Lehman Brothers Holdings Capital Trust V (LHHMQ)

[catdaddyrt]

maybe but it would be a colossal one if so -

[ToyotaMR2s]

looks like we done, tax write-off i guess

[JERSEYHAWG]

i agree with that, i still think some sort of mistake has been made. IMHO

[catdaddyrt]

now we wait some more - the CTs are supposed to be debt but being treated like equity so its not over yet

[JERSEYHAWG]

i see that, now what? ????????????????????

[ToyotaMR2s]

All Lehman's cancelled today

[catdaddyrt]

hard to get anything on these - you did well -I don't even try to buy the Ms anymore

[JERSEYHAWG]

FWIW,

they big hearted MMs gave me 922 of these,,,cheeeesh, could they spare them? LOL

[stripus]

Lehman Brothers Settling More Of Its Tax Issues With The IRS


By Joseph Checkler
Of DOW JONES DAILY BANKRUPTCY REVIEW

Lehman Brothers Holdings Inc. (LEHMQ) said is continuing to work with the Internal Revenue Service to settle issues over back taxes, pacts that will save the estate more money as it plans to pay back its creditors.
In a Thursday morning filing with U.S. Bankruptcy Court in Manhattan, Lehman said it has settled all but 10 of the 36 outstanding issues it had with the IRS over taxes from 2001 to 2007.
"Given the uncertain legal questions and the factual complexity surrounding many of the settled issues, and the risks and expense attendant to litigating each of these settled issues, LBHI believes that the Settlements are fair and reasonable," Lehman said in its filing.
The latest compromise, Lehman said, cuts a $1.8 billion tax claim to $1.1 billion, and the two sides will continue talks on the other 10 issues related to the seven years in question.
"LBHI's management and its in-house tax department have assessed the Settlements and have concluded that the Settlements are fair, equitable, and in the best interest of the Debtors," Lehman said in its filing.
Lehman also said that it continues to negotiate settlements on tax issues for other years with the IRS. A spokeswoman for the U.S. Justice Department, which represents the IRS, declined to comment.
In 2010, Lehman announced deals with the IRS over taxes from 1997 to 2008 that put more than $125 million in the coffers of the firm's bankruptcy estate.
Lehman collapsed into the largest bankruptcy in history in September 2008, and since then, a team of bankruptcy professionals under the direction of Alvarez & Marsal Inc. has managed its assets, including real-estate holdings, corporate debt and derivatives.
Late last year, Judge James Peck of U.S. Bankruptcy Court in Manhattan approved Lehman's creditor-payback plan, which should distribute about $65 billion and treats creditors of Lehman subsidiaries better than those of the parent company.
Despite confirmation of the plan, the company still has billions of dollars in real estate and other assets and will continue to exist as it unloads and manages those investments.
While Lehman's plan has been confirmed by Peck, it still isn't considered "effective," so the distributions can't yet begin. The company has said it hopes to make its first payout to creditors around the end of the first quarter.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection.)

[motorman85]

I received one the other day, started filling it out and noticed there are no codes for the Cap Trusts on pages 14-16 (proof of claim form). I may have to call about that. Let me know if you have the same problem.

Thanks

[JERSEYHAWG]

.10 PPS, 21,500 APROX shares traded so far today,,nice

something going on,,,maybe WHALE BUBBLES

[onco]

what was in the package

[catdaddyrt]

yes very nice to see

[lefty18]

I just received a package in the mail for the shares of trusts of Lehman stock that I owned a couple of years ago. Anyone have any idea what the shares are worth, and has anyone else received a packet about their Lehman shares?

[Greta Grabo]

was slapped pretty hard to 20k shares at .1

[DJN]

WOW, .10 slapped. Interesting and nice to see.

[REALtime64]

Can't wait till I cash in these tickets

[hestheman]

Yes....100 percent positive. Read the plan and you will see how each class is being treated.

[catdaddyrt]

this remains to be seen --I am here to the end with 3 CTs and one preferred - it is looking better everyday but its not over till its over - a lotto play imo and I have my tickets





cottonisking's post

I see senior classes 3 - 5 being paid off in full. We are next in line. LOL Once these people are paid off, they have nothing to claim. Realestate will be rolled up into stock and given to senior classes to satify their claims. The debtors were smart to put this in the plan. Take a look at docket 22743. This docket has the vote count by number and claim dollar amount. The claim numbers in docket 22743 are much lower for class 3: $65.5B versus $83B in DS?

[catdaddyrt]

are you 100% positive on this? I have seen some BS go down at the end of some BKs -

None of the capital trust shares will share in the 1 big share fate as the regular preferreds and common shares.

[hestheman]

Trust preferred shares (Our cap trusts) are already classified by the BK court as debt rather than equity. None of the capital trust shares will share in the 1 big share fate as the regular preferreds and common shares.

[catdaddyrt]

I agree first things first - will the CT's be deemed debt or not- thats all that matters for now - imo

[JERSEYHAWG]

FWIW......got the two thousand shares today

[chessman]

Thanks. I just think ...

that it is important to get past the hurdle of the Effective Date. Then everything for the CTs changes -- either in a big way or not.

Chessman

[JERSEYHAWG]

Nice post

[chessman]

The turning point for the CTs will be ...

I have been here for months, both observing and picking up the various flavors of CT shares along the way, patiently waiting (painfully patient, you might say) for the critical turning point for these special securities. That turning point? The Effective Date. We need to get to that point to find out if there will truly be any reasonable and decent value to the CTs.

