Lehman Brothers Holdings Inc. (fka LEHMQ)

[JJPK]

Lehmq is where the conversation is.

[JJPK]

Lehman is where everyone is

[cyb]

I'm new to Schwab but curious, has it always showed the interest? I see it under the income tab..

[newflow]

THESE WERE NEVER AT BK TABLE AS TRUSTS WERE NOT IN BK.
PROSPECTUS RULES,NOT POR FOR CTs.JMO.

[HimBim]

Final Decree Closing Certain Chapter 11


Application for Final Decree / Notice of Presentment of Motion for Final Decree Closing Certain Chapter 11 Cases Pursuant to Section 350(a) of the Bankruptcy Code and Bankruptcy Rule 3022 filed by Garrett A. Fail on behalf of Lehman Brothers Holdings Inc. Responses due by 1/24/2019,. (Fail, Garrett)



https://dm.epiq11.com/#/case/LBH/dockets/59383?debtorId=1906

[JERSEYHAWG]

This is her place, where is she? Lol

[VivaLasVegas]

Heeeeellllllllloooooooo Ines......

[JERSEYHAWG]

WELCOME INES, your own private commons board. I will stop by and keep you company. Lol

[camaro4me]

Kashi, your lehmq shares are locked up in Lehman's One Big Share (OBS) and is not tradeable. I expect that eventually your shares will do well. But it does take time.

[inesdefilia]

OBS is Golden!

[KASHI]

Question i bought LEHMQ few years back since then i didnt check it but now in my account it shows 0 value. is anyone know what is happening with it, is there any hope or its just worthless now.

[jwnoble3]

Here is one possible theory...

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96198525

[ok husband]

that is the point it only has the header but no other paragraphs about how to buy or sell.

[jwnoble3]

Great advice, except you cannot buy LEHMQ anymore...shares were cancelled in 3/2012. All Lehman prefs and commons (lehmq) were placed into escorw accounts for those who held them prior to 3/2012. They are now class 12 in the chap 11 reorg.

This article only talks about penny stocks. Where is the buy recommendation on lehmq?

GLTA JW

[jwnoble3]

Great advice, except you cannot buy LEHMQ anymore...shares were cancelled in 3/2012. All Lehman prefs and commons (lehmq) were placed into escorw accounts for those who held them prior to 3/2012. They are now class 12 in the chap 11 reorg.

This article only talks about penny stocks. Where is the buy recommendation on lehmq?

GLTA JW

[ok husband]

got an email from these guys stating to buy lehmq !!!LEHMAN BROS EXACTS REVENGE

http://news.silobreaker.com/lehman-brothers-exacts-revenge-rigs-market-with-booby-trap-5_2267679121674862636

[FORDGT]

Thu May 2, 2013 1:36am EDT

(Reuters) - Bankrupt investment bank Lehman Brothers has sued Intel Corp, accusing the chip maker of seizing $1 billion in collateral in breach of a swap agreement, a court filing showed.

Under the swap agreement, executed days before Lehman filed for bankruptcy in 2008, Intel gave $1 billion to a derivatives unit of Lehman Brothers in exchange for 50.5 million Intel shares, to be delivered on the settlement date of September 29, 2008, according to the filing made in a New York bankruptcy court.

The unit, Lehman Brothers OTC Derivatives Inc (LOTC), posted $1 billion in cash collateral to Intel also as part of the agreement. The agreement specified that Intel would be compensated for losses in case of early termination of the deal.

According to the filing, Intel maintained that Lehman was to deliver "$1 billion in Intel common stock," but Lehman argued that the agreement was to deliver 50.5 million of Intel shares irrespective of the dollar value.

"The value of 50,552,943 shares of Intel common stock on September 29, 2008 was about $873 million, not $1 billion," Lehman said.

Intel terminated the agreement two weeks after the company's bankruptcy filing on September 15, 2008, and seized the entire $1 billion in collateral and has not returned it, Lehman said in the filing.

By seizing the collateral in its entirety, Lehman said "Intel breached the swap agreement."

Lehman is looking to recover from Intel an unspecified amount to be determined at trial.

Intel could not immediately be reached for comment by Reuters outside of regular U.S. business hours.

Lehman filed the largest-ever U.S. bankruptcy on September 15, 2008, with $639 billion in assets. It is in the midst of repaying about $65 billion to creditors under a liquidation plan approved in late 2011.

