Lehman Brothers Financial SA (LEHNQ)

[real777mellon]

I know for fact because of the structure and operations of the company under LBHI and that very much includes the UK administration subsidiaries. So PLEASE - enough spam and enough of your BULLSHIT self-decided conclusion that the UK Admin reports don't matter to these securities!!!!

[real777mellon]

No one - I just believe it's wrong to misinform investors because you haven't read the entire twisted Examiners report and if you did you would know that Cotton is reporting a structure that should at least be obvious to you in the LBH PLC Tier X disbursement that LBHI just got 15m GBP from LBH PLC's Administration this past month! It all is relevant, and I can't argue with you about it here and convince you - but you could just realize that cotton reporting LBIE LBH PLC etc is 100% connected to LBHI's PT distributions and exit from CH 11. Please I hate to delete posts but just brush up on it or don't. But do not state what I am honestly telling you is not true. I am trying to help you too to understand how complex and intertwined Lehman's global intercompany claims against its subsidiaries and frozen or "off the books" incompleted Repo105 return of assets to the LBIE and then back on the LBHI consolidated balance sheet in its SEC reports. These are too complicated to argue. I just can't let you be so subjective on the claims you're making because it's not true. Cotton is reporting relevant JA progress reports from the UK that is relevant to these securities which LBHI owns 100% of common stock of all 4 LBHCT PFD shs.

[toogoodfella]

How about me also thinking 100 percent correct???

[toogoodfella]

Just because you think you are 100 percent correct??

[toogoodfella]

I did not offend anyone. And you removed it. Is that fair??

[toogoodfella]

Who’s paying you to remove it??

[real777mellon]

Yes because I am 100% correct as I have read the entirety of the documents I suggested you read too. So don't keep proclaiming what is not true.

[toogoodfella]

That is why my posts are removed.

[real777mellon]

Note: Any false information posting that the LBIE and LBH PLC administration is nothing to do with the LBHI CH 11 bankruptcy and exiting from it in order for LBHI to be allowed to resume operations and thru the property trustee write subordinated debentures + pay suspended cash distributions to PFD shareholders owed every Q since Q3 2008 + stat interest will be removed for misleading and untrue information. You can disagree with things, but do not mislead people saying that cotton or anyone's updates on the JA progress reports do not pertain to this particular securities Class 10B in CH 11 of LBHI PT. I will not argue or ask nicely anymore.

[toogoodfella]

Re: Cotton is reporting important and necessary

—-//——//—

Cotton is cutting and posting irrelevant topics for fifteen years!!’

[toogoodfella]

You’re making your own conclusion on Repo. Just read and comprehend the quarterly report.

[toogoodfella]

Re: You need to read the entire Repo 10..

No need.. waste of time .. it’s irrelevant to LBHI distribution of asset.

Read the quarterly report. It is so clear 19 million from LBH LPC just came in but excluded. And if you know your second grade math, you can trace where it went on the table. IT IS NOT INCLUDED IN THE DISTRIBUTION OF ASSET.

[real777mellon]

Don't be surprised though. Just keep paying attention.
One must really read all 336 pages about Repo 105 from the examiner in 2011 to understand the "off the books" part and the LBI > LBIE >> Counterparty and SFAS 140, Linkletters (UK major legal firm opinion on Rep 105 being a "true sale" and not a regular repo txn accounting wise) and then the mystery of the unknown- yet also why they did it, why the valuation disputes exist, and why sometimes we've heard that creditor claims were met with surplus bc the SIPC for example or even LBH PLC "found more $" to distribute each time they made a payout. Found where? "off the books"?? Like Repo 105 allowed if done thru US assets first transf from LBI or LBSF to LBIE and then sold to a counterparty for 7-10 days before LBIE would repurchase what they sold but also during that period the off the books at LBHI and LBI bc unlike a repo once LBIE the UK broker dealer LBHI subsid. sold to a counterparty - they relinquished full control of the assets > even tho a time period would see LBIE repurch the assets. They then appeared back on the books for LBIE and could transfer back to the books they came from in the US.

