Replies to post #27880 on Lehman Brothers Financial SA (LEHNQ)

[hestheman]

Some of the language posted by Cotton a while back as it partains to class 10B would suggest that CTs are in class 10B with the junior subordinated notes. After all, the notes along with the SPE structure is how CTs get paid in the regular course of business...and the language describes that same course/payment setup in the BK liquidation payout. CTs can live on their own merit however, separately from the subordinated notes and even from the SPE after bankruptcy. I believe the CTs have value to a reorganized/merged company. Stay tuned...