Lehman Preferred Series "J" Preferred (fka LEHJQ)

[DJN]

If you didn't get your J shares reinstated, call your broker ASAP.

[sidedraft]

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72918052

[ok husband]

i want to write off my loss what was the date the stock was stopped from trading and escrowed?

[jmbcareer]

Hi acc,

Read your 09 post related to distressed ideas presentation. Would you share privately this presentation?

Thanks
J-

[Docsavag]

I'm afraid I can't speak to the potential recover through the broker, but your parents do have markers in their account for their investment. All equity were rolled into the OBS (one big share) to address any proceeds after the wind down. There has been much discussion on the potential NOLS (net Operating losses) available to Lehman, close to $60B, but in order for their use to be viable, old equity would have to be part of the solution. $60B in NOLs would likely have an estimated value of about $20B if used to offset gains, so its very likely a solution will come forward with some parties to use these tax offsets.

No promises, but some hope. Good luck with pursuing this for your parents, but they may still stand to recover at least part of their monies. It takes quite a long time, however (years), but hopefully most of that time is now behind us.

[HelpMyFolksNYC]

Hi all, I'm humbly asking for advice on LEHJQ. I know essentially nothing about this field, but my parents were sold 1000 shares of LEHJQ when it was at $25 a share (28 Feb 2008) by a broker over the phone. The broker was someone who managed the resources for my grandma for years and was supposed to sell my parents the same stock he had provided our grandmother, however I believe he swindled them. They had zero experience in the market, completely new to buying stocks/bonds etc, and close to retirement age (5 years ago my Dad was 60 and Mom was 58.) They're not financial gurus by any means, and from what I've gathered recently from a friend who works in the field, they should never have been sold this stock. He suggested I contact a criminal fraud attorney and pursue the company who brokered the deal, as my parents are considered "low risk" buyers. My question is, is the broker who sold them the stock ($26k worth) liable to cover the losses incurred, given that my parents were sold something that was tanking at the time? Lehman filed for bankruptcy less than 7 months after my parents were sold the stock, is there some way the broker would have known about the high risk nature of this and should have informed my parents to sell? Any advice would be greatly appreciated. I figured I would chum the waters a bit and see what information I could find before contacting a lawyer...
(I'm a research scientist working at a non-profit on HIV prevention, and my parents both work in education, so $25k is actually a considerable amount for my family that we would love to get back if possible. :)

Thanks for your time and input!

[FORDGT]

I think this one is dead and gone.... Sorry to say... We have been done in by to big to fail crime family... You know the US government...

[ok husband]

looks like lehman bk may rap up lehjq still in the money?

[pattiofurniture]

amazing --the bigger they are the harder they fall

[s404n1tn0cc]

They know that these shares are cancelled. :-/ :-p

[Argus63]

VERY NICE...

http://dealbook.nytimes.com/2013/04/15/creditors-of-lehman-europe-could-be-completely-repaid/?_r=0

“To be able to advise ordinary unsecured creditors that we now have a reasonable chance of eventually repaying their claims in full marks a significant milestone,” said Tony Lomas, a partner at PricewaterhouseCoopers, in a statement.

I really can't see LBHI doing worse than LBIE. IMO

GLTA

[Argus63]

IF there is moolah left over...

...and it seems that there just may be - so your guess is reasonable.

GLTU

[cyb]

Imo yes, that is why the obs was created.

[bakersson]

If newco isn't formed would preferred and commons continue to recieve money as derivatives are settled? Could those shares continue to recieve money for years theoretically? Thanks.

[cyb]

I think once the por is paid, distributions there after would trickle across all classes, including obs. unless of course there is a merger or reorg then you'd receive compensation in newco.

[bakersson]

I'm assuming the cap trusts will be paid off either this year or certainly next, so the money from the derivatives might go towards preferred and commons in 2015?

[FORDGT]

You have that correct brother... GS and the Paulsen brothers are indeed nicely wraping up the crime of the century.... No Justice for investors.... Just the Golden GS Crime family

[Argus63]

"of which $2.3 billion should come in the remainder of 2013!!!"

Read more: http://www.nasdaq.com/article/lehman-seeking-to-collect-32-billion-on-derivatives-through-2015-20130724-01472#ixzz2a3xCoBwg

[Argus63]

http://www.nasdaq.com/article/lehman-seeking-to-collect-32-billion-on-derivatives-through-2015-20130724-01472

[Argus63]

http://www.nasdaq.com/article/lehman-increases-estimate-of-cash-levels-to-806-billion-20130724-00891

[Argus63]

3B is peanuts if you compare it to how much GS, Barclays & JPM made "individually" on Lehman's well planned demise. ;)

[FORDGT]

THIS IS THE GUY THAT GOT YOUR LEHMAN SHARE VALUE .. HIM AND HIS BROTHER HANK.. THEY ARE PART OF THE JUST-US TO BIG TO FAIL UNITED SNAKES OF AMERICA.. AND STILL ERIC HOLDER ISN'T SURE WHAT HAPPENED.. yEAH rIGHT.. LOL..