Just don't be shocked. This is most likely not going to end when the deadline's are made. It's gonna "shock the world"...

We already know enough to be here waiting.

[real777mellon]

You need to read the entire Repo 105 and accounting / business structure and consolidated nature of LBIE rolled into LBHI's reports etc etc.

This is not how it all works. Quite frankly you're just like any one else - Lehman Brothers is a tricky ass undwind to understand.

When it comes to our assets, all of the things cotton is reporting concerning PwC UK JA reports are most certainly tied to the CH 11 of LBHI and you could know that just from realizing LBHI is being paid out in the Tier X and Tier Y LBH PLC distributions.

What it is - is one big thing, eventually consolidated back to LBHI and there are quite possibly a Repo 105 or two tx that are "off the books" but will appear in sums of 50B or more $ in an Agency MBS or even a US Treasury bond(S).

Please just read the Examiner report I linked to. You don't understand the way LBHI did it's accounting and how it plays a role but how its UK Administration and LBIE v AGFP legal battle are also critical in the current LBHI frozen CH 11 state. Please just stop claiming cotton is wrong. Those PwC UK progress reports are immensely important for your Trust PFD Shares we all hold.

[real777mellon]

Knock it off. See my one reply and then read the entire 336 page repo 105 report. Do not post these things they are not true from an accounting or organizational structure standpoint. I know because I read the entire Examiner report how LBHI and LBIE LBI LBH PLC and all goddamn subsidiaries operated and why they are important to do in such an order that they do matter here. Very much.

[real777mellon]

Please stop with this nonsense. I explained nicely, you're not in any way correct.

Cotton is reporting important and necessary consolidated parts of LBHI which is important for LBHI to exit CH 11 and for paying our 4 DST issued capital trust PFD shares.

[real777mellon]

It is actually for LBHI's 100% owned common stock of each Delaware Statutory Trust (Issuer of the PFD shares of the four tickers associated with LEHNQ being the board we discuss all four on).

And LBH PLC owes LBHI money. LBHI having money means it can pay thru the property trustee or directly to PFD shareholders what it owes in 1) cash distributions suspended since Q3 2008, statutory interest for late cash distributions quarterly since 2008, and even directly if the shares delist to pay at least $25 liquidation amt per share).

LBIE also matters here. It's run as a consolidated part of the LBHI balance sheet and all quarterly and yearly filings in the US to the SEC.

Thus the nature and structure of the organization matters. Posting about the PwC UK admin of LBH PLC and LBIE is most CERTAINLY 100% warranted and important.

Please don't argue these things unless you've read at least the 2011 Examiner Report on LBHI's accounting, business inter-company operations, and how consolidated LBIE broker-dealer and books are reported in LBHI's report in the US.

https://www.jenner.com/a/web/obFa233r8auoB6xdtZXE7C/4k1Wwn/VOLUME%203.pdf

Maybe if you read that, or you just understand LBH PLC paid Tier X partially to LBHI and Tier Y will also pay money to LBHI you would understand cotton's more aware of the progression of the CH 11 depending on the way the business is structured and how it's operations were performed.

[real777mellon]

