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RE: 2. Will they announce a going concern too?
—-//——//——
Payments for the deferred interest is immediate if LBHI decides to stay as a going concern. LBHI needs to get out of default completely.
Every CT holders will be happy.
ALMOST CERTAIN…
…That the 28th distro is the final.
But there is a remaining cash reserve for payments to be made to some creditors or affiliates.
The question is;
1. Will they announce the completion after the distributions right after the distro?
2. Will they announce a going concern too?
3. or announce a complete dissolution of LBHI?
Remember, LBHI is now broke and will need a fresh capital to stay as a going concern.
The only possible source of fresh capital are the creditors themselves (as I explained before) in order to stay as a Lehman despite of ownership change.
They are closer to the Wynn than me.
I am in Joisey. Remember.
Of course!!! You chose the main course! lol
Mexican; Italian; American?
You name it! I’ll research it (if need be?) and knock your socks off!!!
You bring Cheese, AZ, and yourself!!
je ne sais quoi; I can put together French cuisine also!!
Live life! Love life!!
You can cook in Vegas at the Wynn.
That will learn you to volunteer "chef"
do we benefit from the libor settlement? if yes, hopefully it comes after bankruptcy chapter is closed, so it just does not flow to senior creditors
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174171729
3,900 shares traded today!! lol
I had a weird day…. Lot of free time!!
600 shares LEHLQ - 200 earlier! And 400 before close….
3,300 shares LHHMQ- for the day! Earlier and later!
4Duxs… thanks for running the baton!
If we land this particular investment? I have an idea for a heritage farm in the south…. Having said that! If anyone on this board wants to engage in a meal?
Cooked/cheffed by myself… just let me know!!!
This summer is going to be spent divesting myself of a spent life… and focused on a more engaging beautiful soul….
Save my user name or my phone number (if you have it?)
Back to the shadows….
BB50 - legitimate last post
4Duxs hit this when you can!!
HAHAHAH Thanks for the CHEER's.
There was a recnet post about the User AKA Jimmy on this board.
I Second ... Here's to Mr Jimmy - for the effort he contributed to our slice of the Market,
the lives touched, and the legacy he leaves behind.
May IHUB LEHNQ board and his family hold him in our hearts and memories forever. Cheers to Mr Jimmy,
And JERSEYHAWG ...And if JH says it. I think we can all agree. He was a Hero.IMO
Does she look pretty? If so, of course...
Beside its Closing time 1:28PM In cali.
Hope we make some Moola and Visit.
A Change in mood.
When Subordinated Creditors' receive all of their cash, do not be an old gray man going around telling other Senior citizens', "I am rich and I do not need anymore cash money. Good luck suckers:"
1) LBHI2 2/9/2024 Distributions' Notice:
https://www.pwc.co.uk/services/business-restructuring/administrations/non-lbie-companies/lbhi2-limited-in-administration/dividends-to-creditors.html
2) LBH PLC 2/15/2024 Distributions' Notice:
https://www.pwc.co.uk/services/business-restructuring/administrations/non-lbie-companies/lbh-plc-in-administration/dividends-to-creditors.html
15.5 years × 12 months ÷ 14 months = 13.28 times greater than the typical bankruptcy
Where is the equity for subordinated Creditors' in this bankruptcy or project?
The Cost of Delayed Recovery
While the delays in reaching a resolution promoted recovery as asset prices improved, the delays also reduced the value of the amounts recovered. 👉️Payments made years after bankruptcy are necessarily worth less than more timely payments because of the time value of money. Moreover, creditors👉️ lost the liquidity value of their assets over the resolution period.
These costs are particularly high in Lehman’s case since the firm’s time in default is so far about 👉️eight times greater than the typical bankruptcy length of fourteen months. Indeed, soon after the bankruptcy filing, some creditors sold their claims to distressed-debt-investing hedge funds.
Thanks for the wonderful tribute to Jimmy a true AMERICAN HERO AS ARE MANY HERE are!
Is that the "Total Estimated Distribution' or is just the 'estimate' for this28th Distribution?
I hope it is the 'Total Estimated' for the Future recoveries, which hopefully would mean this 28th Distribution could be the FINAL Distribution. TIA, GLTU & GLTA!
Thanks Jersey for the Nice Remembrance Post...
May Jimmy's Soul be happy in Peace in Heaven...
Thx, that’s the way I’ve read your text. Closer, yet closer to finding out the big surprise. Like all of us I’m betting on a Phoenix rising.
Thx Jersey, Jimmy was always a fun post to read with his ending of having a Sinatra.