John Paulson
Billionaire

John Alfred Paulson is an American hedge fund manager. He is the founder and president of Paulson & Co., a New York-based hedge fund. Paulson became a billionaire by short-selling subprime mortgages in 2007 and made $3.7 billion that year. Wikipedia

Born: December 14, 1955 (age 57), Queens, New York City, NY

[Nelia]

for a simple mind
there is a law suite in lehjq

then if i was chief from the bankruptcy i will give money
only to old and new shareholders from lehjq

and not others

for a simple mind of course the opposite can be finally the truth since CT have prioritary on others class despite class law suite in lehjq

[Argus63]

http://www.foxbusiness.com/news/2013/05/29/lehman-barclays-battle-over-2008-sale-goes-before-appeals-panel/

[Argus63]

Bundesbank settlement just in...

http://www.foxbusiness.com/news/2012/11/29/lehman-trustee-german-affiliate-settle-135-billion-bankruptcy-fight/

[Argus63]

TradingFunds...

...sorry but I do not have a crystal ball.

IMO - ALL Lehmans are a pure gamble from my perspective...because of the unknown factors/players and the inherent greed of hedge funds and banks who will certainly reap most of any rewards.

I am a 'calculated' gambler and feel comfortable with the risk/reward ratio that I see here.

No guts/risk = no glory/reward.

I am holding until the end...

GLTU & your friend.

[bakersson]

Lehman sells Archstone for 6.5 billion
http://finance.yahoo.com/news/lehman-sell-archstone-equity-residential-212537238.html

[guster0]

http://www.reuters.com/article/2012/11/19/us-archstone-ipo-idUSBRE8AI18H20121119

[Argus63]

Citibank to pay up...

http://news.yahoo.com/citi-pay-360-million-end-1-billion-lehman-034112065--finance.html

[Argus63]

http://dealbook.nytimes.com/2012/11/16/man-group-to-sell-lehman-legal-claims-for-456-million/?partner=rss&emc=rss

[Argus63]

http://www.bloomberg.com/news/2012-11-07/archstone-sees-1-77-billion-of-asset-sales-as-it-plans-ipo.html

[Argus63]

NEWS - "Banks gamble with Lehman debt"

(TRANSLATED GERMAN Article)


When the U.S. bank Lehman Brothers four years ago suddenly collapsed, losing hedge funds, banks and investment managers, the accounts were talking at the Lehman's London office, access to cash, other assets and trading positions in the billions. Many still do not know how much of it they will meet again.

But Wall Street is betting now that the requirements are met in full - and their value may be even higher. When sign company insolvency, creditors then sell their demands often to quickly get money, they often take for substantial reductions in purchasing. For such claims, there is a hot market.

Click to enlarge

Claims against the British Lehman subsidiary are currently trading at premiums. Pictured: Scene from the London office in 2008.

In the case of Lehman now some big investors have entered. Amazingly, they paid for claims against the London-daughter more than 100 percent of the original value, it is unanimously of buyers and sellers as the trustee of the Lehman subsidiary.

Usually need seller of claims against bankrupt companies discounts of at least half or more take to the original value. Since Lehman makes no exception: Due from other than the London subsidiary are valued at the market much lower.

Investors rely on the Trustee
In London, prices are driven by the hope that we will succeed to the Trustee, sufficient to enable bulk to service all claims and we have also to pay interest, as is provided by the UK law.

More banks and banking crisis to crisis

Lehman's last big deal
In MF Global's problems began years ago
Warren Buffett is planning the next billion-dollar deal
U.S. government sues Bank of America to one billion dollars
British investigators raise insider exchange ring
JP Morgan sued as the culprit of the financial crisis
Rescue case Freddie Mac earned back billions
Bank bailout made in Japan
Just do not banks - Where Star investors invest their money now
For creditors who have sold their assets in some years ago, because they were anticipating heavy losses, the development comes as a surprise. The buyers can look forward to unexpectedly high profits. For loans to bankrupt companies has now developed a vibrant trade, have discovered the hedge funds and banks in search of higher returns for themselves.

At the price of the most recent deals in this market can be read off the growing optimism that connects especially with failed financial institutions. Claims against the collapsed a year ago derivatives broker MF Global went a few days ago to 90 cents on the dollar on the table. Cheated customers of Bernard L. Madoff Investment Securities were last 60 percent to their demands in the hope that at the end of an even higher rate springs out.

Lehman Brothers in London, whose daughter was primarily used by hedge funds and other investors to handle their trades, recently transferred some assets to former customers who could not access their accounts long. Thousands continue to hang in the air, however, because the money was not in segregated accounts. These subordinated creditors can expect their first payment in November.

Agreement with Lehman U.S. drove prices
Prices for Lehman's London-claims recently made a set up after the Trustee had recently announced an agreement with the run-off U.S. brokerage business of Lehman, passed with the reciprocal financial assets totaling $ 38 billion.