This is a great post. I agree with you too. So what I think we also need to factor in after I read the Examiner full 336 page report on Repo105 from 2011 (yes I went deep) - the fact Lehman was everyone's counterparty or rather a global intermediary with a lot of different trades in Agency MBS, Treasuries, and CMBS and had an illiquid asset problem since late 2007 into the CH 11 in Q3 2008 - a lot of disputes were already coming due to the fact Lehman was hiding their Repo 105 operation from it's quarterly LBHI filings although in a way that followed both Linklaters (a main major legal firm in London) that allowed the Repo 105 to run thru LBIE as a "sale" and not a true repo txn, The US not offering any opinion on if Repo 105 was allowed or not when they asked the FASB (i believe) and when doing this txn where "off the books" US-based assets were sold off the LBI books by moving them via transfer to LBIE (which is rolled up in LBHI reports and consolidated with all other Lehman subsidiaries) then LBIE would "sell" to a counterparty that would buy these illiquid assets (RMBS, CMBS, maybe CRE itself) that LB's didnt want to sell at a loss and for 7-10 days the counterparty would hold these assets with LBIE "buying" them back but also in the 7-10 period the cash LBHI got the instant LBIE sold these assets to counterparties - they would pay down liabilities and also not have any cash either on their asset side of the books. The report would then look like LBHI had reduced it's leverage on its balance sheet and then after 7-10 days and a report where the credit rating agencies looked at the deleveraging as a positive (so not downgrading their credit) - LBHI's books would take back on the assets that disappeared off the books, qualified as "true sale" under a SFAS 140 rule that the asset had to be investment grade - so perhaps only the Agency MBS and Treasuries would be off the books and thru the UK where linklaters gave the opinion to legalize thru LBIE broker dealer and also called this action a "sale" and not a repo - Lehman avoided credit ratings agency downgrades for a longer period than not especially after the Bear Stearns Companies being bailed out and given a sweet deal to JPMC - the balance sheets of Lehman began to be questioned as people couldn't figure out how they were reducing leverage on their balance sheet. They also used the FAS 157 mark to market FASB implimentation for valuing illiquid assets to "mark" their illiquid assets higher than their clearing houses/cp's for repo txns and daily operating money used for LBHI's LBIE LBIE and other global broker dealers dialy. I think that the solution is that some repo105 repurchase of assets either Agency MBS or UST in a value of $50B+ that was generally what repo105 was used to move off the books from the final hours in 2008 might be in between already being repurchased by LBIE from the counterparty and appearing on the books again at LBIE and thus consolidated into an LBHI report being somehow stucks since Sep 15 2008. Or not yet "cleared" by one of the repo105 UK clearing banks or even a US/EU bank. It's impossible to know. But I think that they didn't pay CDS specifically for AGFP when the situation turned to favor Lehman's (LBIE) 28 CDS agreements and bw $465-$5.7B there's something that is missing in Lehman's secretive and now publicly reported by the Examiner in 2011 (esp in repo105) that maybe solve how to value the illiquid CMBS, CRE, RMBS, and other assets that no one claimed they could value based on the market by the time Lehman was due to be paid by AGFP in 2009.

I know that's a lot I just wrote but I think surely there's a lot of public info, and a lot of legal procedures going on that will shape the entire future and not only recover our money for holding these 4 DST issued Trust PFD shares - but also for the fate of ISDA agreements. Right now, if the appeal wasn't filed for the first appeal upholding the subjective valuation done by AGFP and not via the ISDA 1992 swap agreement the two parties entered into in 2005 - then ANY CDS seller can use this case as precedent to reneg on the ISDA and just not pay a dime for a CDS buyer and premiums paid by the buyer and essentially just make CDS (derivatives contracts) a place where the seller of the insurance can just scam anyone in the end. We can't lose the case LBIE v AGFP because it would wreck the entire ISDA swaps agreement contracts between parties and also render it irrelevant bc if the seller of CDS was triggered to pay up in a market shift - they just can say well LBIE v AGFP upheld in favor of AGFP and their subjective non ISDA methodology to value the position and the payout to their CDS buyer and the CDS seller gets to keep the premiums you paid, owes you nothing, and wants $20 million from you.

That just cannot happen. Somethings going on here. It's fishy. But I think it ends well.

