Lehman Brothers Financial SA (LEHNQ)

[joyceschoice]

Didn't we know that already? The Master List didn't have the CT's on it.

[joyceschoice]

Thanks for the link. After a quick look I see its from 2014. There's no corporate entity currently with that name so not sure what to make of it. It's quite long and the legalese is mostly above my pay grade. I don't see how Bay Harbor Acquisitions relates to the CT's.

[joyceschoice]

JHawg - You just reminded me of something. What happened to Calypso?

https://www.waterstechnology.com/data-management/2110465/legacy-live-on-calypso-saas-platform-for-valuations-risk-management
https://tinyurl.com/mptxa5mm

[JERSEYHAWG]

Dead men tell no tales.

interesting

[sidedraft]

Thanks, that makes sense.

[stoxjock]

Exempt from BK....

[sidedraft]

Exempt from what?

[SwissCheeseAccount]

Phuket hotel

[stoxjock]

I did see see this list a while back but thanks very much for posting it. I saved it, just in case... Apart from the ECAPS under the heading 'European Entities, all the 4 CT Trusts are listed under the US Entities.. And there are a Ton of Entities in Asia...GLTU & GLTA!

[newflow]

WOW - EXEMPT ENTITIES LIST as of September 17, 2009 including CTs. Not in BK i think.
https://document.epiq11.com/document/getdocumentbycode/?docId=1320846&projectCode=LBH

[newflow]

https://www.acgov.org/board/bos_calendar/documents/DocsAgendaReg_05_27_14/GENERAL%20ADMINISTRATION/Consent%20Calendar/Auditor_202876.pdf

[joyceschoice]

I can't find a company with that name. I can find variations on the name but not an exact match. Can you post a link?

[newflow]

HARBOR BAY ACQUISITIONS LLC - JUST A JIST OF IT, ENJOY.

[toogoodfella]

HE WONT STOP. In his mind, “I’m smart!!”

[cottonisking]

🐄🐂🐻No one controls the inflow and outflow of Cripple-Toe. Milk those cows and bulls and bears with Cripple-Toe. Big money is always the winner. You got yourself a high tech Ranch.

[Jimzin]

LOL! Do yourself a favor Cotton and teach yourself all about Bitcoin. Forget all others…Only Bitcoin. Spend 1 hour, then 10 hrs. From there you will probably want to devote 100 hours, then you’ll be smart.

Cheers

[cottonisking]

Sir, take as much time as you need to successfully complete Lehman Brothers' Business. Just do not ever pay me with Cripple-Toe or Crypto money. I can barely walk today without thinking about all those rollercoaster coins. Dollars will be just fine.

[cottonisking]

Updated - 🛑 🛑 🛑 Reality: Like it or not, only one home grown person can aid Lehman Brothers and negotiate WW III now or next year.

Show me our cash now! Take this Lehman Brothers' train off the railroad tracks, this year and run for the hills. United States' Foreign Policy is really foreign to the real Americans. Very similar to Subordinated Creditors' Cash in this Bankruptcy. YAWHO?

August 3, 2024 7:00am EDT GEN. JACK KEANE: Certainly we feel good about getting our people back, for sure, and credit the administration for their work in a complicated deal to get them back. But look, this model isn't working and we've got to recognize there's a new chapter being written right in front of us that even the previous administration was not dealing with. Whoever takes power here next year is going to deal with this reality. China, Russia, North Korea and Iran are all working together, undermining the United States. And they started a war in Europe and also in the Middle East. And they're threatening a war in the Indo-Pacific region. We could find ourselves at war in more than one place. And they're undermining the United States because they believe we're weak. They believe that we're not going to confront them. And this is just another tool in their elements of national power that they're using against us.

[JERSEYHAWG]

Thanks stox.....

Your a good sport and post good stuff.

Let's see what happens.


SOON

yo, shout out to edbk. See if I can wake him up. Lol

[stoxjock]

Yeah, Time for LBHI to show its cards....What is it going to 'distribute' when there is nothing more to 'distribute'...we'll know Aug 18th, hopefully...

[JERSEYHAWG]

I actually enjoyed seeing the word. Thank you.

SOON

🫡

[joyceschoice]

Or at least - SOON!

[stoxjock]

Hopefully we'll get the News of LBHI 'Closing BK filings' by Aug 18th.

