim (debt for equity swap) since these are non voting shares most creditors may not want them and may seek to reaffirm their debt. That will be the surviving entity if their is one. Now add this with Barclays plan to expand transatlantic banking with U.S Lehman brother operations and financing of a going concern.
Once again, ECAPS aren’t even paid and no one even knows the final judgment yet fantastic four is seeking to be classified in the same class as them to get the same treatment where no one even knows what that treatment is yet.
News 
Market Data 
Discover 