I think Repo105 ties into the fact that the AGFP dispute by LBIE is not finished yet but LBIE will win. Quinn Emmanuel is the most feared opposition firm by all legal firms in NYC for the 5th year straight. They claw and claw and win a lot. I am confident this is a planned process a drip drip drip

I read all of this, that money could be off the books for whatever reason due to the CH 11 and 2 UK administrations esp LBIE happeing just before CH 11 was filed early Monday Sep 15 2008 EST: https://www.jenner.com/a/web/obFa233r8auoB6xdtZXE7C/4k1Wwn/VOLUME%203.pdf

[cottonisking]

Y'all got me losing my future earnings. What is the present value of my age? When you receive cash from LBHI's Bankruptcy, that cash goes back home and brings its' friends to live in your bank accounts:

Wealth
John Paulson’s ‘Money Machine’ Is Still in the Red After 2023’s Big Gains
His Advantage fund returned 28%, Special Situations was up 32%
Last year’s profits still not enough to offset earlier losses

John Paulson Source: Bloomberg Television
By Tom Maloney
April 16, 2024 at 8:16 AM CDT

Save
A rebound at John Paulson’s family office boosted returns last year but it still wasn’t enough to keep the billionaire investor from having to play catch-up.

Funds at Paulson & Co. gained as much as 32% in 2023, according to a person with knowledge of the returns, who asked not to be identified because the information is private. The results were partly driven by investments in Greek bank Piraeus Financial Holdings SA, pharmaceutical firm Bausch Health Cos. and miners Agnico Eagle Mines Ltd. and International Tower Hill Mines

[cottonisking]

🤣🤑🤣

2.2 Creditor claims and dividend
prospects
Unsubordinated creditors
As creditors are aware from previous reports and prior to the Reporting Period:
? dividends totalling approximately £1,074.8m (100p in the £) had been paid on admitted, unsecured,
unsubordinated claims; and
? further distributions of £354.1m had been paid in relation to admitted, unsecured, unsubordinated creditors'
statutory interest entitlements.
As a result of the Framework Agreement and the conclusion of the Priority Litigation, the Administrators were able to
make further dividend payments to LBH’s unsubordinated creditors. In the Reporting Period, the Administrators paid
their eighth and ninth interim dividends to unsubordinated creditors of £24.4m and £33.0m respectively, as set out
below:
? Eighth interim distribution: On 28 November 2023, a dividend was paid to certain unsubordinated creditors
being LBIE (£14.6m), Thayer (£6.0m) and ESH (£3.8m). Payments to LBIE and Thayer were final
distributions with no further amounts being owed to those estates. In respect of ESH, further amounts (of
up to £9m) may be due to it depending on the outcome of the Partial Discharge Issue.
? As part of the eighth interim distribution, PAMI/LBHI, LBL and MBAM agreed to defer receipt of their
unsubordinated statutory interest on this occasion to allow LBH to pay (i) the other unsubordinated
creditors and (ii) Tier X (in full) - see below.
? Ninth interim distribution: A dividend of £33.0m was paid to LBHI on 11 March 2024.
? As part of the ninth interim distribution, LBL and MBAM agreed to defer receipt of their unsubordinated
statutory interest on this occasion to allow LBH to pay LBHI in respect of its unsubordinated
post-administration statutory interest entitlement.
Based on current information, the Administrators are of the view that there will ultimately be sufficient realisations to
allow unsubordinated creditors’ remaining entitlements to post-administration statutory interest to be paid in full.
Subordinated creditors and the Framework Agreement
The claim from LBGP in respect of the PLC Sub-Notes has now been agreed and admitted at c.£187.2m. This is
after discounting in accordance with IR16 and in line with the outcome of the Priority Litigation, as detailed in
previous progress reports. 👉️The claim from LBHI (in respect of the PLC Sub-Debt) totals c.£1,059.0m.👈️
The Framework Agreement, which became effective on 8 October 2023, sets out a structure under which LBH will
make payments to LBGP and LBHI of funds available for subordinated creditors. These payments are governed by
a specific sharing formula, summarised below:
Tier X - first available funds of £187.2m:
In the Period, the first £187.2m of funds available for the subordinated creditors was paid, as set out below:
? On 24 November 2023, 92% of Tier X (being £172.2m) was paid to LBGP.
? On 29 December 2023, 👉️the remaining 8% of Tier X (being £15.0m) was paid to LBHI.
As a consequence of the above, Tier X has been paid in full.
Tier Y - next available funds of up to £225.0m:
Distributions under Tier Y can only take place once:
? Tier X funds have been distributed in full (which is now the case);
? There has been a final adjudication or settlement of Priority Legal Issue 1; and
? The unsubordinated creditors’ remaining entitlement to post-administration statutory interest has been
satisfied in full, if necessary adjusted for the resolution of the Partial Discharge Issue.
11 Administrators’ progress report from 15 September 2023 to 14 March 2024

