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marayatano

07/14/09 10:21 PM

#1344 RE: coach tequila #1342

You have to add the other subordinate that is floating. So it should be more than 1.2 bil.

According to this:

http://www.rediff.com/money/2008/sep/23bcrisis7.htm

"In its bankruptcy filing, Lehman listed total debts of $613 billion, making it the largest ever US bankruptcy with $128 billion in debt securities, including $110.69 billion unsecured debt, $17.6 billion in unsecured, subordinated obligations, the media report said."

So it is approx. $17.6 billion separates Trust and reg preferreds. Of the $17.6 billion, it is unknown how much of it is jr. subordinates.

Senior unsecured debt is approx. $110.69 billion.

Regarding the $613 billion (minus the senior and subs debt), I would not rely on that too much since it will lower in time.

The article is from Sept 2008, but the information was obtained from Lehman's BK petition. So the senior bonds and sub bonds are fixed while the unsecured debt will fluctuate.

What we want to find out is how much will be unsecured claims and priority claims (apart from senior and sub debt). Secured claims are good as gold.

As time goes by we will find out more with Lehman's transparency.