The case is in re Lehman Brothers Holdings Inc et al vs Intel Corp, Case No. 13-01340, U.S. Bankruptcy Court, Southern District of New York.

(Reporting by Sakthi Prasad in Bangalore; Editing by Chris Gallagher)

TechTweet this
May 02, 2013 1:49am EDT -- Report as abuse
DeSwiss wrote:
Zombie Lehman Lives!

How many lives are there in a corporate person-hood?

[Gilee-68]

No dude,,, just the opposite... they are all now in a escow account... pending soon :) alot more good news than bad for sure. Everyone posts on the LEHNQ board these days for now. fyi

[hassified]

Hey, just checked my TD and seen where my LEHMQ has now changed into numbers as the symbol. It's not trading. 20,000 shares at .00 worth. I'm sorry but I haven't checked my account in almost a year and didn't know. Is LEHMQ no more. Have I lost my shares even though it still shows 20,000. Please help.

[buddygray]

You give them way way way way way... to much edit. If you follow the paper trail they should have spent some jail time!!!!

[sidedraft]

This whole fiasco made Ben Bernanke have many 48 hour days, after all he, the Treasury, and a few huge banks were trying to prevent the end of the world.

[stripus]

Why would anyone care if Lehman shareholders are robbed when in 2008 the world economy was brought to its knees by corruption, lies, naked short selling, yet no one has ever been charged with a crime.
US regulators practically lived at Lehman and allowed Ernst & Young to shuffle money on and off the books to make the balance sheet look good to middle class investors.

[dine]

You are correct wamugold. We understand the pecking order of prefereds and etc, but what I don't like is that no-one including judges, the SEC, and the justice department do anything when shareholders are being robbed. I am sure you also know about this as you have wamu in your user name.

[Jimzin]

Yes, that's my understanding. also if you owned lehman shares prior to 2008 BK there may be a claim for you.

the rest is just a waiting game...the lehnq board has become the defacto leh board so lots of good info there from some smart guys.

good luck

[sidedraft]

Go here and thumb through all of the claims:

http://dm.epiq11.com/LBH/Claim#ClaimFiledEndDate=07/10/2012&ClaimFiledStartDate=8/01/2008&Scope=5&ds=true&ex=false&maxPerPage=25&page=1

[peonunion]

Who are those claims for then? Secured debt?

I guess its just a waiting game for the CTs

[peonunion]

thanks for the heads up

[peonunion]

i stumbled upon the site lehman-docket.com about it though some readings.

[Jimzin]

no need to file a claim...go to the LEHNQ Ihub message board and follow along. you have some catching up to do, but good things are coming.

cheers

[sidedraft]

How were you informed that you need to file a claim?

[peonunion]

Claim forms for lehman. Anyone know how to file a claim? ive been on lehman-docket and it requires a claim number. I have preferred, common, and CTs

[wamugold]

The rules are made for the rich the rules su ck. The rules can be bent by the rich very easily the poor always loses. There is no justice in this country, just who has the biggest pocket. CASH IS KING!! and corruption is everywhere. The rules should be change in favor of the small guy but that will never happen because those same rich @#$%#rs are the ones making the rules....

[wayne49]

Stock have always been structured that way. There is a pecking order. Common stock is always at the bottom of the pole. Commons get to vote when and have a say in the company affairs when the company is healthy. Preferreds do no have voting rights but preferreds are protected first during any trouble like BK. There is a tradeoff and unfortunately Lehman is in BK. Therefore, IMO in the case of Lehman when the NOLs do come to play, CTs will probably own a huge percentage of the company, then Preferreds with a small chunck and commons wil probably get a very very small share. That is how it works. Those are the rules.

[wamugold]

This is just another bull$@%# example that does not make any sese to me. You are telling me that preferreds cant have that money if equity is wiped out. So they will use equity to get payed and then give equity the shaft. Does anyone else see something wrong with this picture. Just another example of greed among rich people. Common folk are always taking risk to get a small piece of the pie while preferreds never take any risk and get to keep all the money even at the expense of the common folk. Why do we allow this to happen. The common folk need to mass in numbers and make this rich folk pay for their abusive behavior.

