Lehman Brothers Financial SA (LEHNQ)

[real777mellon]

IBKR PRO showing me all the bid and asks. All are priced in CAD. I can list the asks for the first time since switching to IBKR Pro - they are not something folks want to offer cheap according to IBKR :)

LEHKQ 21.50 CAD x 100 ASK
LEHLQ 19.00 CAD x 100 ASK
LHHMQ 5.00 CAD x 10,100 ASK
LEHNQ 0.40 CAD x 2,500 ASK

Nice that the people aren't just firesaling. Must means folks value these shares much like us and like SoutheyCapital's quotes of the ECAPS I II and III when they were last quoted in 2022 with an ask in the 19-22 GBP range as people figured the distribution for ECAPS was going to be quite good thanks to 2023 court rulings and announced distributions to holders.

It's the first time I've seen a platform show the bid and ask since the OTC Markets Group Expert Market and CE taking out the bids, even when using Scotia iTrade or Questrade in Canada to get shares 2022-2023.

It's still quoted in CAD so I assume IBKR is getting these quotes from some Canadian brokerage where these bids/asks are being posted by people trying to buy cheat or sell for a higher ask.

Not sure what to make of it but nice to see $21.50 CAD as an ask for a LB's CT PFD share in May 2024. :P

[s404n1tn0cc]

I dont??
... But I know.
See here.
https://cbonds.com/bonds/313201/
Surprise !!! Its worse....
I was being generouse.

[real777mellon]

IBKR Pro and my Small Business Brokerage Account for my LLC my assets are held in shows a bid and an ask for $LEHLQ. A first since I saw them take the bid and ask off entirely on platforms almost 3 years ago.

Basically can see what a seller is willing to sell (100 shs) and @ 19.00 CAD per share of $LEHLQ. Neet to see.

[goodietime]

"Most likely a 90 to 95 percent discount."

Well, at a 95% discount they must expect at least $1.25, a 90% discount, $2.50.....just to break even....I doubt they bought, to 'break even'. imo

[toogoodfella]

RE: 90 to 95 percent discount.

—-/:///——

How do you know?

[s404n1tn0cc]

Most likely a 90 to 95 percent discount. Or paid 6150 (M). IMO

[cottonisking]

⛓️🔗⛓️🪝🏃Who benefits from this delay? Jail Time?

🤭🤭🤭Modified versus Standard ISDA Master Agreement Contracts:

The language in this case is so plain and simple to follow, what is really going on here?

"👉️ That is because the parties had amended their ISDA
Master Agreement to provide for an alternative calculation in the event Devonshire
was the non-defaulting party. LBIE Reply Br. (NYSCEF No. 29) at 7 n.1. AGFP
could have sought a similar amendment to the parties’ Agreement here, 🇱🇷 but it did
not, and Supreme Court’s misapplication of Devonshire to the standard, un-amended
ISDA Master Agreement constituted legal error."

"5
demonstrates the universal applicability of the principle. In any event, whether a
rule of law applicable in myriad circumstances applies to the parties’ New York law-
governed contract is a quintessential question of law👉️ warranting review by the Court
of Appeals to clarify the now uncertain and confused state of the law.
Similarly legal in nature were Supreme Court’s (and this Court’s)
misinterpretation and misapplication of other cases construing the same contract at
issue here. For example, AGFP repeats Supreme Court’s erroneous interpretation
of the Devonshire case when it contends (AGFP Opp. n.8) that Devonshire, as the
non-defaulting party, “did not attempt to calculate a theoretical market price for the
terminated transactions.”👉️ That is because the parties had amended their ISDA
Master Agreement to provide for an alternative calculation in the event Devonshire
was the non-defaulting party. LBIE Reply Br. (NYSCEF No. 29) at 7 n.1. AGFP
could have sought a similar amendment to the parties’ Agreement here, 🇱🇷but it did
not, and Supreme Court’s misapplication of Devonshire to the standard, un-amended
ISDA Master Agreement constituted legal error.
These legal errors are subject to review by the Court of Appeals not only
because they are wrong but because they raise issues of significant public
importance. 👉️New York, as the world’s financial capital, has a unique interest in
ensuring the predictable and fair interpretation of the ISDA Master Agreement
consistent with the principles of New York law by which it is governed. Supreme"

https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=nBhmPgrlziYnQ3JvgTtW2A==&display=all

[JERSEYHAWG]

It is sooo boring.

