Replies to post #2512 on Lehman Preferred Series "J" Preferred (f

[coach tequila]

If you are talking about the court decision in LEHMANS favor in the Metavante decision...that is decision is from last week.

I reported it here and expressed my thoughts that it set an important precedent that counterparties now have to negotiate with LEHMAN. It does not matter that LEHMAN filed Chap 11.

Counterparties have not fully lived terminated their positions according to standard protocol in most cases if they simply do nothing but notify intent to terminate because of the Chap 11 filing.

If counterparties have notified of their intent to terminate but have not revealed the other information required by the Master Agreements in order to complete the termination there is not a complete termination.

Counterparties have taken the position that because of the BK filing that effects a default.

METEVANTE FOUND OUT THAT IS NOT THE CASE! That is why you have seen volume pick up late last week IMO.

The next big case that has had its hearing and is being decided is the LIBRA case. This case is for 600M+! Furthermore, it sets an additional precedent.

The Perfect Storm is heading to you...are you ready?

Enjoy the Ride!

Coach T