[hestheman]

True....out of character for me to post over here but there was some facts I wanted to relay concerning the common shares. Some good posts by cotton this weekend on the N board. There are several different ways things can go down but I think there are blue skies ahead for cap trust preferreds IMHO.

[stripus]

Quiet around here since everyone is on the N board.

[hestheman]

Unfortunately, common shares often do get the shaft in the majority of chapter 11 cases. BK chapter 11 rules often adhere to what is known as "absolute priority". In a BK, all secured creditors get paid first....followed by senior and junior unsecured debt, then what is left over goes to equity classes. If applicable, Trust preferred shares are first in line followed by preferred stockholders. Common shareholders are dead last in the bankruptcy waterfall and are often wiped out. NOLs are often a chapter 11 company's greatest asset. Max NOLs can be reserved by the reorganized company by using EITHER old cold debt OR old cold equity. That old/cold debt/equity must represent 51 percent of the newly issued shares. In many reorganizations they will use a debt for equity swap with old/cold creditors and those creditors will represent 51 percent of the new company. That is how most reorganized companies out of chapter 11 maximize NOLs but are able to cancel all former common shares. In the Lehman case, we allready know secured creditors are being paid IN FULL 100 percent on the dollar. Senior and junior unsecured classes are being paid some .20 on the dollar, however that should make many of those creditors whole because much of that debt was purchased for pennies on the dollar AFTER the BK. It was estimated some $38 billion in Lehman unsecured debt traded hands JUST LAST YEAR. This means that much of the senior/junior unsecured debt will NOT qualify for old/cold status in the reorganized company. This puts Lehman capital trust preferred shares in line for a VERY LUCRATIVE OPPORTUNITY. We just may possibly be one of the few (if only) lehman entities that the new reorganized company can use to qualify for old/cold status. This would mean trust preferred shareholders could very well make for [up to] 51 percent of a reorganized Lehman. We would receive a debt for equity swap (a ratio the powers to be will determine that would make trust preferreds whole) then it is a possibility that preferred shareholders may see a miniscule cut of shares. I don't expect commons to see a cut but it could happen. Mirant commons received a cut but it was next to nothing really. I'm not saying this to offend any common shareholders here, it's just how bankruptcy works. GLTA

[pleeb01]

Jim and Jers.
Nice to see some worthwile info on this subject. I'm sure like me, many people here are new to trading and appreciate the educational info.
Thanks again and please keep it up.

[octagramt]

yes, a 50 billion Net Operating Losses (NOL) could be a great boon for Chinese Banks

[JERSEYHAWG]

PEGASO, i dont know.
Only the end will the truth be known. Until then its all guesswork.
It sure would be nice i have a pile of em.

GLTY

[Jimzin]

Greetings Hestheman and thank you for the additional insight. I will review your prior posts and read more about the Mirant BK Chapter 11 to get educated even more.

I only own LEHMQ commons so tell me if you know the BK rules on this...It would appear to me that LEH is benefiting tremendously by NOT cancelling the common shares (+/- $50B). I understand that LEH preferred shares are a higher priority and they should be paid out at face value before commons. But if you have a $50B NOL and LEH merges with company X for say half the value of the NOL's, then LEH preferred shares can easily get paid in full and the remainder should go to commons. I believe I read in other posts that LEH preferred shares are worth +/- $2B at face value.

Wouldn't you agree that commons would be getting shafted otherwise? It could be argued that common share holders are holding the company together...without us there would be no NOL.
commons shares = (689M @ .03), or say $20M value.

If the value of the new company is say $20B (not unlikely), would it not be correct in assuming that common shares would be valued at 1000 times current $.03? or am I just dreaming and doing bad drugs?
I'm not following how a company can come out of BK with common shares intact and then indiscriminately value those shares at anything less that the value of the new company - when it was common shares that allowed them to take advantage of the NOL in the first place. what am I missing here?

Cheers and GLTA!

[Pegaso]

How about preferreds? Will they get something?

