Lehman Bros 7.25% Pref''d Series P (fka LEHPQ)

[DJN]

Never use market order... Ouch 400 shares @ 1.38

Looks great in my account though :)

[DJN]

From Nasdaq: Court Asks Barclays to Fork Over $2 Billion in Lehman Assets

http://community.nasdaq.com/News/2011-06/court-asks-barclays-to-fork-over-2-billion-in-lehman-assets.aspx?storyid=79522#ixzz1OebFhDHa

[buccaneer1961]

yes we will have our turn here!

[JERSEYHAWG]

IMHO, we just have to hang tight, been a long time coming, and he who laughs last, laughs best, = $

[buccaneer1961]

i think investors turned attention to the one thats been ignored for the mostpart getting in the one that looks next to run!

[buccaneer1961]

i think investors turned attention to the one thats been ignored for the mostpart getting in the one that looks next to run!

[VivaLasVegas]

Hope we get that dreamshot chance!


Cheers

[S-BEES-BUMBLEBEE]

Volume so far today: 116,180!

[S-BEES-BUMBLEBEE]

B/A: .80 X 1.10!

[buccaneer1961]

thankyou! hope to hear something good here in time!

[homdance]

looks good Buccaneer!

[buccaneer1961]

i got then at 1.09 at open

[buccaneer1961]

oh darn...ok,bought some P today! oh well,hope we do well!

[DJN]

I'm not going sell these for anything less than 100 per share.

[VivaLasVegas]

Times 2.... two blocks 50K at 1.13 and 50K at 1.15

at 10:04 and 10:05am EST.

[DJN]

HOLY CHIT!!! 50,000 buy

[CDR CHOP]

The volume spiked over 110,000! That is amazing.

[uhlmant]

no. LEHPQ is a preferred share. Preffered shares are second to Capital Trusts. Commons are last. Only after Capital Trusts and Preferred Shares are paid in full.

I am not aware of a payoff priority between other preferred shares like lehjq, lehfq, lehdq, lehgq

[buccaneer1961]

ok but p is the top of the pecking order when it comes to settlement stuff?

[uhlmant]

P is 1000$ face value. C/ts remain ahead of preferred shares in payout priority

[leandro213]

Whopping $7,000 traded on the news, hold on multi bagger in the making here. LOL

[buccaneer1961]

i thought the p was worth more than the trust shares??

[DJN]

Lehman brokerage entitled to margin assets: Judge

http://www.moneycontrol.com/news/world-news/lehman-brokerage-entitled-to-margin-assets-judge_555172.html

The trustee for the brokerage arm of Lehman Brothers Holdings Inc is entitled to USD 4 billion in margin assets that have been the subject of a long-running legal fight with Barclays Plc, a bankruptcy judge said on Monday.

As part of the ruling, Barclays will have to return USD 2 billion in margin collateral to the trustee, which is liquidating what is left of the brokerage business.

US Judge James Peck issued the ruling from the bench at a court hearing on the dispute.

In February, the judge ruled that Lehman's hurried sale of its North American business to Barclays at the height of the financial crisis in September 2008 was fair .

At that time, Peck said Barclays was not entitled to roughly USD 4 billion in margin collateral that Lehman had posted to cover outstanding derivatives trades. Since then, the parties have had to return to the judge after being unable to agree on how to implement the terms of his decision.

The USD 2 billion that Barclays must return was the amount of margin collateral in its possession at the time of that February ruling.

The other USD 2 billion in margin assets is held by third parties or the trustee, according to Barclays.

"Today's bench ruling brings finality to this issue by confirming that the USD 4 billion in Lehman cash and other margin assets belong to the trustee," said William Maguire, a lawyer for the trustee charged with liquidating the Lehman Brothers Inc brokerage arm.

A Barclays spokesman, Michael O'Looney, said after Monday's ruling that the bank plans to appeal portions of the February decision.

After the February ruling, Barclays had argued that it should be able to use Lehman-related derivatives losses it had incurred to offset some of the margin collateral it had to return.

On Monday, Peck rejected this argument and also stated that Barclays would have to pay 5% interest, an amount lower than the 9% Lehman had requested in court papers.

The February ruling upheld the overall sale and stated which party was entitled to three classes of disputed assets, the largest of which was the USD 4 billion in margin collateral. In that ruling, Peck said Barclays was entitled to roughly USD 1.1 billion in "clearance box" assets, a conclusion that Lehman did not dispute.

[VivaLasVegas]

As said by Mike Tyson in 'The Hangover'


"NICE !"


I'm hoping we have our days in the sun!


Cheers

[Jestiron]

LOL Would be awesome...but...for now...haven't sold a single one! ::grins:: I don't think this would ever make any money as you and I seem to be the only ones playing the Parlay....and maybe Biz too! ::grins::

Good luck to us all!

-Jest

[Jestiron]

Yeah....I have to say that there seems to be an unusual event starting to take place that may be bigger than all of this. The other BKs are chirping a lot too...something is afoot. IMO

-Jest

[sf]

viva, im beginning to feel like the fed reserve!!! print that money!!! cha ching! gotta say it......GOT PARLAY VIVA? i do!

