Replies to post #2372 on Lehman Brothers Holdings Capital Trust III (LEHKQ)

[marayatano]

Like I said:

"All bk follow a general hierarchy. You need to know this before you look at a POR and try to interpret it. <--- When you are able to understand this, then EVERYTHING will become CLEAR as day to you."

"A fundamental goal of the plan is to first deal with third party creditor claims of all estates and then deal with claims filed by affiliates," Suckow said.

http://www.reuters.com/article/idUSTRE62F5RH20100316

LBHI Classes 7A through 7R – Third-Party Guarantee Claims against LBHI.


Distributions. Each holder of a Permitted Third-Party Guarantee Claim in
LBHI Classes 7A through 7R shall receive its Pro Rata Share of Available Cash from LBHI;
provided, however, that in no event shall a holder of an Allowed Third-Party Guarantee Claim
be entitled to a total recovery on such Allowed Third-Party Guarantee Claim and Primary
Claim of more than 100% of the Allowed amount of such Primary Claim.

LBHI Class 5 – Subordinated Unsecured Claims against LBHI

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.

Class 7 before Class 5, weather it is a penny or paid in full.

When you can understand the FIRST quote, then EVERYTHING WILL BE AS CLEAR AS DAY.

Anyhow, playtime is over. I have get back to work. Closing early today.

Have a nice Easter.



imo