If bankruptcy court and the Supreme Court confirmed for England the agreement, would Lehman Brothers International Europe, the British Lehman subsidiary, to get more than $ 1 billion for its creditors holding unsecured claims and. Several billion for a separate group of creditors

The latest report to creditors shows that the British Lehman subsidiary has secured assets for £ 11 billion of subordinated debt. In addition, receivables from third parties and other Lehman companies that will bring a minimum of an additional 600 million pounds. Given another, unrecognized assets investors are, therefore, that the British subsidiary will be able to meet the current demands completely.

At the most, to the claims of creditors could amount to up to 55 billion pounds. But Tony Lomas, the trustee conducts the settlement of transactions, waving off in this sum. It is conceivable that in the end only loans of 15 billion pounds remained. A majority of the loans had been namely provided by other Lehman companies, and they often lacked any basis, he said.

Law plays into the hands of creditors
British law creditors could sweeten the situation. Insolvent companies are then required to make interest payments if they reach the point of being able to repay their debts. In this case, an interest rate of 8 percent per year would result. Therefore, some buyers expect in the market, more than 130 percent of the nominal debt level regain the 2008th

Among the most recent sales of Lehman claims include those $ 400 million owed the bankrupt bank Claren Road Asset Management, a hedge fund in New York. It sold its debt to about 100 percent of the sum, as market participants and others concerned with the business people said.

State Street Bank sold a 300 million dollar debt for more than 96 cents on the dollar, said informants from the environment of the transaction. Converted into pounds, it will be even more than 100 percent. Who are the buyers of the loans, meanwhile, is not clear.

Among the major investors in Lehman claims include Goldman Sachs , Bank of America and the Royal Bank of Scotland , like to hear from market circles. All three financial groups, both on behalf of customers and operate in their own interest. Other buyers and holders of Lehman's assets are otherwise hedge funds like Elliott Management, King Street Capital Management and Paulson & Co. Officially manifested none of the investors.

Lomas will not comment on the trustee estimates of investors. "It is too early to estimate how big is the chance that we are able to serve all demands," he said, "This is even more true for the question of the legal obligation of interest payments."

[Argus63]

http://www.bloomberg.com/news/2012-10-31/lehman-affiliates-had-14-3-billion-restricted-cash-correct-.html

[Argus63]

"It isn't clear in either case who bought these claims."

...I smell the evil & greedy GS lurking in the shadows...

Profiting from Lehman multiple times!!!

AND no one knows, LOL - IMO

eom

[Nellafom]

isn't that article about Lehman Great Britain and not about our CTs?

[tradingfunds]

It was in the newspaper version also

Which lehman symbol is going to run from this do you think? Hmmmm

[tradingfunds]

HUGE NEWS in the Wallstreet Journal today. Did everyone see it?

[Argus63]

http://online.wsj.com/article/SB10001424052970204789304578084904121587578.html

[Relentless93]

Who are customers? Is equity a customer?

[Argus63]

Customers, including banks and hedge funds, would be paid in full, he said. Jake Sargent, a Giddens spokesman, wouldn’t say if the trustee had set a date for the first payment or how big it would be. “The size and timing of distributions depend on finalizing this agreement in principle, due process for all parties and court approval. The trustee is focused on moving efficiently through this legal process to clear the way for distributions,”

[Argus63]

Customers to be paid in full....

Does that mean us too????

http://mobile.businessweek.com/news/2012-10-06/lehman-brokerage-payout-nearer-after-38-billion-affiliate-pact

[Argus63]

http://www.foxbusiness.com/news/2012/10/04/lehman-trustee-swiss-unit-settle-6-billion-dispute/

[WickedGame]

I'm doing the same, will send both forms directly to Epiq myself, and will ask TD to send both forms to Computershare as well.

I guess there's nothing to do for the preferred trusts for now, but will keep my eyes and ears peeled.

[Argus63]

Couldn't get a clear answer myself so am sending it in today...

I own Js & Ns...W8ben & ofac....JUST INCASE!

GLTU

[WickedGame]

Hi Argus,

If I read correctly, you're in Canada, like me. I own JQ and LQ. Do we need to put in any type of specific claim/form to Lehman directly or via broker to W8Ben or other to preserve our rights to distribution should it come along?

If anyone else can help, please do. Thanks in advance.

[Argus63]

http://www.businessinsider.com/visit-lehman-brothers-office-2012-9

[FORDGT]

Looking very bad... When you can't buy it's bad... But, when you can't sell it's very bad..

[tradingfunds]

Yes I tend to agree with your analysis and appreciate your feedback.

[Argus63]

I sure hope so coz I own some too. I also have some CTs. This is a pure gamble for me and I believe that nobody knows for sure how it will play out until the very end. It could be big if the money keeps coming in and or a merger occurs, or it could be little or nothing, but I also think that the NOLs have some value. I personally don't expect J's to trade again but I expect them to possibly be transformed into 'something else'. If I had a crystal ball ;)

IMO - GLTU

[tradingfunds]

Argus do you expect LEHJQ to trade again or be worth anything? Please give me your insights.

Do you think it will convert to something or another symbol or is it worthless for good? I am sorry but I have not been in tune with the lehman news the past few months.

thxx