I have observed all the great DD, and the attempts to rain on the parade by naysayers (you know who you are), and my conclusion is that we can speculate all we want about dividends and deadlines and assets and such, but we don't stand a chance unless the CTs are ruled/considered debt. The Effective Date, from my understanding, will be that time when our brothers and sisters in preferred and commons will be delegated to the big share of pie in the sky that may somehow become something real and edible if Lehman can recover many billions of assets down the road. In the meantime ...

If the CT shares do not get tossed into that LAMCO pot, I believe we will see some amazing things happen. Mind you, if the CTs get paid off at 20%, this will be a life changer(especially for me), and I will be very happy about it, as will many others. However, if they do not get the payoff, but, instead, simply are left alive with the high probability of dividend recovery and payout, share price will likely escalate beyond 50%. There will be long-term investors looking for appreciation and dividends, and the CTs will be quite attractive.

These sort of remind me of the WAHUQ shares, which the hedgies bought for pennies back when WAMU was unrightfully seized. Those WAHUQ shares later rose into the $30 range for a while, until the hedgies got spanked by the Court for IT. Lehman CTs are capped at $25, but that is more than enough, considering the fact that you can buy them now for an average of .10 or less.

So, CT investors and pundits, let's start working on that Effective Date. Let's investigate and see if we can pin it down, when it is due to happen, or when it is supposed to happen. That's all I care about now. Hey, it's cool to dream and plan for dividends, but it's like worrying about taxes before making money. Make the money first! Those dividends will be the talk after we confirm the CT status. Lehman CTs must first rise up above the LAMCO melting pot, and then we can all do the happy dance. And I don't dance much at all, but I really want to do the happy dance!

Chessman

[Greta Grabo]

LHHMQ closed at 09. it shows here on the board and also in my Scottrade and Etrade accounts. Not sure why you are seeing .03

[JERSEYHAWG]

how come i see .03. what the heck am i looking at for closing

[Greta Grabo]

Dam nice.... good to come home to see that. Thanks.

[sidedraft]

Yep, and the VWAP was .07916

[Greta Grabo]

did LHHMQ really close at 09? for real?

[JERSEYHAWG]

the order was in at .085. the fill took place at .05

[littledevils90210]

just curious what your gtc price is. i ususally set it 5-7 cents and let it sit to expire. most do fill from my eperience if you enter half pennies like .075 or .065. it does take time unless you pay the ask...go figure..devil

[JERSEYHAWG]

A FWIW. the big hearted MMs were kind enough to give me 2k of these. So i took them
I cant get a fill on any other CAP TRUST. but i wll keep trying to get them when i can. GLTA

[Greta Grabo]

I have a good bit of shares although not as much as many of you here, I can be debt free (except house) at 20% of just the CT's. Lehman's will be a life changer for us all. IMO


I do not care to think that we could all walk with nothing. I don't believe that will happen.

GLTU

[hestheman]

Woot woot indeed! LOL

[hestheman]

Good move.....allthough preferreds have a great chance of getting a great value as well if they get a good/majority piece of the reorganized company. Remember, we have also heard of a plan by Lehman to IPO Archstone as a way of raising money to pay off creditors. That would be a great strategy IMO.

[Greta Grabo]

I started loading up on pref's then switched to ct's. would love for them both to do something. KACHING!!!

[JERSEYHAWG]

i have faith in DIVIs, dont ask me why.
but WOW !!!! if we get them. LIFE CHANGER, GLTA

[Greta Grabo]

Thanks, trying to get as many shares as possible before they stop trading, waiting for them to either payout or start trading and giving divi's again. either way I can woot woot!

[radiumsoup]

one might need to get a direct access broker for this to specify your choice of ECN or MM. (Tradestation/Interactive Brokers/etc.)

(Kind of a large undertaking for a single stock, but hey, it's an alternative.)

[JERSEYHAWG]

good for you, CONGRATS !

[Greta Grabo]

I ask my broker that yesterday when they were going for 02.

this was their reply

Thank you for your message regarding trading OTC bulletin board stocks.

When trading a security that trades over the counter (OTC), on the Pink Sheets, or is a Penny Stock such as LHHMQ, there is significant risk that the order may not be executed.

This can even occur when the security trades at or below your limit price. The OTC and other markets are unregulated, and market makers are not required to execute orders even if it is the best price currently available. Because of this fractured market, investors may have to place several orders before receiving an execution.

Sincerely,

Brian Giannoni
7:00 AM to 3:30PM EST (Monday to Friday)
1-800-ETRADE-1 (1-800-387-2331)
Senior Financial Services Representative
E*TRADE Securities, LLC

[Greta Grabo]

Wish I had some the the 02's that went yesterday, have been sitting on an order at 04 for what seems like ages. Glad for the 900 at 03. thanks

[sidedraft]

I wonder what the criteria is for handing out the shares, below offers.
My offer is above the last transaction, but the SEC says, "that's perfectly OK".

[DJN]

Nice grab... I see that.

[Greta Grabo]

I got a partial fill at 03 today, been a long time coming.

[PARLAY_IS_ON]

http://blogs.wsj.com/deals/2012/01/27/le...
News from Sigarette21 on Yahoo message
board.

[Greta Grabo]

not much you can do, we are at the mercy of the MM's. I will sit here and wait it out. Glad that I have the shares that I do have, sorry I don't have more. I have C, J, K, N, P, L, HH. A nice mixture of Pref's and CT's and hope that they all get something. gl to us all

[catdaddyrt]

what can you do ? just get as many as you can when you can and hope they wrap this monster BK up this year