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I have been running a simple algorithm the last few years and just was wondering what others are seeing in there analytics that might shed some light
What makes you ask that question?
Anyone have a clue as to how these holdings are connected to wmi
back from the dead -lol
After several years of speculation, conjecture, and crossed fingers... finally something concrete.
Something might actually be happening here. Should be an interesting week.
Mon, Jul 29, 2013 12:00 - Lehman Brothers Holdings, Inc. (LHHMQ: Grey Market) - Tier Change - The symbol, LHHMQ, no longer is classified as Grey Market. As of Mon, Jul 29, 2013, LHHMQ resides in the OTC Pink Limited tier. You may find a complete list of tier changes at otcmarkets.com.
Hey Ines,
Now I find you over here. Its like musical chairs.
Question, what country are you in again? I forgot and am just curious.
Jersey:
You dont have sooooo many options to see a couple of $
If i would have such conviction, the only thing i would do is: SUING directly JPM.
If LEH doesnt redeem the Cts, you will see any $ from LEH or BNYM.Keep it or leave it.Keep in mind my point.
You MUST sue JPM, is the ONLY think you can do and the ONLY possible search for getting a couple of $: suing JPM.
Creditors will leave you out from all, BNYM as well( you have the email-8k statement)
JPM depends on what you will do.
JPM will not pay you at all just for " common sense "
The point of Mik is pretty good, but not exactly.
The point of the case, IS NOT WHO WILL PAY THE CTS
Just how a lady is seeing the real life of LEH
Cheers
Public statement-8k
Yep, too many. Sorry for the late reply, haven't looked at this much. I will try and catch up. Thanks for the article.
Do you still have your Cts?
What do you think about the answer from MR JOHN-BYNM, they waive the Guarantee and ACDU coudnt fill a claim under the guarantee
ACDU sells its Capital Trusts. Comments on the following please as I still own a bunch. See also the letter from the trustee for the Cap Trusts at the bottom.
ACDU SEC 8-K today
ITEM 2.01 Completion of Disposition of Assets
Accredited Business Consolidators Corp. (Pinksheets: ACDU) issued a press release June 8, 2009, announcing the formation of Bankruptcy Claims Fund, Inc., which ACDU's subsidiary Italian Oven Financial, Inc., owns a majority. In addition, the fund ultimately acquired Lehman Brothers debt in excess of a face value of $8,000,000.00. On December 10, 2010, ACDU announced it has restructured its Lehman Brothers debt assets. ACDU took possession of the share assignments from BCF and, because market conditions allowed the Company to purchase the shares on the open market cheaper than the assignments, it did so using cash. The Lehman Brothers debt consisted of investments in trusts that held subordinate notes known as Capital Trusts. These shares traded publicly on the Pink Sheets under the ticker symbols LEHKQ, LEHLQ, LHHMQ, and LEHNQ.
On March 15, 2010, Lehman Brothers submitted a proposed bankruptcy reorganization plan. In that plan, it proposed an extremely unusual scheme whereby holders of the subordinate notes would receive their payout as an unsecured creditor, but the funds would then be transferred to the holders of senior unsecured notes and bonds. The only way for a Capital Trust stakeholder to receive any money would be for the senior notes to be paid in full at 100% of their face value during the liquidation process. Only at that time would Capital Trust noteholders receive any form of payment. (Usually, in a bankruptcy proceeding, the Senior Noteholders do receive a higher payout and the subordinate notes receive a lower payout, and we factored that in when we made our original investment decision).
This is not the end of the story because the claims came with a guarantee. Our interpretation of the plain language of the guarantee is that if the payment from the bankruptcy liquidation would fall short of reimbursement to the Capital Trust noteholders, they would then be able to make a claim under the guarantee. However, the trustee for the Capital Trusts did not appear to have lodged a claim on this basis and only claimed the face value of the notes as debt.