Loosing interest. By the day. It took 15 years though. Lol

[4Duxs]

68K’s
75L’s
1200 M’s
Boring

Just keep trading til the phoenix rises.

[edbk46]

real777

you are correct

in simple terms
the world froze will just deposit no withdrawal

edbk46

[stockanalyze]

joe was very active today, scooped all 4 of them 🤣

[4Duxs]

700K’s
500 L’s
400 M’s
4,300 N’s
All the food groups today.
Get’r done

[real777mellon]

LBHI was able to make loans to all of it's subsidiaries and is still owed intra-corporate loan repayment AFAIK still. If we're talking balance sheets, does LBHI even need to "transfer" any of the capital "out" of the European subsidiaries (two in administration in UK)? The way I understand it if it's on the books there it's consolidated into the LBHI balance sheet and every financial/past SEC report. ;) - it's a complex structure I don't fully understand but I tell you what. The patience helps, in the meantime reading the Repo105 and Repo108 stuff from the 2011 auditors report on LBHI and it's entire state of operations as well as what led to its downfall - specifically innovative and most likely misunderstood but quite legal accounting practices history will have a later date to reveal the significance of.

Let's just keep riding it out. It's taking forever yes -- but think about it, this was a GIANT worldwide cross jurisdictional government unwinding of a previously private and global intra-corporate lending and consolidated ledger (ultimately with LBHI) first of it's kind company.

1. When LBHI and all subsidiaries were not involved with government and operating cross jurisdictionally as well as intra-corporately as one big organization of subsidiaries all under LBHI in New York - they were able to not have to worry about the specifics of government borders and cross jurisdictional dealings because they were doing business as one organization with many subsidiaries that inter-operate and transact with one another.

2. The hold up is that once the bankruptcy and administration and other cross-jurisdictional government protections and unwinding/liquidation processes came in to administer each different subsidiary that was once just operating under intra-corporate "Lehman Group" rules... it became subject to the discrimination and practices of the government in which the global dozens of LBHI subsidiaries was operating from.

#2 is why this unwinding and resolution is 16 years on-going. We will see a resolution and last final step to this all at the right time. It's late and almost over imo to where we will see our payoff... but how and what order that will occur in? You can only go piece by piece friends.

My two cents.

[JERSEYHAWG]

Thank you ...
👍️

[4Duxs]

692 NQ’s, 1,425 MQ’s

[stockanalyze]

"Scuttlebutt something is coming soon"
29,900% increase today, it came early 🤣

[cottonisking]

LBHI, see if you can win this bid. Thanks

A Houston office building designed by famed architect I.M. Pei is going up for sale through Chapter 11 bankruptcy.

Hilco Real Estate will begin accepting bids for the Uptown-Galleria-area building, located at 2425 West Loop South On June 14, according to a company statement.

"While it is no secret that the post-Covid office market has been challenging, this building is a blank canvas for savvy investors to find opportunity in this vibrant Galleria district," Steve Madura, senior vice president at Hilco Real Estate Sales said. "Whether prooactively leasing this property to multiple tenants or totally reimagining its highest and best use, this famed edifice has all the makings of an investment with tremendous, untapped upside potential."

ADVERTISEMENT

https://www.chron.com/news/houston-texas/article/houston-galleria-building-im-pei-19454862.php

[goodietime]

Thank you for the clarification.

[edbk46]

I did not say that Lehman is involved
Wamu/Coop board has a fair understanding
of Libor
Boardpost as well

Scuttlebutt something is coming soon

sorry for any confusion

[goodietime]

ed, "Libor agreement should be finalized soon
This will be a large settlement "

Where do you see that Lehman is even involved in the LIBOR case?

[cottonisking]

Continuation of my previous post, Basis:

"652, 2019 WL 2166392 (U.S. May 20, 2019), the U.S. Supreme Court ruled that the rejection in bankruptcy of a trademark license agreement, which constitutes a breach of the agreement under section 365(g) of the Bankruptcy Code, does not terminate the rights of the licensee that would survive the licensor's breach under ..."

https://www.jonesday.com › 2019/08
Supreme Court Rules on Trademark License Agreement | Jones Day

[toogoodfella]

RE: cash flow positive ..,

—-:/——-//—

Do you really understand it?

Are you saying LBHI can pay another 130B and still have money left ???

