Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Viva, my opinion is who knows. Just get this done. Lol
So what's the deal with this weekends developments?
Mic/Jersey you guys have an opinion?
Good afternoon The Zombie Dancers looking for a strong hour of power!
Imho. We are back in delay mode
Mic and Jersey and others,
Now that we've past the 20th of May.... now what? Still screwed because they were able to delay again or was that for different elements of this BK?
Thoughts appreciated after you have time to review the circumstances.
Cheers! All the Best!
Viva
Thanks mic, you to. Best of luck to all of us.
No one would ever forget you Jersey, you posts are always positive and upbeat.
Happy New Year!
I always felt at the very least there would be a 10% face value return, even in 2008.
Viva did you keep all those .005 shares you bought at the end of 2008?
Heck, they were so cheap you could buy and hold until hell freezes over, and not worry about what the outcome would be win or loose.
Happy New Year!
Does this seem about right?
Cheers
VLV
xxxxxx
cottonisking Sunday, 12/22/13 11:11:31 AM
Re: stockanalyze post# 36656
Post # of 36665
The payout for classes 3 thru 9B will stop at $65B:
$65B / $80B = 81.25% Senior vultures take home pay percentage!
The payout for classes 10ABC and 11 will be $15B:
$15B / $80B = 18.75% Subordinate vultures take home pay percentage!
If someone wants an 18.75% return, slap that AaSsKk while the price is cheap! LOL WOW
Any insight on what we should do regarding this Holiday dated Claim forms?
Did all of you receive some?
I have received 2 packets thus far.
I have no clue what I had in any of these way back when.
HELP
LOL
Cheers and Happy Holidays!
Viva
Mic & Viva, have you noticed the newest guesses are now putting us in the 20 percent payoff range? To me that 4 to 5 dollar area seemed where we would end up. Strictly guess work on my end. Pure guess. Be interesting to see the end result. Feeling confident still. Dam this has been dragging out o dam long.
Don't forget me. Lol
Hey men.
Thank you Viva,
We always knew there had to be $$$$ left over in the end of LEH. Nice to know we are still all hanging in there with this, which was always my plan from 2008.
I did not follow WAMU, but to me the Noels, with Lehman were too much large to not be carried off by a surviving entity or merger of some sort.
The fact that we are still trading after all this time is very favorable IMO.
I like that sidedraft, only those of us who follow BK stocks would think of such a thing.
What is also nice is nobody knows of this thread but us that have been here for about 5 years now.
N O L, N O L, N O L, N O L, born is the Kind of Israel...........LOL
Hey bros, merry Christmas to you zombies. I think we make bank on this baby.
Whenever I hear noel, somehow NOL comes to mind. Merry Christmas
Mic,
Hope all is great with you this Holiday Season!
Any thoughts on the recent developments with Lehman and how the WaMu NOL situation may compare here with Lehman?
Cheers
Viva
A share is a share, it doesn't matter when you bought them.
Other than being hard to buy on the greys, I see nothing wrong with adding here. I have had a pat hand and not trying to buy or sell.
As for the call yesterday, my claim still stands and has not been expunged. I think the claim will end up surviving on the equity side as things wind down.
The fact that I got a call shows there is a big interest in buying the claims that remain.
Still holding to the end, I don't post much, but I read everything. My other holdings are doing very well like MFA. I like YOD so long as there is no conflict with China.
I wish you well, my friend, hard to believe we have been here nearly 5 years,
Best regards,
Mic
Here is a post I made you will find interesting since you live on the New Jersey coast:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82644599
Hi Jersey,
Here is a BK stock I am into. Take a look:
UWBKQ United Western Bancorp Inc.
I bought this a while back, and I have never posted on that board, but it is interesting to follow. Kind of like WAMU, in that they should have never been taken over! Very few shares too.
Good night,
Mic
Thanks Mic didn't want to make a last minute mistake. LOL
Just hope Lehman retires us all.
Cheers and truly appreciate all your insight.
HEY MIC, just caught your post. Saying hello and i feel GREAT about our positions.
We don't need to file anything. The payments are being made to senior note holders.
I posted that link because someone wanted to know what was being paid in the 1st distribution to creditors.
All is well here, just patiently waiting for the end game here.
I do not know what the LBHGP cusip number is. But there should be a placeholder number for them in your account since they do not trade.
