Replies to post #5794 on Lehman Brothers Financial SA (LEHNQ)

[linda1]

Exactly - there should have been expert witnesses to explain the DS to Judge Peck if he did not understand or had questions.


This is a weird bankruptcy and hard to logically follow at times. How is it that $ 450 B in Claims were allowed to vote and yet the Debtors state only $ 322 B or $ 370 B in Claims will be allowed Claims?



Nov. 29 (Bloomberg) -- Lehman Brothers Holdings Inc. won support for its latest payout plan from

more than 150 creditors holding about $450 billion in claims, moving it closer to paying some of its

debts, the defunct firm said.


Lehman, which filed the biggest bankruptcy in U.S. history in September 2008, had said it can

probably get a judge’s approval for a $65 billion liquidation plan next month to pay an estimated

$370 billion in final claims, with the first distributions starting early next year. The company, whose

creditors range from JPMorgan Chase & Co. to the New York Giants and individual bondholders,

gave its vote count in court filings today after a Nov. 4 voting deadline.



http://www.businessweek.com/news/2011-11-30/lehman-liquidation-plan-backed-by-450-billion-in-claims.html

[phong67]

Money is the root of all the evil. So you can bet corruption and immorality will follow big money.