[edbk46]

lehman is back and is cash flow positive
"wholly owned non-consolidated non-controlled/independent affiliates"
these companies are the source of income every month

this income is from "active" business not from just selling assets

Libor agreement should be finalized soon
This will be a large settlement

previous

real777

relax some people do not understand this complex structure

you are correct

controlled uncontrolled consolidated un-consolidated et. al.

lbhii owns these affiliated companies

they can be uncontrolled i.e. independent board
yet board can be change

unconsolidated to tax/earnings reporting

lbie is own by lbhi
retain capital of lbie is lbhi

the real question is will lhbi be allowed to transfer capital out of these
European and Asian affiliates

imho yes

[cottonisking]

🤭🤭🤭Modified versus Standard ISDA Master Agreement Contracts:

After all these years, we were working on the wrong case (Trillions). These dudes (AGFP and gang) cannot read the CTs' prospectuses and the ISDA Master Agreements. Both contracts are based on New York law. Thanks to SCOTUS for their 2019 decision in the CTs Holders' favor [Executory Contract Rights survives rejection...].

👉️ That is because the parties had amended their ISDA
Master Agreement to provide for an alternative calculation in the event Devonshire
was the non-defaulting party. LBIE Reply Br. (NYSCEF No. 29) at 7 n.1. AGFP
could have sought a similar amendment to the parties’ Agreement here, 🇱🇷 but it did
not, and Supreme Court’s misapplication of Devonshire to the standard, un-amended
ISDA Master Agreement constituted legal error.

5
demonstrates the universal applicability of the principle. In any event, whether a
rule of law applicable in myriad circumstances applies to the parties’ New York law-
governed contract is a quintessential question of law👉️ warranting review by the Court
of Appeals to clarify the now uncertain and confused state of the law.
Similarly legal in nature were Supreme Court’s (and this Court’s)
misinterpretation and misapplication of other cases construing the same contract at
issue here. For example, AGFP repeats Supreme Court’s erroneous interpretation
of the Devonshire case when it contends (AGFP Opp. n.8) that Devonshire, as the
non-defaulting party, “did not attempt to calculate a theoretical market price for the
terminated transactions.”👉️ That is because the parties had amended their ISDA
Master Agreement to provide for an alternative calculation in the event Devonshire
was the non-defaulting party. LBIE Reply Br. (NYSCEF No. 29) at 7 n.1. AGFP
could have sought a similar amendment to the parties’ Agreement here, 🇱🇷but it did
not, and Supreme Court’s misapplication of Devonshire to the standard, un-amended
ISDA Master Agreement constituted legal error.
These legal errors are subject to review by the Court of Appeals not only
because they are wrong but because they raise issues of significant public
importance. 👉️New York, as the world’s financial capital, has a unique interest in
ensuring the predictable and fair interpretation of the ISDA Master Agreement
consistent with the principles of New York law by which it is governed. Supreme

https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=nBhmPgrlziYnQ3JvgTtW2A==&display=all

[toogoodfella]

RE: get any monies back from libor settlement?

—-//——//—-

Whether they get it or not, CTs are not affected. Just don’t get bother with.

[stockanalyze]

agree. hope happens soon. they have been renewing lehman.com domain name, though it doesn't mean much as may be on auto renew and costs only like 5 bucks. but when companies want to fold, they generally don't want to keep the doman name as a liability. are they going to get any monies back from libor settlement?

[newflow]

15 years is a long time to say the least.

[toogoodfella]

RE: and you are expecting ?

—-//——-//—-

Just hoping LBHI will come back and put all of CTs back in the market.

[stockanalyze]

and you are expecting ? i mean your reason to still be in it?

[toogoodfella]

RE: are you in favor of recovery for ct's or not?

—-//——-//—-

If you’re still expecting money from the distributions, then you’re really confused. My answer is still the same.. YOU WILL NOT GET EVEN A PENNY.

I’ve been saying it in fifteen years.

[stockanalyze]

$.0014 , the trading fee is higher. this confirms that they must be trading each month to be listed and some large holder is keeping them alive?

[stockanalyze]

"LBHI IS COMING BACK AS A GOING CONCERN" i am confused. are you in favor of recovery for ct's or not? i get this feeling that you think ct's wont get a dime as creditors need to get paid in full. what is your stance?.

[JERSEYHAWG]

they did this before....



Lehman Brothers Holdings Inc.

