Replies to post #12825 on Lehman Preferred Series "J" Preferred (f

[mnt_v]

I've been thinking about that question myself. After reading through the disclosure statement, it seems that pretty lofty authority will be shifted to LAMCO to either allow, or disallow, a claim. My thoughts are that maybe this authority will position them to play tough with the bogus notionally valued derivatives claims...

Any thoughts?

[mik1]

Because, there are a lot of money to cover, between Class I and 8. We are at the end.

I would like very much to see some money with my Js, even waiting 5 years. But I really cant believe that all creditors, where there are big guys, will receive a 20%, knowing that A>L. The answer is obvius. A<<L. And they know it.


Probably, with time, Assets will recover price, but if they have to cover a gap between 260B and 40B, it is almost impossible.

[uhlmant]

i would caveat though that if l>a then it appears that shares get canceled. If the day after cancellation a>l we would be SOL in my opinion. We need a>l while shares still exist