Replies to post #114914 on Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

Yep, ride it out 🐕️s' :

Yes, if the LBHI Plan Administrator makes a stock distribution, it will set a record date beforehand. In the specific case of the LBHI Plan Trust, a distribution to beneficiaries would apply to their beneficial interests in the Plan Trust Stock, not to a publicly traded security.
LBHI Plan Trust distributions
The LBHI Plan Trust was created under the bankruptcy reorganization plan to hold the remaining assets, including Plan Trust Stock, for the benefit of former stockholders. A record date would only be set if two conditions are met:
All higher-priority claims (such as those from creditors) have been fully satisfied.
The Plan Trust receives a distribution of Plan Trust Stock to be passed on to beneficiaries.
The Plan Administrator would publicly announce the record date in advance to inform all beneficiaries. As of March 2025, no distribution was anticipated for former stockholders.
The security a record date would apply to
The record date for a distribution from the LBHI Plan Trust would apply to the beneficial interests in the Plan Trust Stock held by former LBHI stockholders, not🎯 to a publicly-traded stock. These interests have no market value and cannot be traded.
This is different from regular distributions to other creditors, such as senior noteholders,🎯 where a record date is set for their respective securities (like senior notes).
What this means for beneficiaries
If a distribution of Plan Trust Stock ever occurs, the Plan Trust will arrange for distribution to the registered beneficiaries on the record date.
The Plan Administrator maintains the records for these interests based on the🎯 former stockholders of record from the time of the bankruptcy.
Beneficiaries holding their interests through a broker should ensure their contact information is up to date with their brokerage firm.
As per a March 2025 notice, if a distribution were to happen, it would be deposited directly into brokerage accounts or notifications would be sent to registered holders.