Hi Hestheman,
thanks again for all your posts. Please tell me how a potential newly formed LEH company could or would use the "preferred shares" as the 51% threshold as equity. How does that happen when common shares still exist and are part of the ownership?
Commons = 690M shares. Since these shares still exist, how can any other formula be used to determine equity ownership?
unless I'm wrong...maybe all shares have already been cancelled and now the one share pool determines retained equity ownership.
if that's the case, then we are all paid out based on our former priority...
Pay off all the claims @ $65B. Merge with Bank of China (???).
Pay off the CT's from the NOL merger proceeds, then issue stock in the new company to all preferred shares and common stock holders.
am I getting close?
cheers,
Jim
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