Replies to post #4974 on Lehman Brothers Financial SA (LEHNQ)

[linda1]

This is big news since those Claims by Wilmington Trust are against the LBHI Debtor - which should mean that the Allowed Claims - in Class 3 - will be reduced by about $ 25 B against the LBHI Debtor.


And which will directly make the CTS closer by $ 25 B to a recovery.

[Vincentius]

this is great news, and should really help. hopefully we will see an updated balance sheet soon.

[toogoodfella]

With this reductions in claim plus the previous 15.9B from BOA,Canary Wharf and US Bank Nat. Association, Total= 40.9B.

272.9B - 40B = 232B
March Asset = 252.8
Equity = 20B

To those religious people there must pray now because if these are all true..We are all rich people. I myself was expecting a large recovery but now having some disbelief.

[linda1]

I was suspicious - when I read Wilmington Trust's Objection to the DS - that the value of Senior Notes as stated on the Debtors' Master List of Securities were embellished by the Debtors.


Read the following excerpt from Wilmington Trust - DOCKET # 19149 -



5. As successor Indenture Trustee under the Senior Indenture, Wilmington

Trust is a fiduciary for the holders of one of the largest unsecured claims against the LBHI estate.

On September 2, 2009, Wilmington Trust filed a proof of claim (the “WTC Global Proof of

Claim”) (Claim No. 10082) on behalf of itself and the holders of the securities issued under the

Senior Indenture (the “Noteholders”), in the range of $49,214,955,480.71 (the total outstanding

amount of securities issued under the Senior Indenture, based on information provided by the

Predecessor Trustee) to $73,162,259,495.49 (the total outstanding amount provided on the

Debtors’ Master List of Securities).



NOTICE HOW THE PREDECESSOR TRUSTEE VALUED THE SENIOR NOTES AT ABOUT $ 49,214,955,480.71 - WHILE THE DEBTORS' MASTER LIST OF SECURITIES VALUED THE SENIOR NOTES AT ABOUT $ 73,162,259,495.49.


WHAT A SWITCH - THE DEBTORS' VALUE WAS ABOUT $ 24 B HIGHER THAN THE TRUSTEE'S VALUE.