APPEARANCES: WOLLMUTH MAHER & DEUTSCH LLP, 500 Fifth Avenue, New York, New York 10110, By: William A. Maher, Esq., Paul R. DeFilip-po, Esq. (argued), William F. Dahill, Esq. (argued), Vincent T. Chang, Esq. (argued), Jason E. Glass, Esq., Mara R. Lieber, Esq. Counsel for Plaintiff Lehman Brothers Special Financing Inc., CLEARY GOTTLIEB STEEN & HAMILTON LLP, One Liberty Plaza, New York, New York 10006, By: Carmine D. Boccuzzi, Jr., Esq. (argued), Brent Tunis, Esq., Emily Balter, Esq., Counsel for Goldman, Sachs & Co. and Goldman Sachs International, SIDLEY AUSTIN LLP, One South Dearborn, Chicago, Illinois 60603, By: Bryan Krakauer, Esq. (argued), Mark B. Blocker, Esq., Allison Ross Stromberg, Esq., Counsel for Principal Life Insurance Co., SIDLEY AUSTIN LLP, One South Dearborn, Chicago, Illinois 60603, By: Bryan Krakauer, Esq. (argued), 787 Seventh Avenue, New York, New York 10019, By: Nicholas P. Crowell, Esq., Jon W. Muenz, Esq., Counsel for PCA Life Assurance Co. Ltd., MORGAN, LEWIS & BOCKIUS LLP, 399 Park Avenue, New York, New York 10022, By: Joshua Dorchak,' Esq. (argued), Counsel for Continental Insurance Co. of Brentwood Tennessee, Marsh & McLen-nan Master Retirement Trust, Marsh & McLennan Companies, Inc. Stock Investment Plan, Modern Woodmen of America, Inc., PHL Variable Insurance Co., Phoenix Life Insurance Co., Putnam Dynamic Asset Allocation Funds — Growth Portfolio, Putnam Intermediate Domestic Investment Grade Trust, and Putnam Stable Value Fund, CLEARY GOTTLIEB STEEN & HAMILTON LLP, One Liberty Plaza, New York, New York 10006, By: Jeffrey A.Rosenthal, Esq. (argued), Counsel for Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch International, CHAPMAN AND CUTLER LLP, 111 West Monroe Street, Chicago, Illinois 60603, By: Franklin H. Top III, Esq. (argued), Counsel for U.S. Bank National Association, as Successor Trustee, SIDLEY AUSTIN LLP, 787 Seventh Avenue, New York, New York 10019, By: Nicholas P. Crowell, Esq. (argued), Alex J. Kaplan, Esq., Alex R. Rovira, Esq., Andrew P. Propps, Esq., Counsel for Gen-worth Life & Annuity Insurance Co., Magnetar Constellation Master Fund, Ltd, Magnetar Constellation Fund II, Ltd, Magnetar Constellation Master Fund III, Ltd, and UniCredit Bank, AG (London Branch)