To verify the lack of a visible claim based on the guarantee, ACDU contacted the trustee for the Capital Trusts on March 16, 2010. On March 29, 2010, the trustee for the Capital Trusts replied that their legal counsel determined that the guarantee would only provide rights in the event a recovery is realized. ACDU vehemently disagrees with this position. The plain language of the guarantee appears to make it clear that the Capital Trust noteholders should be treated like an ordinary unsecured creditor under the guarantee eliminating the results of the so-called subordination within the contract. Two options existed to enforce rights under the guarantee. First, ACDU could file a claim based on the guarantee. But the time period for doing so expired and the Company would have needed to retain legal counsel to obtain a waiver of the deadlines for investors who bought the Capital Trust shares on the open market after the claims period expired. Second, ACDU could have made a demand on the trustee to seek assistance from the Court to extend the deadline and then submit a claim on behalf of the trust. Pursuant to the terms of the trust, any holder of a Capital Trust share can make a demand on the trustee and if the trustee refuses, they can act on behalf of their own interests.
In discussing the matter with legal counsel, ACDU determined that the legal fees involved in an adversary proceeding against Bank of New York Mellon, the trustee for the Capital Trusts, and for relief, would be expensive and could take several years if the matter resulted in appellate proceedings.
Therefore, ACDU made the decision to sell its Capital Trust shares on the open market at a loss of approximately 10% from its original investment. The company liquidated all of its Capital Trust shares on March 29 and March 30, 2010, and realized approximately $72,000.00 in cash. The Company realizes that it may have been able to sell the shares sometime in the future without taking a loss and could possibly have achieved a profit due to the sporadic trading of the Capital Trust shares on the open market. Nevertheless, the Company made the choice to liquidate the shares immediately without regard to the potential for a slight profit.
Rumors exist that the bankruptcy plan that was proposed may not be accepted, may be modified, and may even be replaced by a general scheme where everyone receives an equal portion of the bankruptcy estate. While we believe the plan is blatantly unfair and is novel in the manner that it takes the amounts due the Capital Trust noteholders and gives the proceeds to the Senior noteholders, even if the plan is modified to a general pool with a more fair payout scheme, we see nothing to indicate that Lehman Brothers and its trustee would not attempt to transfer the proceeds due the Capital Trusts to the senior noteholders in any subsequent plan. With Bank of New York Mellon having waived the guarantee, the Capital Trust holders would be in the same position they are currently in.
For this reason, we chose to liquidate the shares. We hope the holders of the Capital Trust notes eventually receive a fair payout, and we believe they are entitled to a fair payout and not to have their money given entirely to the Senior Noteholders, but we cannot currently accept the risk after reviewing the plan and correspondence from the trustee of the Capital Trusts.
If Bank of New York Mellon, which serves as trustee for the Capital Trusts, was taking a more proactive role in protecting the rights of the noteholders, we would have been more comfortable in seeing the end result. However, when the trustee chooses to waive potential rights for millions of dollars in claims because of their legal counsel's narrow reading of the prospectus, it appears better for ACDU to move on.
ACDU will continue to monitor the proceedings closely.
Copies of the correspondence with Bank of New York Mellon is reprinted below.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
Dated: March 30, 2010
ACCREDITED BUSINESS CONSOLIDATORS CORP.
By: /s/ Joanna Chmielewska
Joanna Chmielewska, President
Twitter: accreditedbiz
web: www.accreditedbiz.com
fax: 1-267-371-5168
-------------------------
EXHIBIT 99.1
March 16, 2010
Dear Mr. Guiliano:
In reviewing the claims filed on behalf of the Capital Trusts (Claims 21803, 21805, 22122, and 22123), we see no indication that the trustee lodged a claim based on the guarantee provisions of these notes.
These notes continues to trade on the open market, and by not filing a claim on the guarantee, significant rights might have been improperly waived -- especially for those who buy shares in the trust after the claims filing deadline.
Can you confirm whether a claim was filed by the trustee based on the guarantee provisions of the notes and, if not, how rights are to be preserved under the guarantee provisions.