Call your broker and you should get the answer.
Everything is fine here. Just patiently waiting and the news seems to be getting better.
Regards,
Mic
Join here for more Low Float Penny(AS limit).
http://investorshub.advfn.com/Penny-$$-Tiny-Float-*-Low(OS-&-AS)-24974/
All of my shares are in standard trading accounts, like VIVA says if we hit just a little. I would have to see my acct. Fast. Good to see you posting again MIC.
Let me know what you find out.
Some shares are already in a ROTH but I have a bunch in a standard trading/investment account, so they're vulnerable to the tax man bigtime! LOL
Keep in touch, I'll pass along what I find out as well.
It could be a VERY important decision if we score even alittle.
Cheers Mic !
I have most of my shares in a regular IRA. I was wondering if I should move it to a ROTH? Perhaps I will check with my broker to see how this can be done? At least it is in an IRA, my understanding is that you can only make dollar contributions into an IRA, but if you have an IRA it can be rolled into a ROTH, but I am not sure.
My mistake, it was an old message:
Hi Mic, in what?
I better check the boards, I played golf. LOL
Is it good?
LOL
Cheers
What has happened today? I don't really see anything?
Like a voice from the grave, none other than Lehman Brothers re-emerged from bankruptcy last week. After 1,368 days in Chapter 11, the company, of course, is a shell of its former self. Once the world's fourth-largest investment bank, with 25,000 employees, it now has fewer than 450 people sweeping up the remains. Its shares fetch about three cents each on the Pink Sheets, the marketplace for the woeful and misbegotten.
And while Lehman is no longer operating under the auspices of a bankruptcy judge, it's hardly a viable company at this point. It still has to pay creditors billions in claims, with the first $10.5 billion distribution set for April 17. In all, creditors stand to receive about $65 billion—about 20 cents on the dollar—and Lehman will be liquidating billions worth of real estate, securities and other assets for a long time to pay them off.
But deep in all the detritus lurk the seeds of a revival, of sorts. Lehman emerged from bankruptcy holding a potentially valuable thing—$55 billion in net operating losses, or NOLs. If the postbankruptcy entity that is Lehman has any future, all the losses it accumulated while in free fall will be the reason.
That's because Lehman could use the NOLs, along with whatever cash it's got, to merge with another profitable company. The NOLs would then be used to offset the income generated by the combined company and let it operate virtually tax-free for many, many years. The only limitation under tax law is that the NOLs would be good only if Lehman strikes mergers within its own industry—but, then again, “financial services” describes so many different companies, it's not as if Lehman would be starved for choices.
“The game plan would be to strike mergers over and over again to make best use of all those NOLs,” said William Brandt, an expert in restructuring failed companies and chief executive of Development Specialists Inc. He said Lehman could use its losses to acquire smaller banks or finance companies or even something sizable, like business lender CIT Group.
Ultimately, the big payday for Lehman's current investors would come when the new, highly tax-advantaged company is finally sold or—heaven forbid—taken public all over again. Mr. Brandt said this kind of rebirth is almost surely what the company's new board has in mind, and it's much easier to do this sort of delicate work away from the glare of a bankruptcy court.
“I understand it might sound strange to a lot of people,” Mr. Brandt said. “But if you're a vulture investor, Lehman is a very interesting opportunity.”
http://www.crainsnewyork.com/article/20120311/SUB/303119973
After bankruptcy, a Q and A from Lehmans site...
12)I just read that my stock was cancelled. When did this happen? Do I receive anything in exchange?
The Effective Date was March 6, 2012. When the LBHI common stock and preferred stock was cancelled on the Effective Date one new share of LBHI common stock was issued to a LBHI Plan Trust which will hold such share for the benefit of the holders of such former holders of LBHI common and preferred stock consistent with their former relative priority and economic entitlements. In place of your old shares, an escrow position was created to act as a placeholder in your account and to represent your beneficial interest in the LBHI Plan Trust and your indirect interest in the new share of LBHI common stock for any potential future distributions. The beneficial interests in the LBHI Plan Trust held by former LBHI stockholders are uncertificated, non-voting, and nontransferable other than by will or by the laws of descent and distribution. The escrow position will correspond to the number of old shares you held as of the Effective Date consistent with your former relative priority and economic entitlements.
