Replies to post #11658 on Lehman Brothers Financial SA (LEHNQ)

[littledevils90210]

Well, I cant argue with that which i also do understand. I was told by lehman when i called a few months ago we were quasi both. like i said I have no proof of it except to tell you guys to call for yourself.

Equity or not, I see a discharge coming. If we are not equity then congrats to the real equity because CTs will not be getting anything. If we get discharged, we better hope the lady at Lehman was right.


If lehman is not Equity, IMO the CTs are done unless lehman decides not to discahrge CTs. I do see lehman doing a discharge to get rid of over 350 billion in debt and use equity as the NOL play and as a part of future stockholders....It is foolish to think they will skip a discharge just to preserve the CTs....They can get rid of 350 billion in liability and still use NOLs with equtiy and remaining debt. SOrry but that is a fact. Thank god i hold some J's too. It will be very poor management on Lehman to keep the 350 billion liability on the books and not get rid of them under bk protection rules.

IMO, CTs are in huge jeopardy for a discharge now. good luck to all CTs. and Congrats to the true equity if Cts are not a part of them....go figure...devil

[mik1]

Interesting reading

http://www.gibbonslaw.com/news_publications/articles.php?action=display_publication&publication_id=2754

http://www.pepperlaw.com/publications_update.aspx?ArticleKey=811#14

http://www.law.cornell.edu/uscode/text/26/382

Somebody knows how much is "old and cold" debt really?

[hestheman]

jshuey....I know what we are catogorized as. Remember, it was me who kept telling people on this board along time ago that bankruptcy court classifies us as debt. Perhaps it was the way I phrased "CT's and the other classes of equity". Remember, before BK we were trust preferred equity which is why I phrased it that way. In the scheme of things it does not really matter what we are technically classified as though. In the pecking order we are the lowest ranking debt but higher in priority than the preferred equity classes down to common. The real issue I was trying to address was the discharge. If a discharge occurs...it is a bad thing.