Very truly yours,
A. William
AccreditedBiz
-------------------------------------------------
Reply john.guiliano@bnymellon.com to ACDU
Mar 16
Please identify yourself. Please advise your holdings in each of the Capital Trust you reference in your email.
John M. Guiliano · The Bank of New York Mellon
GLOBAL CORPORATE TRUST, 101 Barclay Street, 8 West, New York, NY 10286 · Tel 212.815.5441 · Fax 732.667.9239 · john.guiliano@bnymellon.com
-------------------------------------------------
Reply to john.guiliano
Mar 16
We presently hold the following Capital Trust shares via our broker, OptionsXpress.
LEHKQ 27492 shares (25$ face)
LEHLQ 126500 shares (25$ face)
LEHNQ 57500 shares (25$ face)
LHHMQ 112,400 shares (25$ face).
Our brokerage is in the name Accredited Business Consolidators Corp. We are a public company, trading as ACDU.
Andy William
AccreditedBiz
--------------------------------------------------
Reply |ACDU to john.guiliano
Mar 29
Dear Mr. Guiliano:
This is a follow up to our email of March 16, 2010, relating to the lack of a claim based on the guarantee. We continue to have a need to know what action is being taken to protect the trust shareholders' rights under the guarantee and, to the extent that a trust shareholder needed to file his own claim based on the guarantee, how that can be done for shareholders who did not buy the trust shares on the open market until after the guarantee claim deadline?
It is imperative that we receive a prompt response so that, if the guarantee claim was waived by the trustee, we can take appropriate action to preserve our rights.
We appreciate your prompt response.
A. William
AccreditedBiz
--------------------------------------------------
Reply |john.guiliano@bnymellon.com to ACDU
Mar 29 (2 days ago)
After consultation with our legal counsel regarding this matter, we understand that the guarantee supporting the equity shares issued by each of the Lehman capital trusts are limited guarantees. The guarantees are limited solely to the assets in the trust -- i.e., the Lehman subordinated debt for which The Bank of New York Mellon serves as indenture trustee. Please refer to the limited guarantee. As you are aware, the Bank has filed proofs of claim on behalf of each of the Lehman capital trusts referenced in your email below with respect to these subordinated debt securities held by each of the trusts. Any recovery by such trusts under a plan of reorganization would be based on such claims. The guarantee has value only to the extent the claim is realized.
Please refer to the prospectus for each capital trust for further information regarding the foregoing. We are happy to respond to any further questions you may have.
John M. Guiliano · The Bank of New York Mellon
GLOBAL CORPORATE TRUST, 101 Barclay Street, 8 West, New York, NY 10286 · Tel 212.815.5441 · Fax 732.667.9239 · john.guiliano@bnymellon.com
CT's most active on LEHNQ board, link below.
http://investorshub.advfn.com/Lehman-Bros-Cap-Trust-VI-Prefd-Series-%22N%22-LEHNQ-14907/
This almost hit .50 wow this is still hot can't wait for the pay day on this one still have a truck load of this
This almost hit .50 wow this is still hot can't wait for the pay day on this one still have a truck load of this
Yes, and hope it is very soon. Have a good no. of these critters.
Hey hey hey cash is flowing in again on this
I think that their 20 quarter are up on 4/17 for LHHMQ.
So either an armored car shows up at my curb, or it's more waiting and wondering what the powers that be, have in mind.
U really think the next 7 days will yield any news on these?
Getting tired of waiting, but that's what the game is.
Nice, but it will be a 100 yrs before the truth is widely known...
LHHMQ! hiya sd hows it going?
Who gets the good/bad news first?
