Lehman Brothers Financial SA (LEHNQ)

[bluebird50]

The restriction of trading is a SEC related item…. Not the Company’s fault aside from bankruptcy…

[goodietime]

"but locking up shares gives hope. there must be a reason."
Didn't they create OBS to prevent trading and preserve the possibility of using NOL's?
IF, they don't become an ongoing concern, are they liable to the shareholders who were/are prevented from trading?

[stockanalyze]

no end to this. but locking up shares gives hope. there must be a reason.

[s404n1tn0cc]

Sound good 35 Trillion.!!! That must be noted as per year. Why? money goes in and out. On the lower end lehman alone originates 350 Bilion in earnings. Why Best lowest estimate by me is 1 percent for origination. Only thing missing is the cost of the insurance! Note thats not including physical assets that is set aside or 35 Billion IMO..

[s404n1tn0cc]

Darn right !?? We're past mid-year and no MOR. Or Numbers.
It is what it is. No Order "Satisfaction in full" or talk about that issue.
Hoping for the best.

[cottonisking]

BlackRock and Starbucks will merge one day:

We will still be in bankruptcy.

Starbucks
https://www.starbucks.com › single
Raccoon Cake Pop
100?Stars item. Vanilla cake mixed with buttercream, dipped in icing and finished with a raccoon-face design. - VEGETARIAN. 150 calories, 14g sugar, 7g fat.
$150.00 · 60-day returns

[cottonisking]

365 days/year × 16 years = 5,840 days

quicksand
Overview
Usage examples
Similar and opposite words
Dictionary
Definitions from Oxford Languages · Learn more
noun
loose wet sand that yields easily to pressure and sucks in anything resting on or falling into it.
"it's best to travel with a local as there are quicksands"
a bad or dangerous situation from which it is hard to escape.
"John found himself sinking fast in financial quicksand"

[stoxjock]

I hope we will get some Filing about closing the BK from LBHI in September...they are really testing our patience now.... Absolutely no need to drag this on and on...Its as if the lawyers want to keep billing and they may be padding more hourly billings than what the 'distributions' are to the creditors, at this point....

[cottonisking]

LBHI's Leadership will not bark about the future of this bankruptcy:

Years ago, I delivered about fifteen tons of top soil to a customer's home. When I got out of my dump truck, a dog bite me on the back of my leg. The dog never barked at me. When they do not bark, they will bite. The other day, I was in the woods checking on my horses, the neighbors' dog jumped and started barking at me. Me and the dog slowly retreated.

We do not have a clue about LBHI. PWC will bark and write a report. LBHI will not bark on an Appeal in Court.

bark1
noun
the sharp explosive cry of certain animals, especially a dog, fox, or seal.
Similar:
woof
yap
yelp
bay
growl
snarl
howl
verb
1.
(of a dog or other animal) emit a bark.
"a dog barked at her"
Similar:
woof
yap
yelp
bay
growl
snarl
howl
whine
2.
utter (a command or question) abruptly or aggressively.
"he began barking out his orders"
Similar:
say/speak brusquely
say/speak abruptly
say/speak angrily

[toogoodfella]

RE: I thought Lehman had quite a bit of NOL'?

CORRECT! but you have to understand what you can do with the NOL.

Or understand what NOL is?

[goodietime]

I thought Lehman had quite a bit of NOL'?

And with the possibility of much higher tax rates, they become that much more valuable...

[solgari]

Many of you seem to agree that the lbhi bk may close soon and we get paid as long as it remains as a going concern.

But there seems no consensus how it will get there. Just want to see some light at the end of the tunnel.

[toogoodfella]

RE: Is this likely for LEHMAN to transfer to chaper 7…

—-//——//——

ABSOLUTELY YES. That is if LBHI did not get a new fresh capital from the creditors.

[Ray_137]

That seems unlikely.

[bluebird50]

One condition is all the NOLs go away….

[Ray_137]

Is this likely for LEHMAN to transfer to chaper 7? There must be some conditions for such a transfer.

[jwnoble3]

Hopefully not chap 7 with these types of BOD members-

https://www.linkedin.com/in/david-pauker-93240033/

[JERSEYHAWG]

I see talking out of both sides of the dilemma.

Cheeesh.

Time will tell. GLTA

[JC Pinny]

Sounds like “Sweet 16” too me lol :)… “Let it be let it be” #Beatles

[toogoodfella]

RE: LBHI must be completely out of default.

——-//——-//—///

Immediately! Or else, some big CTs holders may do some legal actions.

[toogoodfella]

RE: ONLY IF!

KEEP IN MIND; ….Only if LBHI Intention is to stay as a “Going concern business”… After this chapter eleven is closed, LBHI must be completely out of default.
All accumulated interests therefore must be paid in full.

