So I noticed some of my Lehman bond issues have been placed in escrow and there are just two issues that are still considered open positions and they are both in my Roth IRA.
We're supposed to be receiving less than 50 cents on the dollar according to The New York Times or more precisely, 21.1 cents on the dollar according to FT.com, but my Distress Investing: Principles & Techniques book doesn't mention anything about escrow bonds.
So what happens next? I know the payouts could come as early as April. Either way, if I'm getting a minimum of 21.1 cents on the dollar for the bonds in escrow or the open positions, I'll be happy.
My only hope is that I'm still invited to the Lehman Payout Party - THE $65 billion event of the year. There are still some prime assets left in the Lehman Estate, so I wonder what will become of these assets following the payout? I don't feel like I'm getting the maximum return since the Archstone battle could result in additional cash for creditors.
P.S. With the 21.1 cents on the dollar payout, my estimated payout will be 5 figures for the bonds in escrow and four figures for the open position bonds. So it makes a big difference which bonds are getting the payout - or perhaps even both if I get really quote unquote lucky?
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