12

 0

January 6, 2022, Southern District of New York – Varde Investment Partners, L.P. transfers its claims in the face amount of $8,395,690.46 (Claim No. 27940) to Seaport Loan Products LLC and Seaport Loan further sells claim in the face amount of $2,795,562.88 (Claim No. 27940) to Stonehill Institutional Partners, L.P. in the bankruptcy case of Lehman Brothers Holdings Inc.

[toogoodfella]

Amount of Claim: $122,834,000.00

SOLD TO;

STONEHILL INSTITUTIONAL PARTNERS LP
320 PARK AVENUE, 26TH FLOOR
NEW YORK NY 10022

NEW YORK NY
Hedge Fund
Stonehill Institutional Partners is based out of New York. Whalewisdom has at least 18 13G filings, and 4 Form 4 filings The firm last filed a Form D notice of exempt offering of securities on 2023-10-17. The filing was for a pooled investment fund: hedge fund The notice included securities offered of Equity,Pooled Investment Fund Interests

—-//———///———-//—-

THEY ARE NOT STUPID TO BUY A UNPAID CLAIM AGAINST A BANKRUPTED COMPANY IF THEY DONT KNOW THAT LBHI IS COMING BACK AS A GOING CONCERN.

$122,824,000.00.. WONDER HOW MUCH THEY PAY FOR IT?

[4Duxs]

1,440 NQ’s. Traded at $.000001. Total value of the trade $.0014. You just can’t make this up. On to Moab via Mesa Verde NP. Cheers

[cottonisking]

The Lehman Groups' Waterfall:
LBIE
LBHI2 and WW
LBH PLC
LBHI's sub debt note in LBH PLC $1 Billion
LBHI
Senior Creditors
Subordinated Creditors' CTs Holders' interest


Song by Harold Melvin & the Blue Notes

If you don't know me by now
You will never never never know me (oh)
All the things that we've been through
You should understand me like I understand you
Now baby I know the difference between right and wrong
I ain't gonna do nothing to upset our happy home
Oh don't get so excited when I come home a little late at night
'Cause we only act like children when we argue fuss and fight
If you don't know me by now (if you don't know me)
You will never never never know me (you'll never, never know me)
If you don't know me by now(if you don't, if you don't know me baby)
You will never never never know me(No you won't)
We've all got our own funny moods
I've got mine, woman you've got yours too
Just trust in me like I trust in you
As long as we've been together it should be so easy to do
Just get yourself together or we might as well say goodbye
What good is a love affair when you can't see eye to eye, oh
If you don't know me by now (if you don't, if you don't know me baby)
You will never never never know me (hey hey, hey hey, hey hey)
If you don't know me by now (you will never never never know me)
You will never never never know me (oh)
Source: LyricFind
Songwriters: Kenneth Gamble / Leon Huff
If You Don't Know Me by Now lyrics © BMG Rights Management, Kobalt Music Publishing Ltd., ONErpm, Royalty Network, Songtrust Ave, Sony/ATV Music Publishing LLC, TuneCore Inc., Universal Music Publishing Group, Warner Chappell Music, Inc

[stockanalyze]

and the relevance?

[cottonisking]

Continue with page 5:

5
demonstrates the universal applicability of the principle. In any event, whether a
rule of law applicable in myriad circumstances applies to the parties’ New York law-
governed contract is a quintessential question of law👉️ warranting review by the Court
of Appeals to clarify the now uncertain and confused state of the law.
Similarly legal in nature were Supreme Court’s (and this Court’s)
misinterpretation and misapplication of other cases construing the same contract at
issue here. For example, AGFP repeats Supreme Court’s erroneous interpretation
of the Devonshire case when it contends (AGFP Opp. n.8) that Devonshire, as the
non-defaulting party, “did not attempt to calculate a theoretical market price for the
terminated transactions.”👉️ That is because the parties had amended their ISDA
Master Agreement to provide for an alternative calculation in the event Devonshire
was the non-defaulting party. LBIE Reply Br. (NYSCEF No. 29) at 7 n.1. AGFP
could have sought a similar amendment to the parties’ Agreement here, 🇱🇷but it did
not, and Supreme Court’s misapplication of Devonshire to the standard, un-amended
ISDA Master Agreement constituted legal error.
These legal errors are subject to review by the Court of Appeals not only
because they are wrong but because they raise issues of significant public
importance. 👉️New York, as the world’s financial capital, has a unique interest in
ensuring the predictable and fair interpretation of the ISDA Master Agreement
consistent with the principles of New York law by which it is governed. Supreme

[4Duxs]

1700 KQ’s; 1285 MQ’s
Sent from Monument Valley, watching the sun set was cool. I’ll be having my coffee at sunrise. Have to keep living while we wait. Cheers

[goodietime]

Pretty big Claim transfer...