PAID IN FULL BABY! …SIXTEEN YEARS!!

BUT IF!…. If LBHI will switch from chapter eleven into “Chapter seven”…., no one will get a single penny.. then, let us all forget LBHI. 😂

[cottonisking]

Secured Overnight Financing Rate (I:SOFR)
Secured Overnight Financing Rate is at 5.32%, compared to 5.35% the previous market day and 5.30% last year. This is higher than the long term average of 2.21%.
https://ycharts.com › sofr
Secured Overnight Financing Rate Market Daily Trends - YCharts

[joyceschoice]

So SOON.

Sweet.

[cottonisking]

Journal of Financial CrisesYale University

EliScholar > JOURNAL-OF-FINANCIAL-CRISES > Vol. 1 (2019) > Iss. 1

The Lehman Brothers Bankruptcy G: The Special Case of Derivatives
Authors
Rosalind Z. Wiggins, Yale School of ManagementFollow
Andrew Metrick, Yale School of ManagementFollow
Document Type
Case Study

Case Series
The Lehman Brothers Bankruptcy

JEL Codes
G01, G28

Abstract
When it filed for bankruptcy protection in September 2008, Lehman Brothers was an active participant in the derivatives market and was party to 906,000 derivative transactions of all types under 6,120 ISDA Master Agreements with an estimated notional value of $35 trillion. The majority of Lehman’s derivatives were bilateral agreements not traded on an exchange but in the over-the-counter (OTC) market. Because derivatives enjoyed an exemption from the automatic stay provisions of the U.S. Bankruptcy Code, parties to Lehman’s derivatives could seek resolution and self-protection without the guidance and restraint of the bankruptcy court. The rush of counterparties to novate Lehman’s derivative contracts and the confusion following contracts that were terminated after its bankruptcy filing added to the stress of the financial crisis in two ways: (1) loss of value to the Lehman estate and (2) exacerbation of the contagion effects of the bankruptcy. This case explores the disposition of Lehman’s derivatives and its impacts.

Recommended Citation
Wiggins, Rosalind Z. and Metrick, Andrew (2019) "The Lehman Brothers Bankruptcy G: The Special Case of Derivatives," Journal of Financial Crises: Vol. 1 : Iss. 1, 151-171.
Available at: https://elischolar.library.yale.edu/journal-of-financial-crises/vol1/iss1/8

Date Revised
2019-03-20

Download
2,804 DOWNLOADS

Since March 20, 2019

PlumX Metrics
Usage
Downloads:2795
Abstract Views:2247
Mentions
News Mentions:1
see details
Included in
Banking and Finance Law Commons, Bankruptcy Law Commons, Economic History Commons, Economic Policy Commons, Legal Studies Commons, Policy Design, Analysis, and Evaluation Commons

YPFS Home Page
Journal Home
About This Journal
Policies for Authors
Editors' Page
Submit Article
Most Popular Papers
Receive Email Notices or RSS
Select an issue:

All Issues
Search
Enter search terms:
Select context to search:

in this journal
Advanced Search

Who controls SOFR?
The New York Fed is the administrator of SOFR and produces the rate in cooperation with the Treasury Department's Office of Financial Research (OFR). The New York Fed publishes SOFR on a daily basis on its website at approximately 8:00 a.m. eastern time.Aug 27, 2023
https://www.newyorkfed.org › files
ARRC FAQs - Federal Reserve Bank of New York

[SwissCheeseAccount]

2025 earliest year for closing LBHI ch 11 case

[solgari]

What is your take on it?

[SwissCheeseAccount]

>>

IF! … If the upcoming distribution in October is at least 100 M or more, closing must follow.

Lol

[ron_66271]

The CT’s are Trust backed.

Trusts are not owned by the Parent, but offered by the parent or a sub of the Parent.

The Trusts don’t have a back obligation to the Parent.

It’s your money.

Just awaiting LIBOR Litigation resolution for the interest rates adjustments to cover the Derivative Market Meltdown claims.

The Series P of Lehman’s Performance Payment is the same as the Series R of WMI.
Backed by Trust Assets of the trust not the corporation.

Not a BK control assets.

LIBOR Litigation of CDS.



Ron

[Jimzin]

Prepare for the transition of LBHI into a Bitcoin commercial merchant bank…rising from the ashes like a phoenix 🐦‍🔥

I shall be named as the CEO since I first prophesied this in 2014!

What will be our business name?
Phoenix 🐦‍🔥 is perfect…

[toogoodfella]

RE: ONLY IF!…. LBHI will continue to exist as a going concern after CHAPTER ELEVEN is closed.

————//———-//————-

The total remaining asset subject to Chapter 11 is about 204M.