Last dividends paid:
LHHMQ:
LEHNQ:Ex/Eff Date Type Cash Amount Declaration Date Record Date Payment Date
4/17/2008 Cash 0.375 3/27/2008 4/21/2008 4/22/2008
LEHLQ:Ex/Eff Date Type Cash Amount Declaration Date Record Date Payment Date
7/15/2008 Cash 0.39 6/25/2008 7/17/2008 7/18/2008
Ex/Eff Date Type Cash Amount Declaration Date Record Date Payment Date
7/28/2008 Cash 0.3984 7/15/2008 7/30/2008 7/31/200
Ex/Eff Date Type Cash Amount Declaration Date Record Date Payment Date
9/10/2008 Cash 0.3984 8/21/2008 9/12/2008 9/15/2008
http://www.zerohedge.com/news/2013-03-04/did-us-government-sanction-liquidation-lehman-brothers
Did The US Government Sanction The Liquidation Of Lehman Brothers?
Submitted by Tyler Durden on 03/04/2013 19:28 -0500
Yesterday we described in extensive detail just how on September 10, 2008, by way of a glaringly erroneous margin call, either purposefully or by accident JP Morgan managed to extract over $250 million in variation margin cash from Lehman, which may well have been the catalyst for the end of Dick Fuld's megabank as it precipitated several other multi-billion margin calls from both JPM and other banks, ultimate;y leading to Lehman's liquidation filing five days later.
JPM naturally pleaded innocence and attributed everything to an error committed by an unnamed back-office margin clerk: after all, a mandated hit on a competitor would be not only illegal, but also would involve conspiracy reaching to the highest echelons of government, as Hank Paulson (and to a lesser extent Bernanke) would have had to bless the launch of a raid as brazen as one taking down one of America's largest investment banks from within the US.
Needless to say, anyone who accused the US government of engaging in this level of criminal activity would be immediately branded a conspiracy theorist and ostracized from polite social circles in perpetuity.
But what if said "speculation" emerged not from the depths of some fringe tin-foil operation, but from the sovereign wealth fund of the United Arab Emirates, the Abu Dhabi Investment Council, one of the world's largest sovereign wealth investors and petrodollar recyclers. Surely they can't be branded tin foil? After all they are "very serious people" who manage hundreds of billions.
We ask for the simple reason that this is precisely what happened, as we learn courtesy of Wikileaks-leaked cable 08ABUDHABI1287, UAE VIEWS ON GLOBAL FINANCIAL TURMOIL, describing the meeting of then Treasury Deputy Secretary Kimmitt and Ambassador Olson with officials from the highest branches of Abu Dhabi's top financial organizations.
S E C R E T ABU DHABI 001287
TREASURY FOR D/S KIMMITT, U/S LEVEY, U/S MCCORMICK
NSC FOR DPRICE
STATE FOR EB
E.O. 12958: DNG: CO 11/10/2032
TAGS: AE ECON IR
SUBJECT: UAE VIEWS ON GLOBAL FINANCIAL TURMOIL
Classified By: Ambassador Olson for reasons 1.4 b and d.
¶1. (C) Summary. On 27 and 28 October 2008, Treasury Deputy Secretary Kimmitt and Ambassador Olson met with officials from the UAE Central Bank, UAE Ministry of Finance and Abu Dhabi sovereign wealth funds. Kimmitt discussed the USG response to the global financial turmoil and prospects for the U.S. economy, solicited input on the regional implications, stressed U.S. commitment to open investment principles, encouraged continued vigilence with respect to Iran, and assured that transition planning was underway at the Treasury Department to ensure a smooth handoff to the next administration. End Summary.
Lehman Collapse Rattles Abu Dhabi
---------------------------------
¶2. (C) D/S KIMMITT DESCRIBED U.S. STEPS TO PRESERVE STABILITY IN THE FINANCIAL SECTOR. ABU DHABI INVESTMENT COUNCIL (ADIC) OFFICIALS QUESTIONED KIMMITT ABOUT THE USG DECISION TO ALLOW THE FAILURE OF U.S. INVESTMENT BANK LEHMAN BROTHERS. ADIC MANAGING DIRECTOR KHALIFA AL KINDI REPEATED SPECULATION THAT LEHMAN'S COLLAPSE WAS PART OF A DEAL WITH THE U.S. CONGRESS, PAVING THE WAY FOR THE $770 BILLION EESA PACKAGE. KIMMITT EXPLAINED THAT THERE WAS NO BUYER FOR LEHMAN AS THERE WAS FOR BEAR STEARNS, AND THAT AT THE TIME TREASURY LACKED THE AUTHORITY TO INJECT CAPITAL OR TAKE OTHER STEPS. (COMMENT: ADIC'S DIRECT AND SUSTAINED QUESTIONING ON THE LEHMAN BROTHER'S COLLAPSE SUGGESTS THAT THE SWF LIKELY SUSTAINED LOSSES FROM HOLDING LEHMAN DEBT INSTRUMENTS. END NOTE.)
