Replies to post #10899 on Lehman Preferred Series "J" Preferred (f

[time4achange53]

brikk, in a nutshell, positive or negative? Market is leaning negative.

[Tony Jeletonev]

Is this what the plan holds for CTs?


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4.5 LBHI Class 5 — Subordinated Unsecured Claims against LBHI .



(a) Impairment and Voting . LBHI Class 5 is impaired by the Plan. Each holder of an Allowed Subordinated Unsecured Claim in LBHI Class 5 is deemed to have rejected the Plan and is not entitled to vote to accept or reject the Plan.



(b) Distributions . Holders of Allowed Subordinated Unsecured Claims against LBHI shall not receive any Distributions on account of such Subordinated Unsecured Claims unless and until all holders of Allowed Senior Unsecured Claims are fully satisfied in the Allowed amount of such Senior Unsecured Claims, in which case each holder of an Allowed Subordinated Unsecured Claim shall receive its Pro Rata Share of Available Cash from LBHI.


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Thanks in advance.