IF! … If the upcoming distribution in October is at least 100 M or more, closing must follow. The remaining asset will be allocated into expenses including taxes, reserve for disputed claims and operating expenses.

[toogoodfella]

RE: Any estimate per CT.

————//———

No estimate other than going back to market and interest payments if! ..

ONLY IF!…. LBHI will continue to exist as a going concern after CHAPTER ELEVEN is closed.

[Ray_137]

Any estimate per CT.

[toogoodfella]

FROM CASH FLOW ESTIMATES

Expected remaining recoveries is 144M
Estimated total of remaining asset is about 200M
Cash available is 99M

We just hope to see at least 100M distribution in October

[real777mellon]

They certainly will not run out of $ and will find plenty of pipes start gushing all the "pending" txn of a long time counterparty/repo related and derivatives problem that is not just Lehman's but also Fannie Freddie and the US Govt's fault this has taken such a trickle rate to get around to. Stay alive people. :)

[JJPK]

Epiq 11 Alert: Lehman Brothers Holdings . #61678 - Notice of Proposed Distribution / Notice of Twenty on 08/16/2024 http://dm.epiq11.com/case/LBH/dockets/61678?debtorId=1906 Reply STOP LBH to stop alerts from this case.

[Yukii]

Amen to that statement brother

[stoxjock]

I hope we won't have any more 'disributions' and LBHI re-instates the CTs in September...

[cottonisking]

🇱🇷until 15 December 2024, in any circumstances;🇱🇷

WITHOUT PREJUDICE
SUBJECT TO CONTRACT
20
and subject to the PLC Administrators’ rights for their costs and
expenses to be paid from the PLC estate.
7 Conditions: i. Entry into a reserve and reservation agreement between
GP1 and DB (the “Reserve and Reimbursement
Agreement”) regarding DB’s and GP1's ongoing and
historic legal costs and exposure to adverse costs.
ii. Each of:
a. Indications of approval of GP1 entering into the
Framework Agreement and Reserve and
Reimbursement Agreement by ECAPS Account
Holders constituting a majority of ECAPS in issue
of each of LP I, LP II, and LP III; and
b. GP1 circulating the Term Sheet to ECAPS Account
Holders (giving 14 days' clear notice of a deadline
for any comments or objections) before the start
of the hearing in the ECAPS 2 Proceedings listed
for 9-13 October 2023.
iii. Entry into the 7(f) Application Settlement (as defined
above).
8 Consent orders ECAPS 2 Consent Order: agreed form to be included in a schedule
to the Framework Agreement. All parties to sign the consent
order, and Hogan Lovells to apply or otherwise contact the Court
asking the Court to formally enter the order.
7(f) Consent Order: agreed form to be included as a schedule to
the 7(f) Application Settlement. GP1, PLC Administrators and the
other Individual Respondents to sign, and Charles Russell
Speechlys to apply or otherwise contact the Court asking the
Court to enter the order.
The ECAPS 2 Consent Order and 7(f) Consent Order each to
provide that each party to the relevant application(s) will bear its
own costs relating to the withdrawal of the relevant
application/issue(s).
9 Further assurance /
undertakings
🐎🦍🐎Successors: The Framework Agreement shall provide that:
i. GP1 shall not assign, transfer or dispose of its interest in
the PLC Sub-Notes;
ii. LBHI shall not assign, transfer or dispose of the PLC Sub-
Debt:
o 🇱🇷until 15 December 2024,🇱🇷 in any circumstances;
and
o after 15 December 2024, unless (i) the assignee
or transferee has agreed to be bound by the
terms of the Framework Agreement; and (ii) GP1
and DB (in the case of DB if it holds 10% or more

[real777mellon]

No he's right. It's the off-the-books LBHI LBIE accounting also the pending and failed txns pwc.co.uk/lehman mentions included almost 10K counterparties.

CDS is $5T mkt with derivatives much more than that. Just read this entire Examiners Report and focus on the Repo 105 section if you wanna validate yourself: https://www.jenner.com/en/news-insights/news/lehman-brothers-holdings-inc-chapter-11-proceedings-examiner-s-report

There's a lot out there "pending" and that's why we see LBIE ongoing. Please understand everyone has opinions half true and if not they're trying. But he is right even if he didn't explain. It's all there.

I hope you take this as help to understand the magnitude of what is stuck in the wire and off the books due to LBHI's accounting practices from the 2011 Examiners Report. Long report - but if u read it its worth it.

Good luck.