I’ll have a black manhattan and raise it as a toast to him tonight as well. Cheers
:::::: IN REMEMBERANCE ::::::
It's hard to believe but it's 3 years ago that one of our members, our friend Jimmy crossed the pond and left us for good.
So, in his honor, tonight sfter dinner, I will raise my glass and have a Sinatra for him. A toast to one of our crew. Who by the way, served his country by retiring from the U.S. Air Force after 25 years.
Who knows what the future holds for any of us. When God points his finger your run is over. I just wanted to make this reminder. Say my prayer and leave my words to us all.
I hope some of you will remember him along with me.
Thank you all for taking the time to read these words. Cheers.to Jimmy
RE: TooGood, at this point could some subsidiary be discovered to have more cash?
—-//——-//———
Estimated cash for distro is 320M
But there is a reserve of about 142M. (Taxes, operating expense, restricted unrestricted cash investments)
The remaining available for distro is about 178M
The April 4 distro is 176.7M
Creditor Recovery in Lehman’s Bankruptcy
Why is the current recovery rate nearly double that of Lehman’s initial estimate of 16 percent? The main reason is that prices of assets held by Lehman increased as the economy recovered during bankruptcy proceedings, especially for loans, real estate, and private equity investments. Also, some large-value disputed claims (for example, by certain derivatives counterparties and JPMorgan Chase) were decided by the court in Lehman’s favor, reducing the amount of allowed claims.
The Cost of Delayed Recovery
While the delays in reaching a resolution promoted recovery as asset prices improved, the delays also reduced the value of the amounts recovered. 👉️Payments made years after bankruptcy are necessarily worth less than more timely payments because of the time value of money. Moreover, creditors👉️ lost the liquidity value of their assets over the resolution period. These costs are particularly high in Lehman’s case since the firm’s time in default is so far about eight times greater than the typical bankruptcy length of fourteen months. Indeed, soon after the bankruptcy filing, some creditors sold their claims to distressed-debt-investing hedge funds.
To account for delays, we estimate the present value of the recovery to creditors as of September 15, 2008, as the discounted value of the actual distributions. Our discount rate is either the 👉️Treasury yield or a👉️ corporate bond yield, both with maturity equal to the time difference between the actual distribution date and September 15, 2008. Treasury yields account for the time value of money, but underestimate the true discount rate since they ignore the liquidity premium.👉️ Corporate bond yields include a liquidity premium, albeit one that is likely too small (because corporate bonds are more liquid than bankruptcy claims), but also a credit-risk premium. The difference between corporate bond yields and Treasury yields is thus a rough estimate of the liquidity premium, which may be somewhat high or low.
We find the present value of recovery for third-party creditors as $80 billion👉️ using Treasury yields and $65 billion using corporate bond yields, as compared to the $94 billion nominal value of the sixteen distributions (see chart below). The $14 billion difference between $94 billion and $80 billion measures the time value of money and the $15 billion difference between $80 billion and $65 billion represents the lost liquidity value. Adjusted for these factors, the recovery rate declines to between 21 percent and 26 percent (see the chart above)
266 KQ and 1,000 MQ
TooGood, at this point could some subsidiary be discovered to have more cash? The point you’ve discussed in the last few quarters states a declining amount to be retributed to creditors. If we get that to zero, no additional cash owed should be discovered? It sounds like that and we’re getting close.
We can all toss our thoughts out there. And I appreciate everyone posting.
Our combined main goal is seeing it finish.
It would also be great if we reap a monetary reward. It's a hope.
for what it's worth, the best i remember, lehman.com was renewed on yearly basis , but last year they renewed for 2 years till 2025 meaning hope. may mean nothing but just throwing out there.
I KNOW EXACTLY what I bought. A bankrupt company stock.
IT JUST A BK PLAY. NOTHING MORE.
I don't need this money, it's a game. Like gambling, a game.
My gawd.where is your mind at?
LOLOL, after all these years. The head that's to big for a hat. Wrap your head around it 2g. For one day we will meet at the shindig.
Cheers!!!
Instead of just listening to coach tequila, you should know what you have bought.
Stupidity for fifteen years and still don’t know the magnitude of the largest bankruptcy in history.. Lower level of thinking on how corporate lawyers work. How they get into such level, Undermining the board of directors.. all the executives, Why it took fifteen years. And.. BANKRUPTCY COURT.
Imho.
I doubt it. On that lawyer angle. They have been milking this for 14 years. Eventually it must end. Everything does.
I roll with 2 good on this one. And I hope it is the last distribution.
Stop wining. No one will try to delay a business.
i doubt it, the lawyers will want to milk it till $1 is left. the most corrupt ones.