[hestheman]

Jimzin, regarding the NOLs....you are only partially correct. For now, the company ownership must remain in tact. When the time comes for a possible merger or new Lehman launch, 51 percent of the reorganized company must be held by old/cold equity OR old/cold debt to maximize NOLs (read my MANY posts on this subject from the Lehnq board). A good example to look at is the Mirant BK chap 11. BK absolute priority must always be followed. In the Mirant case, trust preferred shareholders received a ratio of nearly 1.5 new common share per 1 old share of trust preferred stock after the reorganization. Old common shareholders were not cancelled, but they received a very miniscule amount of new shares. I can see current shareholders in Lehman receiving a similar deal to what Mirant's shareholders received. I think that the value of the new Lehman will be substantial....so a 1/1 ratio for trust preferreds post reorganization/merger could make many millionaires. JMHO

[Jimzin]

Good question Jerseyhawg. The Lehman NOL's are very valuable to Lehman and to any future JV, merger, acquisition, buy-out, etc...
The NOL moves with the holding company. The only reason that LEHMQ common shares were not cancelled was due to the IRS law that says if you use the NOL's the company "ownership" must remain in tact. Common shareholders are the "owners" of LEHMQ. Meaning a bankrupt company that cancels their shares (like GM) would not be able to utilize any NOL they may have on their books.

This is a fascinating subject and you never know...it may just pay off big or fall like a rock.

Good Luck!

[JERSEYHAWG]

Question, how do you think the NOLS have anything to do with LEHMQ, COMMON STOCK?
IMHO, LEHMQ will be worthless in the end. Dont get me wrong as i own them myself.
i could only hope they get something, but highly doubt it.

IMHO, the CAP TRUST shares have the best chance for some monetary settlement in the end.

GLTA

[VivaLasVegas]

When is the MONEY GOING OUT TO INVESTORS? Why the delay?

Should have already occurred.

[Jimzin]

In the Wall Street Journal today it was reported that Hillary and Geitner cleared that way for China owned banks to set up shop in the USA. I'll make a prediction here...LEHMAN has a $50B NOL in their back pocket. This would make for a great "partnership" with an Asian/USA bank that would not pay US taxes on the first $50B in profits.
That's the true value of our LEHMQ stock...$50B.

cheers all

[marayatano]

Zero, eom.

[octagramt]

how much money is going to stock holders...

[MiamiGent]

Lehman plans $22.5 bln payout to creditors
PROVIDED BY Reuters - 3:55 PM 04/11/2012

* $22.5 bln initial distribution to begin April 17

* Figure is higher than initial payout estimates

* Lehman exited bankruptcy in March with $65 bln payout plan

* Eyes second distribution later in 2012

By Nick Brown

April 11 (Reuters) - Lehman Brothers Holdings Inc next week will begin paying out $22.5 billion to its creditors, more than it initially estimated in the first leg of its $65 billion creditor payback plan.

Lehman, which ended the largest-ever Chapter 11 bankruptcy in March, will begin making payments April 17, it said in a statement on Wednesday. That date coincides with a tentative payout schedule announced last month. The company said in the statement it is eyeing a second distribution around Sept. 30.

The $22.5 billion first distribution announced on Wednesday, much higher than Lehman's initial minimum estimate made last month of about $10 billion, is relief for creditors who have been waiting three-and-a-half years for their money as Lehman has trudged through a messy liquidation. The firm's collapse in September 2008 was a catalyst of the global financial crisis.

The company fought for control of its bankruptcy as multiple creditor factions, including derivatives creditors like Goldman Sachs Group Inc (GS) and bondholders led by Paulson & Co, sought to impose competing payout plans that favored their constituents.

Lehman in June proposed a plan it touted as a "global compromise," estimating about $65 billion in total payback and giving many creditors recoveries of between 20 and 30 cents on the dollar.

That plan was approved by a bankruptcy judge in December, and Lehman officially exited Chapter 11 protection last month.

Creditors of Lehman's parent will receive about $10.2 billion under the initial distribution. Those creditors are ultimately projected to recover about 21 cents on the dollar.

Derivatives creditors, ultimately slated to recover about 28 cents on the dollar, will get about $6.9 billion under the first distribution.

Lehman's payback plan projects recoveries of $65 billion for creditors that have asserted more than $300 billion of claims. The estimates, however, depend on Lehman's success in ongoing efforts to market and monetize its real estate and other assets, which in turn could be affected by changes in markets.

A spokeswoman for Lehman declined to comment on whether the company's recovery estimate could change.

Spokesmen for Paulson and Goldman did not immediately respond to requests for comment.

The bankruptcy is In re Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555. (Reporting By Nick Brown in New York; editing by Matthew Lewis)