Curiously, both "explanations" are wrong, as by now everyone knows that Barclays was an interested buyer in Lehman and would have engaged in a wholesale transaction had it gotten the guaranteed blessings of either the US government or the crown (instead of simply buying just the North American brokerage out of bankruptcy a few short days after the Chapter 7 filing), and furthermore we know that the US Treasury had every authority to inject capital and take "other steps" as confirmed by the subsequent bailouts of AIG and, to a lesser extent, Citigroup.
After all: the US was just getting warmed up.
So why use lies as justification for the inaction that did indeed "pave way" for Hank Paulson's theatrical demand for a blank check in Congress justified by a three page term sheet? Could it be that it is precisely because the US government did indeed sanction the "hit" on Lehman, and JPM's escalating rounds of margin calls was the "weapon" used to take out the offending bank?
Alas, with such "in-depth investigative journalism" as Andrew Sorkin's very much retroactively pseudo-fictional "TBTF" narrative of events, one will never know what really happened in those days before Lehman's collapse unleashed the biggest bank profit bonanza and money printing, wealth transfer orgy in history.
Where can I read about this. And is the right board to be on for any new news?
Commons were cancelled, back in March I believe. So the number of your commons is noted for possible consideration in the OneBigShare.
Hey, Is this the new LEHMQ? Just checked my TD and seen where my LEHMQ has now changed into numbers as the symbol. It's not trading. 20,000 shares at .00 worth. I'm sorry but I haven't checked my account in almost a year and didn't know. Is LEHMQ no more? Have I lost my shares even though it still shows 20,000? Please help.
What was the ticker of your Lehman stock?
Are my old Lehman stockshares gone??
I had about 20 thousand shares of lehman stocks i got after the 2008 crash, i got them for pennies,.. well, I am inexperienced at the logistics of all this,.. but are my stocks gone! ka-put! or is something else happening to lehmans and my stocks? thanks
Big payday soon http://www.distocks.com/lehman-brothers-to-boost-the-market/
Active CT discussion on LEHNQ ihub board...
Hey Realtime,
Please elaborate on Blackstone's involvement with Lehman Brothers.
Thanks in advance.
Mo money mo money mo money wow I can't be happier thank you Jesus Blackstone deal looks like it might be done soon news will be soon IMO
Yes agree I still have a rather large position on these
There is alot more to come in my opinion. Volume is picking up as will the price.
Got to love this bad boy still making me money sweet
EET, read the LEHNQ THREAD, its the most active with the most info.
Don't know, but glad to see some action here the last few days, what ever happened to LAMCO?
What happened?
FOOTNOTE: Just checked. I snagged 1500 more shares.
This speaks louder than words http://online.wsj.com/article/BT-CO-20120525-704661.html
MIAMI, its all conjecture and guesses. But IMHO the most probable worth of commons will tend to be not much, if anything at all. For the most LEHMAN info follow the LEHNQ THREAD. We manage to pass the most information on that thread. GLTY
Just remembered that I've got a bunch of Lehman common stock...looked over the board and didn't find a definite answer on what they're "worth." Broker told me that they were restructuring and that they'll be a new issuance of stock. Can anyone point me in the right direction as far as what the shares of common stock that I have are worth or what they could be worth? Thanks a bunch.
I still follow ALL THREADS, its just we dont have much to follow. LOL
IMHO, all heck will break loose one day.
Quiet around here since everyone is on the N board.
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