MAYBE:
There is only about 165 M on February MOR. We will not see the March MOR until the end of April but obviously, some additional money came in on March for LBHI to distribute the 176 M. It means the money is even more because there should be some reserves for operating expenses, taxes, and some reserves for disputed claims.
This maybe the last distro.
REPOST:
THE 28th DISTRO
WILL BE 176M
IT MAYBE THE FINAL FOLKS
That all sounds toogood for me fella.
200 N’s today.
Cheers
15 dragging years is a long dang’ time to watch everyone get paid except us :) lol!! I swear this would have ended back in 2012 (IF) we retailers hadn’t bought up all the CTs & Preferred shares. I honestly believe they dragged this out to have time to cover their short positions as we sell (or) our positions got abandoned due to death, brokerage changes, forgotten, stolen ect. They made that POR amendment to “satisfied in full” and managed to avoid BK exit via Administrative Court Protection and paid elite creditors over 100% of their claim with back interest! The Euro surplus even paid back (currency exchange differences) as well as monies lost if the bk hadn’t happened lmao ;) like wtf’! Yes the judges were/are puppets with their marching orders, which allowed senseless delays of petty squabbles to drag this out at their discretion. I don’t know/care if the shorts covered , but it seems we’re finally entering the final lap to the Checkerd flag! Regardless of the crooked institutions~ I’m proud of all of us being a thorn in their side to STILL be here with positions in tact. Lmao a bunch of retailers went against the propaganda that “Lehman is broke broke and broke” LEHMAN LOTTO and now the big boys have to make a seat for us in a world class top tier investment bank~ we weren’t suppose to be here y’all!! Cheers and congratulations is all I can say haha!! Go Lehman… I no longer have that 1.8m Js thank goodness, but enough to retire without that target being on my back especially with “Real” mentioning the cia involvement lol!
Interesting...
sound s familiar
2.66 Million. At par... but...which at the momment par is Zero. LOL
good luck to you who are a good and intelligent person
Blackdirt and Finky can go eat Seashells on a desert Isle. That guy only wants to print Currency for himself and his NY Mob. IMO
Well ...Very ODD though. It seems the Amount got actually larger, Well isn't that a curve ball.
Total Avg recovery .3159 or 31.6 Percent, Not Bad...IMO
I bet. Just wait our turn.
Total Value Destruction in Lehman’s Chapter 11 Bankruptcy
Our estimate of the value destruction from the Lehman bankruptcy is substantial, although some losses were likely due to economic distress, or represented value transfers to other parties. In particular, we estimate value destruction to be on the order of $46 billion to $63 billion, or 👉️between 15 percent and 21 percent of Lehman’s pre-bankruptcy consolidated assets. These estimates exclude fees and expenses from the SIPA proceedings, which are an additional $1.4 billion, and the costs of resolving Lehman’s subsidiaries outside of U.S. legal jurisdictions.
Recovery Rates for Different Creditors
The recovery rates of Lehman’s various affiliates also improved over time, although there was substantial variation. Creditors of most of Lehman’s derivative entities (Lehman Brothers Commodity Services (LBCC) and Lehman Brothers OTC Derivatives (LOTC) in chart below) recovered 100 percent of their claims, as 👉️most of these affiliates had positive net worth at the time of bankruptcy. One exception is Lehman’s largest derivatives entity Lehman Brothers Special Financing (LBSF). Its creditors received just 40 percent of their claims because in part, under Lehman’s liquidation plan, their claims were reduced in favor of unsecured counterparties of the holding company LBHI. In contrast, general unsecured creditors of LBHI benefited from the liquidation plan, as their recovery rate improved from just 6 percent initially to 45 percent after the sixteenth distribution.
To facilitate comparisons with other bankruptcies, we express Lehman’s Chapter 11 expenses as a share of the book value of assets (equal to👉️ $298 billion) held by Lehman and its affiliates, as of the bankruptcy filing date of each entity. For the SIPA resolution, we use the total value of customer claims at the start of the resolution process. The table below reports these shares.
.
.
.
Thus, in comparison with previous Chapter 11 bankruptcies, Lehman’s professional fees were in line with historical norms while its total expenses were toward the lower range of historical values. However, Lehman’s pre-bankruptcy assets were almost👉️ $300 billion while sample firms in the studies had assets of less than $700 million. As most studies show a negative relation between the expense ratio and asset size, we might expect that Lehman’s expense ratio should fall toward, or even below, the lower range of historical values..
usual meaningless answe
Cheers to that result.
Let's see how it falls.
Either we get paid or we don't.... simple as that.
Couldn't be more simple than that.
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IPO - 1/7/2005 - 8.00 Million Shares @ $25.00/share.
Previous Ticker Symbol: LEH-N Changed: 9/17/08
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