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So Lehman Brothers after conning so much of our money still reserves the right to prevent the receiver from terminating the swap agreements, (which is to protect the noteholders from further erosion of the value of the underlying securities or any further defaults in the derviatives). Just because they have angmo lawyers, they think they can bully us, the noteholders. We boycott all American goods and all American banks, plus the successors to Lehman Brothers in Singapore.
Replylioninvestor,
So are the series 1-3 similar or different from series 9 & 10?
I felt hope was within reached earlier and now it is gone.
1-3 are different. They will be more difficult to unwind compared to 9 and 10.
ReplyI refer to the last paragraph of this post on “Minibond Restructuring No Longer Possible”.
I found a similar sentence in
http://sg.news.yahoo.com/cna/20081203/tap-737-lehman-minibond-holders-get-swif-231650b.html
In addition, this news from yahoo mentioned “Even though Minibond Series 1, 2 and 3 have not defaulted yet, they are expected to go into default soon and holders would face the same process as those who bought Series 9 and 10.”
Series 2 has defaulted since there was no coupon payout in late Nov.
I don’t know if series 1,2 and 3 have any swaps.
ReplyThere was a mistake in the CNA article.
Minibond series 1-3 are different from 9 and 10.
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