Replies to post #16082 on Lehman Preferred Series "J" Preferred (f

[linda1]

The Disclosure Statement and Plan have to be approved by the Creditors first and that could take a long time if the Discovery Process is extended.


Read what the FDIC states -



" In large, complex bankruptcy cases such as Lehman, a

creditor may not receive any payment on his claim for a

considerable period of time following the commence-

ment of the bankruptcy case. One reason for this is

that it often takes a great deal of time to establish both

the size of the pool of assets available for general unse-

cured creditors and the legitimate amounts of the

claims held by such creditors. Litigation is typically

needed to establish both of these numbers, which can

require years of discovery followed by trial, then more

years of appeals and remands. "




http://www.fdic.gov/bank/analytical/quarterly/2011_vol5_2/lehman.pdf