[JERSEYHAWG]

PAY ME.


than get your fee

Lordy these folks suk. And waiting for Lehman to end. It suks to. Lol

[s404n1tn0cc]

Of course not. They were taken over ... not by us. Only when we want to transfer them vuluntarily- Then ther's a cost.

[newflow]

All subs are up and running
https://opencorporates.com/companies/us_ny/315861
FRAH SPECIAL SERVICES INC. BRANCH
Company Number
315861
Status
Active
Incorporation Date
8 October 1971 (almost 53 years ago)
Company Type
FOREIGN BUSINESS CORPORATION
Jurisdiction
New York (US)
Branch
Branch of FRAH SPECIAL SERVICES INC. (Delaware (US))
Registered Address
One Portland Square, Suite 6A
Portlnad
04101
ME
United States
Previous Names
FRAH SPECIAL SERVICES INC.
SHEARSON LEHMAN SPECIAL SERVICES, INC.
LEHMAN SPECIAL SERVICES, INC.
Agent Name
Registered Agent Revoked
Agent Address
NEW YORK
Directors / Officers
CHRISTOPHER O'MEARA, chief executive officer
LIHC INVESTMENT GROUP, dos process agent
Registered Agent Revoked, agent

[jwnoble3]

June 1, 2024 - June 30, 2024

Operating Expenses and Other (1.5)
Total Sources of Cash 0.6

For the month of June spent $900K more than cash brought in


Free cash 5.0 - Only $5M available for distribution, since last distro

[newflow]

jw... where did you see operating expense is more than cash flow?.
Sources of cash is $100 mm
Operating expense is $1.5 mm
Any problem?.
LBHI is reorganized on March 6, 2012 and operating with $400 Billion assets, IMO.
https://document.epiq11.com/document/getdocumentbycode?docId=4362348&projectCode=LBH&source=DM
Chapter 7?. Pure BS.

[JERSEYHAWG]

Thanks JW

A bit late. Just saw your reply

[jwnoble3]

Correct, combined with residual cash flow that would be less than stand alone operating expenses

[The Godfather]

The NOL as the asset for the SPAC? What else could they use to purchase/merge with a profitable business?

[cottonisking]

LBHI and its controlled and non-controlled Subsidiaries/Affiliates are a team.

LBIE:

Category Description of tasks 
 Cashiers and treasury 
 This is an essential function 
 for the management of 
 funds held by the 
 Administrators on behalf of 
 the Company. The 
 Administrators’ treasury 
 and cash management 
 teams monitor and control 
 the movement of funds, 
 mitigate risk and seek to 
 maximise the interest made 
 on investments for the 
 benefit of the Company’s 
 creditors. 
 ? Managed the funds held by the Administrators, to ensure optimal level of funds held 
 on deposit within risk policy; 
 ? Monitored and controlled the movement of funds, mitigated risk and maximised the 
 interest made on investments; 
 ? Performed regular bank reconciliations for all bank accounts; and 
 ? Carried out daily monitoring and processing of cash receipts and payments and 
 notification of movements to the Core Team. 
 Tax and VAT 
 Work reported in this 
 category includes 
 compliance with tax 
 legislation under the 
 Administrators’ obligations 
 as proper officers for tax, 
 and planning to ensure the 
 efficient realisation of 
 assets for the benefit of the 
 Company’s creditors as a 
 whole. 
 ? Dealt with Tax and VAT queries and liaised with HMRC; 
 ? Submitted tax return for y/e 14 September 2022; 
 ? Drafted tax return for y/e 14 September 2023; 
 ? Provided advice on the sale of MCF’s trading subsidiaries (SPML & PML); 
 ? Finalised the 2021 group tax loss position & drafted the 2022 group tax loss 
 position; 
 ? Prepared and submitted quarterly VAT returns; 
 ? Reviewed various documents prepared by legal team and accountants; 
 ? Calculated tax provisions; 
 ? Provided tax advice and prepared accounts to support preferred equity distribution; 
 ? Liaised with Internal Revenue Service in the US; and 
 ? Ongoing consideration of group relief/losses position to determine amounts 
 available for surrender. 
 Other PwC Staff 
 Other PwC staff who 
 provided the Administrators 
 with advice and assistance 
 as necessary for the 
 completion of the 
 Administration. 
 ? Supported regarding SPML and PML, reviewed monthly management accounts 
 and documentation; 
 ? Meetings and discussions held with various counterparties and lawyers prior to 
 entering into NDA’s with parties that were interested in acquiring the shares in 
 SPML and PML, including review of offers received and drafted a sale and 
 purchase agreement; and 
 ? Support received from members of the Disputes and Investigation team regarding 
 ongoing litigation matters including preparation of the reply to the SoD. 
 Future work 
 Examples of work remaining to be done to achieve the purpose of the Administration are shown below. This is not an 
 exhaustive list. 
 ? Statutory reporting and compliance with the Insolvency Rules; 
 ? Ongoing tax and VAT returns; 
 ? Review and maintenance of financial information including reserves; 
 ? Ongoing realisation of remaining assets; 
 ? Progress continuing legal matters as set out earlier in this report; 
 ? Seek consensual resolution on outstanding matters, where it is appropriate to do so; 
 ? Continuing to wind down the portfolio of securities; 
 ? Consider further proposals from the Directors to make equity distributions to LBHI2 provided there are future 
 funds to do so; 
 ? Progress the sale of MCF’s trading subsidiaries (SPML & PML); and 
 ? Regular reporting and discussions with the Operating Committee. 
 On a regular basis the Administrators provide detailed reports to the Operating Committee in relation to the expected work 
 required to complete the Administration. These reports include estimated costs and benefits to the creditors of LBIE. 
 15 Administrators’ progress report from 15 September 2023 to 14 March 2024