[toogoodfella]

YOUR POST DOES NOT BELONG HERE. THIS IS NOT FOR LBH LPC, NEITHER FOR LBHIE. THIS IS FOR LBHI, The mother company bankruptcy. YOUR POST IS IRRELEVANT.

[cottonisking]

Keep 'Yelling' at her...until Janet comes back home. Sanction herself?

Our tax team continues to liaise with the IRS regarding payment of the refund. The necessary documentation to enable
repayment has been signed by LBIE. 👉️LBIE is unable to influence the timing of the refund payment.

Source: LBIE's 31st Progress Report

Dictionary
Definitions from Oxford Languages · Learn more
yell
verb
gerund or present participle: yelling
give a loud, sharp cry.
"you heard me yelling at her"
Similar:
cry out
call out call at the top of one's voice
yelp
shout
howl
yowl
wail
scream
shriek
screech
squawk
squeal
bay
roar
bawl
yawp
whoop
caterwaul
holler
ululate
Opposite:
whisper
murmur

[toogoodfella]

Correction:

OR else, December 6, 2025

[toogoodfella]

“LBH PLC .. EXCLUDED RECOVERY”
Not included in the final distribution of LBHI.

Don’t be stubborn.. look at page nine of December 31 quarterly report. It is also indicated in the cash flow table. But unfortunately, it seems no one in this board knows how to read those numbers.

[ron_66271]

Real777. I Shared This Post on COOP and FNMA.

If the CDS insurers paid for the ABS(MBS, RMBS, REITs, and other) losses as required by the derivative contracts.

Then WMI/WMB, Lehman’s, and F&F would all be completely solvent.

Few understand that the Credit Crisis of 2008 was that the derivative insurance contract writer’s couldn’t cover as an unregulated insurance company.

For the Mortgage market Securitized Trusts created by the likes of WMB, the banks exposure went to zero because the derivatives covered the losses.

The Derivative Market of 2008 was $83 Trillion of which JPM wrote 57% of the total contracts.

Housing; $13 Trillion (source: US Treasury).
Now most of the mortgages where in notes.

By example;
JPM’s posable exposure to the insured mortgage market loss of 10%;
$13,000B x 10% x 57% = $741 Billion.

JPM was already underwater.
TEIR 1 of only 3.5 according to JPM’s own 2008 10K. WMB was 7.8 from the same filing.

I mostly post the COOP MB.



Ron

[toogoodfella]

LBIE ECAPS CASE IS IRRELEVANT TO THE FINAL DISTRIBUTION OF LBHI ASSET

[toogoodfella]

Excerpt:

SECTION 7.1(a) OF THE PLAN TRUST AGREEMENT (THE “PLAN TRUST AMENDMENT”) TO PROVIDE THAT THE PLAN TRUST SHALL TERMINATE ON THE EARLIER OF: (I) THIRTY (30) DAYS AFTER THE FINAL DISTRIBUTION OF ALL OF THE STOCK DISTRIBUTIONS IN ACCORDANCE WITH THE TERMS OF THE TRUST AGREEMENT, THE PLAN AND THE CONFIRMATION ORDER AND THE CANCELLATION OF THE PLAN TRUST STOCK AND (II) DECEMBER 6, 2025.

