BNY Mellon failed to file under the "guarantee" for the CT's but did file for the senior bonds. But did not file a guarantee claim for our CT's. There is the very strong language in the CT's prospectus as having an "unconditional guarantee". The underlying bonds being held in the trust do not have a guarantee by themselves. So was this LBHI prospectus language fraud, and/or was the failure by BNY Mellon to file tortious if they represent one class over another? It seems like a conflict of interest for BNYM to collect money for the senior bond holders and collect settlement monies for the CT's and then hand it over to the senior bond holders doesn't it?
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