Replies to post #111515 on Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

All guarantees and agreements contained in this Trust Securities Guarantee shall bind the successors, assigns, receivers, trustees and representatives of the ...

The End

11. SUCCESSORS
11.1 GP1 shall not at any time assign, transfer or dispose of its interest in the PLC Sub-Notes
without the prior written consent of the Parties.
11.2 LBHI shall not assign, transfer or dispose of its interest in the PLC Sub-Debt:
(a) on or before 15 December 2024, in any circumstances; and
👉️(b) on and from 16 December 2024, unless:
(i) the assignee or transferee of LBHI’s interest agrees to be bound by the
terms of this Agreement; and
(ii) each of GP1 and DB (in the case of DB, only if it then holds 10% or more
of the ECAPS in issue) have consented to such assignment or transfer,
such consent not to be unreasonably withheld or delayed. 👈️LBHI, GP1 and
DB each agree that it shall not be reasonable to withhold or delay consent
if the proposed transfer, assignment or disposal by LBHI of the PLC Sub-
Debt is for value, save for if there is a genuine demonstrable risk that the
assignment or transfer could undermine this Agreement or that the
proposed assignee or transferee intends to breach, undermine or take
action inconsistent with this Agreement.
11.3 DB shall not assign, transfer or dispose of its interest in the ECAPS, including the ECAPS
Deeds of Guarantee, unless the relevant assignee or transferee has agreed to be bound
by the terms of this Agreement as if it were DB.
11.4 If at any time after the Effective Date DB acquires

[toogoodfella]

RE: Is this why you purchased lower priority J

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I bought large amount of J’s and CTs as well. But I do not expect to be paid in the distributions. I’ve been saying for fifteen years now that the hope is on the NOL.
NOL will secure J’s because NOL is owned by equities. This scenario is different from other bankruptcies that usually wipe out all equities. NOL is the reason to continue as a going concern. Possible fresh capital is coming from participating creditors acquisition of LBHI because they will not like the remaining 130B unpaid debt to be wasted. Those creditors are also the existing affiliates of LBHI that holds the majority of all claims.