—-///—//——

“THIRTY DAYS AFTER THE FINAL DISTRIBUTION”

OR else, December 6, 2026.

[Jimzin]

Git r done! Someday!

[SwissCheeseAccount]

Told yall 2025 lol

[real777mellon]

Thank you!

[cottonisking]

Solve the problem from the bottom up. All of LBHI's Senior Creditors' are 99.9% satisfied in full. Review the remaining percentage payouts.

Cheers

[real777mellon]

I am having trouble finding the Classes of each LBHI creditor and the % they have been paid thru LBHI PT 28th distribution It took place 4 April 2024. Do you have anything besides the 28 March 2024 notice I could see the updated classes and their distributions/claims %?

[solgari]

Thank you!

[cottonisking]

All of the Lehman Group Senior Creditors' received 99.9% or 100% of their cash ($250 Billion plus) from the Lehman Brothers' Bankruptcies, then the car has a $500 million flat tire and they lose or delay the race for years and years. The CTs Holders' want their cash now! Damn Shame

Other potential recoveries
As set out in our previous reports, the Internal Revenue Service (“IRS”) approved LBIE's request for treaty benefits
through the competent authority process in August 2021 allowing recovery of taxes. Tax returns were filed with the IRS in
Q4 2021.
Our tax team continues to liaise with the IRS regarding payment of the refund. The necessary documentation to enable
repayment has been signed by LBIE. 👉️LBIE is unable to influence the timing of the refund payment.
As advised in the last report, LBIE has a claim in an overseas liquidation. LBIE continues to be a member of the
Liquidation Committee, however no further recoveries are expected in the near future.
The Administrators have also continued to pursue a potential recovery relating to a 50% holding of a claim in an overseas
bankruptcy. Due to the nature of the bankruptcy, any potential recovery could be minimal and is likely to take a significant
amount of time. The Administrators have very limited access to information following a decision by the Trustee in
bankruptcy that all information and documents relating to the bankruptcy process be treated as confidential and not be
shared with creditors. LBIE and a number of other creditors challenged that decision and on 27 September 2023, the court
ruled in favour of the creditors. The Trustee immediately challenged that decision. Dialogue continues to try and obtain
further information and clarity in relation to the confidentiality order, the estate and potential realisations.
Tax
Our tax team has continued to carefully manage LBIE’s tax position, filing and submitting the tax return for the year ended
14 September 2022 and working on the preparation of the tax return for the year ended 14 September 2023.
The Administrators have met their obligations under the Senior Accounting Officer (“SAO”) legislation and submitted their
2023 certification and notification. They have complied with their obligations regarding the Lehman group 👉️Tax Strategy
published for the period ended 30 November 2023 and adhered to the UK and US Foreign Account Tax Compliance Act
and Common Reporting Standards.
Tax reserves have also been reviewed and adjusted as appropriate.

Source: LBIE's 31st Progress Report

[real777mellon]

My partner in our LLC is a Canadian perm resident. Unfortunately I believe you cannot without perm residence or citizenship. Maybe see if you can set up a Canadian corp similar to how people set up Wyoming LLC to open bank and brokerage accounts in the USA? Remember, so long as it's legal - you have a right to access markets just like foreigners do in the US banking and brokerage institutions. :)

[solgari]

Can us citizen open a canadian stock investment account?

[real777mellon]

seems like vol picked up a bit since it was dead in Nov Dec Jan. That's interesting - also filling thru Canadian retail brokers was seemingly impossible. They prob wouldn't fill me if I had bids in. I quit trying to buy more in Nov - October thank god was amazing. 4,000 shares filling at a time good liquidity then just vanished.

