JPMorgan took part of the $8.6B and gave it to the JPMorgan Investment Fund (75000 share @ $1000 face value) $75,000,000 and said cancel the Lehman Brothers loss off your books.
Now, Judge Peck has to approve that transaction, via safe harbor section 546(e) written opinion, or JPMorgan will need to give $75,000,000 back to Lehman Brothers and Lehman will reallocate the $75 Million to higher classes.
The 1934 Trust Indenture Act mandates that all members within a class be treated the same and Lehman Brothers (Debtors) knows this because they have spoken about this matter in related dockets (search my old posts). However the "Equitable Subordination section" of the BK code can address the debtors concerns. LOL
Debt cannot be discharged in a liquidation plan. LOL
Debt can be discharged in a reorganization plan! Big difference...LOL
***************Reorganization Plan**********
Lehman Brothers Wins Court Approval for $65B Reorganization Plan
Order Signals End to Largest Bankruptcy in US History
(December 6, 2011, Weil News)
Market Data 
Markets 
AI
