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camaro4me

10/28/13 2:28 PM

#35375 RE: MikeJones8 #35374

We are "Satisfied in Full", some explanation from another board:

"Der is a difference between paid in full and satisfied in full. With dat said, lets just look at this in a chapter 11 liquidation scenario which is easier to explain. Da same principals is for a chp 11 reorg but is applied a little different,

When goobers look at a chp 11 liquidation which da devil will assume is what Joey boy refers too, ALL CLAIM MUST BE PAID IN FULL or until the debtor is out of monies. Remember day pay in CASH so they will liquidate until everything is gone. That is true with every chp 11 BK, esp chp 7. In a chp 11 gives it a more organized way to liquidate. This all is also true for Lehman if, it is in liquidation which there is a high probability it is in,

Wit da said, der is a reason for a bk and a POR. The POR is the order that is provided for the liquidation under chp 11. (again I am using a chp 11 scenario to explain). Satisfied in full means that the allowed claims in the POR that voted for the plan accepted a lesser amount to their claims. The Lehman POR in general states that all assates will be liquidatated until the POR is satisfied in full and also gives the agreed precentages which comes out to be about 65 bilion. Can they get more? Sure depends on the intention i.e liquidation. Satisfied in full is more so used as language in the POR to trigger events for CT's purposes. Its stated in black and white CT's reallocation will end after the allowed claims are satisfied in full. That alread as happened as stated in the opening paragraphs on one of the 10/3 court docs. To back that up, post petition interest is paid to the allow claims that qualify for it., Most allowed claims normally dont get post petition interest but there are exceptions and it seems there is about 60 million worth for Lehman. So yes, Lehman is satisifed in full and can be verifed by the paying of post petiition interest. The POR is either Satisfied in full or not."