If you've been paying attention, which clearly you haven't, I have NEVER encouraged anyone to sell. Check the transcript. In fact, I have done the opposite. I have encouraged everyone to hold - why sell at this point? You're 100% correct that the shares do not reflect any value.
Believe it or not - I am not a troll. The information I have posted is accurate - and if it was found to be incorrect - I have admitted that. All that to say, why do I actually post here? Well, again, if you've been paying attention - I've communicated that several times. I was a holder of the CT's back in 2021. I sold. I came back. It was a lot lower. I looked into why and asked questions. Did a lot more due diligence. The due diligence I collected justified the shares not reflecting any value. I engaged the board and here we are. Anyways, I do have a comment to provide that's relevant to your CT opinion. I have a different opinion. Go figure...
Compound interest in bankruptcy is rare, unless explicitly included in the claim class treatment. The POR only requires payment in full on allowed claims, and post-petition interest is subject to court approval, class priority, and estate surplus. So again, if you actually understand what that means, you should not get your hopes up. HOPE does not equal EQUITY as I have said several times recently.
1. Is there enough value in the estate?
The LBHI estate has distributed over $129 billion since 2012.
As of the most recent reports, there's still billions in reserved value, pending litigation outcomes, tax assets, and real estate recoveries.
However, the amount needed to reach Class 10B is enormous — likely north of $15–20 billion beyond Class 9 + 10A + interest.
2. Will the court allow full post-petition interest on all senior classes?
This is the single biggest variable.
If the court allows contractual or default interest on all allowed claims (as some creditors demand), the residual value may be entirely consumed before reaching subordinated classes.
If post-petition interest is capped or settled below par, that opens up a narrow window for 10A and possibly 10B to receive something.
3. Is there a reclassification or legal pivot?
If some LEHNQ series are reclassified from Class 10B to Class 4 (general unsecured), that would radically improve the odds.
Some holders have claimed these were misclassified originally, citing prospectus language and capital trust structures.
However, as of today, they remain Class 10B under the confirmed POR.
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