Replies to post #15305 on Lehman Preferred Series "J" Preferred (f

[toogoodfella]

I believe nothing was said "Eliminated" It only shows that there will be no distribution of asset to class 5 and/or 3 at this time of distibutions. This is due to the senior priorities as also written on each prospectus of every Trusts and Preferreds. If in case that the higher priorities are all satisfied by the other future recoveries, Then we should see some of the money flowing downwards to the Trusts, then Preferreds.

The bottomline is if there is enough recoverable assset to satisfy all the creditors claim of approximately 100B. At this time, we have approximately 60B recovered. And to remind you that the Trust is about 2B in the very bottom of the 100B.