This Article confirms that the book valuations of the Lehman Assets on the Commencement Date Balance Sheets were correct - except for about $ 50 - $ 70 Billion of LBHI Assets - which the Bank of America and Barclays estimated as risky Assets with questionable Values.
The FDIC reduced the value of these risky Assets by $ 40 B in its calculations.
The .97 cents on the Dollar is after the $ 40 B in the Asset's values were deducted.
And so to summarize - the FDIC estimated the Value of the LBHI Assets - not including the Subs - at about $ 170 Billion on Commencement Date - Sept 15, 2008 - and yet the Debtors' First Amended Disclosure Statement is stating only about $ 47 Billion in Total Assets for the LBHI Debtor.
There is $ 123 B in LBHI Assets that the Debtors need to account for that neither Barclays or the Bank of America questioned their book value - when they were considering buying Lehman prior to Bankruptcy.
This FDIC article adds 123 B more to the Total LBHI Assets than what the Debtors' are stating.
The $ 123 B is not enough for a payout yet to the CTS and Equity Interest Holders but it certainly brings them a lot closer to the possibility.