Anyone who has followed my line of DD knows I have always believed we will be paid outside the POR, as an assumed or assigned executory contract (which CTs qualify as). Normally, post petition interest is paid to only oversecured creditors, whom are receiving full recovery in the Lehman bankruptcy. Even if the POR states that unsecured creditors are entitled to post petition interest....it will not happen. Unsecured creditors are being paid to the extent of bankruptcy 365 liquidated asset value. In Layman's terms...yes, unsecured creditors agreed to some .20 cents on the dollar, but stand to receive more through the possible increased value on the assets once liquidated. After that, POR is closed out and those creditors are deemed satisfied. Linda, if you get a chance, do some DD on assumed executory contracts in bankruptcy. That is what is happening here IMO. A contract such as CTs can be assumed and will be entitled to their full contract rights despite the fact senior creditors accepted a less than full recovery. Both Barclays and US Bancorp have banking divisions that fit the criteria to benefit from our grandfathered truPS in accordance to Dodd Frank.
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