[cottonisking]

September 15, 2008 Bankruptcy Filed
September 15, 2009
September 15, 2010
December 6, 2011 Plan Confirmation
April 17, 2012 First Distribution
September 15, 2013
September 15, 2014
September 15, 2015
September 15, 2016
September 15, 2017
September 15, 2018
September 15, 2019
December 1, 2020 Plan Extension
September 15, 2021
September 15, 2022
September 15, 2023
September 15, 2024 Crazy World Now...

[toogoodfella]

I see continuous stupidity in this board.

[toogoodfella]

Re: Full Payment by The CDS Can Return Billion’s to Lehman’s.
—-//—-

New recovered asset? Then wait for another 15 years of distribution to satisfy the creditors. 130B still unpaid.

[real777mellon]

Well of course you do - why even get to SCOTUS?

Rossman is taking this back by August 18, 2024 to be done in the New York State courts where he can petition for appeals until he cannot anymore.

It will fix things faster :)

Since 2008 & 2011-present Mr. Rossman has been the 'Litigator of the 21st Century' IMO! He is a fun person to bet on and he makes pragmatic and chess like moves to win the most possible reward for his clients! LBIE v AGFP (appeal) - ongoing since 2011! #GO #QE and #LFGRossman !!! pic.twitter.com/wS8EUTgW2r

— Stankonia Capital #MAGA #MAHA #OperationAuroraNow (@StankoniaCap) August 11, 2024

Just taking another stab at the New York State Court of Appeals.

Beat them with the long game. I still feel somethings coming!

Quinn Emmanuel will pay out BIGLY and many capitalized and motivated folk lucky enough may start building things again.

[JERSEYHAWG]

I respectfully disagree.

I have my reasons.

[cottonisking]

🆘 🆘 🆘 Your Cash paydays Started in 2012!

ex·cuse
verb
3rd person present: excuses
/ik'skyo?oz,ek'skyo?oz/
1.
attempt to lessen the blame attaching to (a fault or offense); seek to defend or justify.
"he did nothing to hide or excuse Jacob's cruelty"
Similar:
justify
defend
make excuses for
make a case for
explain (away)
rationalize
condone
vindicate
warrant
mitigate
palliate
apologize for
forgive
overlook
disregard
ignore
pass over
turn a blind eye to
turn a deaf ear to
wink at
blink at
indulge
tolerate
sanction
extenuate
Opposite:
condemn
2.
release (someone) from a duty or requirement.
"it will not be possible to excuse you from jury duty"
Similar:
let off
release
relieve
exempt
spare
absolve
free
liberate
dispense
Opposite:
hold to
noun
plural noun: excuses
/ik'skyo?os,ek'skyo?os/
1.
a reason or explanation put forward to defend or justify a fault or offense.
"there can be no possible excuse for any further delay"
Similar:
justification
defense
reason
explanation
mitigating circumstances
mitigation
extenuation
palliation
vindication
grounds
cause
basis
call
argument
apology
apologia
plea
2.
informal
a poor or inadequate example of.
"that pathetic excuse for a man!"
Similar:
travesty of
apology for
poor specimen of
pitiful example of
mockery of
pale shadow of
poor imitation of

[real777mellon]

SCOTUS is on fire. It will certainly take this - and get the politicized socialist bs ruling overturned and the payout will be immense.

[ron_66271]

How Can There Be a LEGITIMATE Derivative Market?

If the counter party doesn’t pay up?

CDS Credit Market freeze 2.0 coming if the recipients of the 2008 losses are are not made whole!

Why/would I invested in a investment that doesn’t meet their obligations?

A dead market!



Ron

[ron_66271]

Full Payment by The CDS Can Return Billion’s to Lehman’s.

In the Washington Mutual stylized as ‘Globic’ case involving DB as the Trustee WM mortgage securities, the trusts losses were determined to be 11.9%.

By example using FDIC numbers;
WMB securitized $1.5 Trillion in RMBS, the securitizer is required to hold 15% of their offerings.

I’ve presented the numbers;
~$27 Billion minimum back to WMI Estate.

Yes, similar numbers for Lehman’s and F&F.

The Derivative Market needs to pay up!



Ron

[cottonisking]

Cripple-Toe should use these recently found coins in Turkey to solve their problems via good Foreign Policy Initiatives:

Researchers from the University of Michigan's Notion Archaeological Project have struck gold. The team of archeologists discovered a "hoard of gold coins" from the Persian Empire in western Turkey. The researchers announced the "very rare" find in a news release on Friday.2 days ago
https://www.cbsnews.com › news

Lehman Brothers goes Brain Dead around Presidential election time. So everyone must wait for December 2024.

[joyceschoice]

Cotton - A link is always helpful. Could someone please stickie this link as a board reference? Just in case our CaT's stay in quantum superposition is ever supremely determined.

https://www.scotusblog.com/case-files/emergency/emergency-docket-2023/