[jwnoble3]

If Oper. expenses continue to be more than cash generation, then creditors are losing money. Will be push to IPO to become a SPAC or remote chance of chapter 7

https://www.investopedia.com/terms/s/spac.asp

More likely a SPAC, IMO

[JERSEYHAWG]

JW.

Get into your thoughts a bit deeper.

Where are we headed besides circles?

We need a breakout or bust. Lol

Ty JW

Either a ongoing business or big zero. Git R Done

[jwnoble3]

New MOR is out. Oper. expense more than cash generation

https://document.epiq11.com/document/getdocumentbycode?docId=4362348&projectCode=LBH&source=DM

[JERSEYHAWG]

I still have 3 piles.

Only 1 moved. Lucky I guess.

I read every day. Don't post much. Just waiting for the final bell. 🔔

Good seeing everyone.

[4Duxs]

Jersey, exactly. When we had TD separate from Schwab we had three piles, now we have two. I too thought three separate accounts was ideal.

[JERSEYHAWG]

I never thought about moving them. Why?

I just have 3 piles. I leave them all sit where they are.

[bluebird50]

Seems like there was issues with some transfers…. Thanks!

Hopefully this wraps up this fall.

Wake up one day and have some cash in the account.

[4Duxs]

I agree, I have Fidelity and Schwab ( TD). I’d like to move my Schwab account. Any of you have a suggestion of a good alternative you’ve liked?

[4Duxs]

Fidelity won’t take them. I tried when TD was merged with Chuck’s, they wouldn’t accept the transfer.

[cottonisking]

🛑 🛑 🛑 Reality: Like it or not, only one home grown person can aid Lehman Brothers and negotiate WW III now or next year.

Show me our cash now! Take this Lehman Brothers' train off the railroad tracks, this year and run for the hills. United States' Foreign Policy is really foreign to the real Americans. Very similar to Subordinated Creditors' Cash in this Bankruptcy. YAWHO?

[JERSEYHAWG]

I don't recall any fees.

[s404n1tn0cc]

Sure we can. Scottrade sent them to TD Ameritrade. Then TD Ameritrade sent them to Schwab. All we need to know is what are the fees.

[bluebird50]

Maybe I should move my shares to Fidelity or half them? Can we even move these?

[s404n1tn0cc]

"You're absolutely right. Diversification is key."

[JERSEYHAWG]

Don't have all your eggs in one basket.

[s404n1tn0cc]

All hards on deck. Schwab is having issues with Banking in general. Whatever happens to the Bank may happen to its trading arm and take our accounts with it.
Just a heads up.

See here.

And as the great one once said. If management says one thing and does the opposite Take your funds and run to the Hills.!!

[newflow]

Firm Obtains Appellate Victory on Behalf of Holders of Over $200 Million in TruPS Debentures
https://www.wmd-law.com/wmd-practice-areas/news/firm-obtains-appellate-victory-on-behalf-of-holders-of-over-200-million-in-trups-debentures
https://static.spacecrafted.com/b677d4098d864f70bbfc696ac1687fec/r/b7d1c95ad90a44a6bbb4940e387882f9/1/TruPS%20-%20First%20Department%20Decision%20(10-20-2022).pdf

[s404n1tn0cc]