Replies to post #3948 on Lehman Bros 7.25% Pref''d Series P (fka LEHPQ)

[DJN]

Ezzy... That is Bryan Marshal's original plan. We need to know more about the competing plan

Competing Plan:

Lehman Brothers Holdings Inc. creditors including hedge fund Paulson & Co. are mulling a payout plan that would share an estimated $57.5 billion more equally than the defunct firm’s proposals, according to a person familiar with the matter.

The competing plan may be filed as early as this week, said a second person familiar with the matter. Lehman shares rose as much as 4 percent on the news.


Bryan Marshal's Original Plan:

Under Lehman Chief Executive Officer Bryan Marsal’s original plan filed in March, payouts would range from about 15 cents on the dollar to 44 cents. Senior bondholders would get 17.4 cents, some commercial paper holders would receive 44.2 cents, and the firm’s Lehman Brothers Special Finance unit would pay 24.1 cents. Derivatives creditors of LBSF have included Goldman Sachs Group Inc., Morgan Stanley, Credit Suisse Group AG, Deutsche Bank AG and Bank of America Corp., according to court filings.