[VivaLasVegas]

We caught a break today baby!
Oh Yeah!
Lets get ready to Parrrrrlaaaaaaayyyyyyy!!!!

[VivaLasVegas]

You're sitting pretty.
Cheers


GOT PARLAY?

[VivaLasVegas]

Oh Yes!

Please add me to the Royalty river when it makes you a fortune!



I ask.... GOT PARLAY?



Oh yes, Every day Baby!


Lets Get Retired!!!


Cheers and hope you make a fortune!

[DanBB]

We've watched the two mirror each other these past years. And I've been waiting for Lehman to jump on WMI's big news, thinking I would be unloading a dead horse. Yet Lehman has its' own big news now. I couldn't be happier.

This is lining up to be one huge week with WMI and Lehman exploding.

[Jestiron]

Yeah...I certainly do not hold as many as I would like...ESPECIALLY at these prices....however, I own 5x more than I own of the WAMPQs...so that works. LOL

I do not know why these two have been mirroring one another...but there must be something to it IMO.

-Jest

[DanBB]

It's great to see lehman come alive again. I still have a lot of my initial holdings from 2009. Including a ton of J's bought at .0047 LOL Looking good now.

Not to mention P's when it was cheap to buy them in the thousands.

[Jestiron]

Remember this Viva? LOL

http://www.printfection.com/JestWear/Got-Parlay-T-Shirt/_p_4676240

-Jest

[Jestiron]

Jestiron = Parlay as well... ::winks:: eom

[buccaneer1961]

ive a buy order in for morning!

[VivaLasVegas]

Well, if Pref are shown to be anywhere near the smallest of recovery, these would indeed explode higher.


Every 1% recovery is $10.00 here.

[unevilfavouredness]

Could this be in the same position as WAMPQ? This could shoot to $40.00 on news of any recovery for preferreds.

[JERSEYHAWG]

HEY TROY,,,,anything on that VANITY FAIR article yet,,TY

[uhlmant]

over a buck on pqs will bring me to life

[DJN]

Highest Gaining Stock - Lehman Brothers Holdings, Inc. - LEHMQ.PK

http://www.newswiretoday.com/news/91594/

[DJN]

17260 6/1/2011

Notice of Agenda / Notice of Agenda of Matters Scheduled for the June 2, 2011 at 10:00 a.m. Omnibus Claims Hearing filed by Robert J. Lemons on behalf of Lehman Brothers Holdings Inc.. with hearing to be held on 6/2/2011 at 10:00 AM at Courtroom 601 (JMP) (Lemons, Robert)

Debtor: Lehman Brothers Holdings Inc.
Related: none


http://chapter11.epiqsystems.com/LBH/docket/Default.aspx?rc=1

[JERSEYHAWG]

SECOND THAT SENTIMENT !!!!!!!!!

[DJN]

Hey Viva, Welcome back. You know I have the parlay going on here....

With the pullback now on the commons we should see CTs and Preferreds move up and stay that way... Time will tell.


Step aside whoever is sitting on 1.17 all morning long.

Go Qs..................

[stripus]

Yes, still my opinion that the CT's will get something. Probably shares of LAMCO or whatever the surviving company becomes. I still believe at holding the shares at the top of the food chain (LEHKQ, LEHLQ, LHHMQ, LEHNQ), as there are only 48 million shares of them all combined.

[VivaLasVegas]

Yes back after a long absence.

Is it still the opinion of the boards that the Cap. Trusts are like Gold, and Pref's like Silver?
I pray the commons get something nice "SOMEHOW" and everyone here will be extremely happy.


I still dream of the Lehman-WaMu hookup as WaMu exits BK.
But as I said, it's only a dream!
I say they'd be a juggernaut in business if they could pull something crazy like that off.

I've screamed GOT PARLAY FOR 3 years.... I'm still screaming it.
But just at a different lower-leveraged level for myself.



Cheers, Hope you're all great, and I truly hope you all Get Retired!

[stripus]

Nice to see you back Troy. I also noticed Viva is posting again too on the LEHMQ board.

[uhlmant]

not really sure if the profits are but maybe the enthusiasm is. There is hope that even against overwhelming odds we will see a recovery to the rightful owners of lehman...LBHI

[stripus]

CTS, especially the N's this morning are up. N's are +80% on 18k shares traded.
Is this the WAMU factor? Are those profits hitting these now?

[VivaLasVegas]

I hope everyone gets there!

Added another 1400 of the PQ's today.

Missed getting filled on J's.
Now it's not mathematically prudent to go there, so I went back to the PQ's where someone is a wall.

I think when that PQ wall topples it'll pop for a few bucks quick.

I mean hell commons are trading for 1/15th of the PQ's. LOL


I've sold a few of the WAMPQ's to buy LEHPQ's for 1/40th of the price.
Call it the greedy need for leverage I guess. LOL


Cheers