Replies to post #110360 on Lehman Brothers Financial SA (LEHNQ)

[The Godfather]

Cotton,

I respect everything you bring to the table here but this concept of owing interest on past dividends is a little far fetched in my humble opinion.

Technically, as per the POR, we are being paid our dividends but they are being reallocated to satisfy the senior creditors.

So, after the POR closes, the dividends that is being paid to us will finally start hitting our accounts. No back divvies are owed to us and we will most likely not see a dime of any of the past divvies.

[cottonisking]

US and UK Basis:

"In a trial last year, the handful of distressed debt investors scored a win as the ECAPS claim was found to rank ahead of Lehman Brothers Holdings Inc. (LBHI), but there was an outstanding question around statutory interest on that claim. Statutory interest is a charge a creditor can levy if they have been paid late, and in the UK it is accrued at 8% each year."

https://www.bloomberg.com/news/articles/2023-11-29/deutsche-bank-scores-big-win-on-lehman-brothers-ecaps-debts