I agree that people may get a big surprise. LBHI was very methodical in establishing the OBS. My opinion to eventually merge back all remaining illiquid assets and continue on for some years while maximizing the tax free returrns (nia NOL carry forward).
I do think the POR will be closed with the next payment. Equity will retain a majority stake in the illiquid assets brought back to LBHI (CTs happen to sit at the top here).
Upper tier creditors get a pro-rated portion of the minority stake (~49%), but ultimately will have received more of a recovery due to the NOLs allowing min. taxes while LBHI continues in business long enough to liquidate the remaining assets or merge again to further utilize all NOLs and asset monetization.
HeHeHaHa....Barclays spinning off American Brokerage aka..old lehman and the head of the old lehman back then will be the new CEO....after por is paid off......LBHI will merger with barclay american borkerage/old lehman to have a comeback with barclays still have a major interest as stockholders......helps Barclays with Basil III rquirements and UK regulations and have a lean mean investment bank coming out to close out the history books....LOL....go figure...devil
I was thinking LBHI may emerge, be acquired or acquire a REIT(s). With all of the LBHI remaining diversified real estate holdings and any remaining cash, plus HUGE NOLs (where we get a stake) it would be attractive and pay large divis to equity holders (blend of Sr Creditors and old equity).
Maximizes and monetizes the remaining assets.