Replies to post #98108 on Lehman Brothers Financial SA (LEHNQ)

[VivaLasVegas]

Damn Gina.

[SwissCheeseAccount]

Wait mojo are you WU?????


is this the motion that was filed against BNY???

[Jimzin]

The last paragraph in the message from BNYM means the CT guarantee is still valid...
"the Bank of New York Mellon has already taken all necessary steps to ensure that Noteholders will be paid, "if" funds are available to make payments to class 10B members under the Plan and Indenture...
That is all the CT guarantee has ever guaranteed...if funds are available.

and the very last sentence, I believe, simply means the Noteholders can sue to take possession of the Note...but if the Note is worthless, what would that solve. You would ONLY sue if there are funds that could be paid to Class 10B...
They say there are no funds for 10B under the plan. Pray for after the plan. I don't believe CT's can be discharged.

Cheers!

[cottonisking]

Based on your post and letter, LBHI assumed the CTs' 1996 Debentures:

The subordinated debentures will be issued pursuant to the subordinated indenture, dated as of February 1, 1996, as amended and supplemented.

https://www.sec.gov/Archives/edgar/data/806085/000104746905000357/a2149684z424b2.htm

Great work...click on stockmojo9 post 98108 and read his letter from the BNYM.

[SwissCheeseAccount]

"in an apparent effort to obtain a recovery from LBHI on structurally subordinated equity interest and contractually subordinated guarantees"

This means BNYM is saying CT's have a guarantee?

if the guarantee is expunged, that information would have to be brought to BNYM and they would have to take care of it