[4Duxs]

2550 KQ’s; 200 MQ’s. Somebody can buy some……..

[real777mellon]

About LBIE v AGFP appeal - the plaintiff's case winning it's appeal of the upheld ruling by the Appeals Court - First Division in NY is important for the entire future of derivatives and ISDA swap agreements - here's my take. Lehman HAS to win, or the future of ISDA swap agreement contracts will be either pointless and at worst cause rampant legalized precedent of CDS dealers to scam their counterparty in the event the CDS need be paid out when the market has shifted (as it did in 2008). Imagine paying your insurance premiums for years and when it came time to cover the cost of your burnt down house the insurance company could legally say you actually owed THEM money and statutory interest for each day you refused, while leaving you with $0 to repair or build your new house. Exactly what this case is about:

The ruling in favor of AGFP would make the entire ISDA swap agreements process in the future pointless should another CDS seller once the CDS position was valuable enough like Lehman's in 2008-09 the seller could just subjectively say they don't owe the agreed upon $$$ at the time of the agreement (for Lehman it was 2005) and thus, why would any ISDA agreement be made where paying premiums to a CDS seller for years could just be thrown out when the CDS seller is liable to pay out the purchasing party (like Lehman)?

Lehman's lawyers are smart in arguing that this type of ruling for AGFP would create a precident in court for any CDS seller to reneg on ISDA agreements when they became liable to payout the purchasing party of their swaps and then have their bogus and subjective valuation of the position be upheld if the purchasing party of CDS took an AGFP-like party to court for violating the agreed terms of the ISDA agreement they made when entering the agreement.

Not that hard to understand. If this is upheld in court, any CDS seller can reneg on the ISDA swap agreement terms and valuation methods to payout/or demand $ (like AGFP) leaving the CDS purchasing party S.O.L. and basically allowing ISDA agreements to become pointless. Obviously this is a problem because this ruling being upheld would allow anyone else to use this as a precedent to rip off any CDS buying party that entered into and ISDA swap agreement with a CDS selller. Which is, simply put, a catastrophic problem that encourages ripping off any institution buying CDS.

[real777mellon]

Looks like we got the appeal filed by LBIE's lawyer Andrew Rossman of the #1 ranked/most feared firm Quinn Emmanuel from 4/15/2024:

" NOTICE OF MOTION W/SUPPORTING DOCUMENTS INCLUDING EXHIBIT(S) (Motion #1919) *Corrected*[
Notice of Motion for Leave to Reargue or Appeal w/ Supporting Documents Including Exhibit(s)"

(total size of the PDF filed 4/15/24 is a whopping 82 pages - there's 26 new pages for the appeal proposed to be heard May 6, 2024 or for the review of the Appellate Court to rule in favor of the plaintiff. Appears these 26 pages are the supporting documents and the exhibits are the first two court rulings from 3/14/24 and 6/30/23 (NYC Supreme Court's first decision in favor of AGFP after 12 years of that case in court!)
.
Interesting to note, Quinn Emmanuel- despite being the most feared law firm by lawyers on the other side of the case for 5 years straight and basically being the best you could ask to represent us ("LBIE") has added another law firm and 2 more lawyers from DORF NELSON & ZAUDERER LLP on this motion to appeal. Whatever the case I sure do love the way Quinn Emmanuel is not giving up on LBIE's case as Lehman has a right to be paid the $$$ owed under the ISDA 1992 swap agreement contract rules having paid all premiums to AGFP and never being paid out for their CDS position when shit hit the fan in 2008/09. This is a good thing. Common sense has to prevail eventually with AGFP's non ISDA 1992 swap agreement compliant "alternative valuation" for Lehman's CDS' payout... One would think. Which is why Quinn Emmanuel and the lead lawyer Andrew Rossman who filed this motion on 4/15/24 would be going so relentlessly at getting this win. Seems necessary to come out of the CH 11 regardless since it's a good 500-7 Billion in possible fudging of CDS payouts Lehman was actually owed that never came while AGFP as a subsidiary of Assured Guaranty Ltd both continue their businesses to this day.