1 Dockets
Sort by:Filed Date
Docket # 61661
Filed May 07 2024
Transfer Agreement FRBP. Transfer Agreement 3001 (e) 2 Transferors: Varde Investment Partners, L.P. (Claim No. 25450, Amount $122,834,000.00) To Stonehill Institutional Partners, L.P. filed by Edward J. Leen on behalf of Stonehill Institutional Partners, L.P.. (Leen, Edward)
Case Number 08-13555 Lehman Brothers Holdings Inc.


https://dm.epiq11.com/case/lbh/dockets/61661?debtorId=1906

[cottonisking]

Continue with next page:

6
Court’s departure from well-settled New York law governing the calculation of loss-
of-bargain damages, and its departure from the well-settled rules of construction
governing the ISDA Master Agreement, raise legal issues of state-wide and indeed
global public importance, necessitating Court of Appeals review.
LBIE has therefore identified legal errors that this Court appears to have
overlooked or misapprehended, warranting reargument, and that present issues of
significant public importance and conflicting caselaw that ought to be reviewed and
resolved by the Court of Appeals.

https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=nBhmPgrlziYnQ3JvgTtW2A==&display=all

[stockanalyze]

what implications does this have on capital trusts?

[cottonisking]

Continue from my previous post:

4
is axiomatic that “[t]he interpretation and construction of such documents as
contracts … are matters properly treated as questions of law and are reviewable by
this Court.” Gitelson v. Du Pont, 17 N.Y.2d 46, 48 (1966). 👉️In this case—where the
contract at issue governs hundreds of trillions of dollars of financial derivatives
between parties entirely remote from the parties in suit, see JPMorgan Chase Bank,
N.A. v. Godfrey Ltd. P’ship, No. 602920/2008, 2012 WL 10007863, at *9 (Sup. Ct.
N.Y. County July 16, 2012), there is a clear and significant public interest in ensuring
certainty and consistency in its interpretation and construction.👈️
Supreme Court’s ruling that market prices were “irrelevant” also raises a
series of additional legal errors of broad legal consequence to businesses governed
by New York law. AGFP claims to have calculated Loss based on “loss of bargain”
pursuant to the parties’ contract. A7147, 9416. But New York law—which governs
the parties’ contract—requires that loss of bargain be calculated by reference to
market price, White v. Farrell, 20 N.Y.3d 487, 499 (2013), even if market prices are
not directly observable, Credit Suisse First Bos. v. Utrecht-Am. Fin. Co., 84 A.D.3d
579, 580 (1st Dep’t 2011). By affirming Supreme Court’s contrary ruling, the
Decision stands in direct conflict with these Court of Appeals and First Department
decisions applying fundamental damages principles.
AGFP contends that these cases (and many others cited by LBIE for the same
proposition) did not involve precisely the same facts as this dispute—but that only

MEMORANDUM OF LAW (Motion #1919)
Reply Memorandum of Law in Further Support of Motion for Leave to Reargue, or in the Alternative, Le ... show more Rossman, A.
Filed: 05/03/2024
Received: 05/03/2024

https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=nBhmPgrlziYnQ3JvgTtW2A==&display=all

[4Duxs]

4,903 KQ’s

[cottonisking]

LBIE vs AGFP Case Link:

https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=nBhmPgrlziYnQ3JvgTtW2A==&display=all

See May 3, 2024 letter...

[jwnoble3]

Its up to the BOD, judge would just sign off on it

[toogoodfella]

Reverse logic

[SwissCheeseAccount]

>>It is not the court decision unless if management requested it.

And whose decision is it to allow or deny it? Lol

[cottonisking]

🏝️🏝️🏝️Keep Working on your Bucket list and never stop:

We all can use some down time. If I get paid here, my plan is to approach the speed of light...

Possible party location?

In retirement you have more idle time to look back.

Jim Hall hired me fresh out of College, in Houston, Texas; to work for General Electric and sent me to Schenectady, New York and Charlottesville, Virginia for several years. We bid on Federal and State and Private contracts too.

https://www.tributearchive.com/obituaries/26401927/james-albert-hall

http://www.hickoryknolranch.com/hkr

[4Duxs]

4800 MQ’s. First trade in a few sessions. Happy Friday boys and girls.