SRC: https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=0uV5biQmdfK3n7Dyhow9zg==
Entire Appellate Court documentation: https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=nBhmPgrlziYnQ3JvgTtW2A==&display=all

Looks like the 12 April 2024 31st progress report on both LBIE (and mentioned in LBH PLC's 31st progress report on the same date) was correct that the decision in favor of AGFP being upheld on 3/14/24 by the Court of Appeals - First Division in NYC would have a motion to appeal filed by Rossman and Quinn Emmanuel on behalf of LBIE in an attempt to win this case. Good to see so fast:

From 12 April 2024 PwC UK 31st report on (LBIE) for 15 Sep 23 to 15 Mar 23:
[Page 4]

[real777mellon]

The more time, the more the reward for having the intelligence to hold and snap up shares in the first place. This is the biggest most complete bankruptcy (and the most absurd and possibly mandated) in history. Patience. Do you wish you bought ECAPS? I do wish that I bought in 2016. I still consider the TruPS (4 tickers) worth more in the end.

[real777mellon]

Please elaborate on:

What is the Appellate Division specifically? I thought the last court decision WAS the Court of Appeals/Appellate court?

What case would the next court be heard in if granted an appeal?

2. Why do you think the court case is bigger than the LBHI bankruptcy? 500M USD is a drop in the bucket compared to the amount of cash LBHI has left to distribute to people, namely us.

[mates]

when, when? next year? don't get too excited, on another hand I already see how we riding horses along Colorado river, would be the great an adventure. We can go all the way to Juno Alaska.
OK, my friend don't sell me any BS, OK?

[cottonisking]

⭐️⭐️⭐️⭐️⭐️ Excellent Job by PWC

Tier X has been paid in full.
Tier Y - next available funds of up to £225.0m:
Distributions under Tier Y can only take place once:
? Tier X funds have been distributed in full (which is now the case);
? There has been a final adjudication or settlement of Priority Legal Issue 1; and
? The unsubordinated creditors’ remaining entitlement to post-administration statutory interest has been
satisfied in full, if necessary adjusted for the resolution of the Partial Discharge Issue.
11 Administrators’ progress report from 15 September 2023 to 14 March 2024

[cottonisking]

The Appellate Division will reject LBIE's application. Basis: The Appellate Division has a precedent of going along with their lower trial court decisions and facts. This basis was stated in their recent ruling in favor of AGFP. LBHI's personal emails exposed to much bullshit about the 28 derivatives in question...hard to overcome, but this single case is almost bigger than LBHI'S Bankruptcy. 🤑

LBIE
AGFP litigation
On 8 March 2023, Justice Crane issued her decision in favour of AGFP with the Clerk’s office entering judgment on
30 June 2023. LBIE lodged its appeal of that decision on 22 September 2023.
During the Period, LBIE continued to progress its appeal of Judge Crane’s decision. AGFP lodged its final Reply
brief on 15 December 2023. LBIE lodged its final Reply brief on 12 January 2024.
Following an oral hearing on 21 February 2024, the New York Supreme Court, 👉️Appellate Division, First Judicial
Department entered its decision and order on 14 March 2024, affirming Justice Crane’s decision in full.
LBIE intends to submit an application to the 👉️Appellate Division seeking leave to appeal to the Court of Appeals. For
further information please refer to the “AGFP Litigation” section of the LBIE website:
https://www.pwc.co.uk/services/business-restructuring/administrations/lehman/agfp-litigation.html

[real777mellon]

I think an educated guess is, could this be finished by now and could the CH 11 be exited by LBHI to pay us? Yes.

But PwC and lawyers love milking their money out of it. It's on every one of their Joint Admin reports.

Another example of what I'm getting at can be found here: https://www.madofftrustee.com/

😄

[real777mellon]

Money is money. LBHI has hundreds of billions.

[real777mellon]

Should we just send this to PwC UK to hurry it up so we can exit CH 11 with LBHI?

[4Duxs]

225 KQ’s; 500 MQ’s.

[JERSEYHAWG]

The END.

seems to be getting further and further away. Terrible

I am here reading. Not to much interest in posting. Be good all. Just busy with other things and life.