13) Are any tax implications triggered by the cancellation of the stock?
You will need to consult with your tax professional or accountant regarding the tax implications.
14) I now hold a beneficial interest in the LBHI Plan Trust.
a. What does this mean? It means you have an escrow position or a
“placeholder” for any potential future distributions by the LBHI Plan Trust resulting from any distributions received by the LBHI Plan Trust in respect of the single share of LBHI common stock it holds.
b. Is it worth anything? The Plan states that in the event that all Allowed Claims in LBHI Classes 1 through 11 have been satisfied in full in accordance with the Bankruptcy Code and the Plan, each holder of an Equity Interest in LBHI may receive its share of any remaining assets of LBHI. At this time it is not anticipated that any distribution will be made to the LBHI Plan Trust or to any holder of an Equity Interest in LBHI. Additionally, the placeholder escrow position is non-transferable and non-voting.
c. Do I receive any evidence of this interest? The evidence is in the form of the escrow CUSIP position that will correspond to the number of old shares held as of the Effective Date consistent with their former relative priority and economic entitlements.
d. Will it show up on my brokerage statement? This depends on the firm, but generally the answer is yes, under an escrow CUSIP position that will mirror the number of old shares held as of the Effective Date consistent with their former relative priority and economic entitlements.
e. Can I trade it? No. The beneficial interests in the LBHI Plan Trust are non- transferable. The continuing rights of holders of Equity Interests (including through their interest in the LBHI Plan Trust or otherwise) shall be nontransferable except by will or under the laws of descent and distribution.
f. Can I vote it? No. The beneficial interests in the LBHI Plan Trust are non-voting g. Is it taxable? Do I need to report it anywhere? You will need to consult with
your tax professional or accountant regarding the tax implications.
15) What is an escrow CUSIP?
A CUSIP number is a unique identifier assigned to a particular security. An escrow CUSIP is a placeholder representing the amount of shares held by the former holders of equity interests or the principal amount held by former holders of notes. An escrow CUSIP is not an “official” security designation, and it is created solely for record-keeping purposes. The escrow CUSIP number shall only represent the right of such holder to receive potential future distributions under the Plan on account of the old or cancelled securities or as holders of beneficial interests in the LBHI Plan Trust.
16) As a former stockholder, am I entitled to a distribution?
If you held the old common stock or preferred stock of LBHI and, as a result, now hold a beneficial interest in the LBHI Plan Trust, after all Allowed Claims in LBHI Classes 1 through 11 have been satisfied in full in accordance with the Bankruptcy Coded and the Plan and the LBHI Plan Trust receives a distribution in respect of the single share of LBHI common stock it holds, you may receive a distribution in respect of your beneficial interest in the LBHI Plan Trust. At this time it is not anticipated that any distribution will be made to the LBHI Plan Trust or to any holder of an Equity Interest in LBHI. For all other Plan Classes, please refer to the Plan.
17) If a distribution is made to stockholders or holders of beneficial interest in the LBHI Plan Trust, how will I know?
If you held your Class 12 Interests in a brokerage account, the distribution will be deposited into your account. If you held your Class 12 Interest as a registered holder in your own name, notification will be made.
18) Can I change brokers?
Yes.
19) My broker does not want to hold my beneficial interest anymore. Can I convert to record name?
No. There will not be any mechanism for converting your position to record name.
20) I just moved. Should I submit a change of address? To whom?
Yes, you should submit a change of address. Where you send the change of address request depends, on where your claim or securities are held. When making the notification include your name on the account, your old address, your new address, date the change is effective and a phone or email address in the event there are questions, as well as any account numbers or other identifying information.
a. If you hold securities, either stock or bonds through a brokerage account you should contact your broker.
b. If you are a registered holder, holding the stock in your own name and do not hold it through a broker, please contact the stock transfer agent.
For Old Common Stock Computershare (formerly BYN Mellon) 1-800-824-5707
For Old Preferred Shares Computershare 1-877-498-8865
c. If you have a filed proof of claim, then you should notify Epiq the Claims and Noticing Agent for Lehman Brothers Holdings Inc. Write to:
Lehman Brothers Holdings Noticing Agent Epiq Bankruptcy Solutions
757 Third Avenue, 3rd Floor
New York, NY 10017
21) Where can I find more information about the wind-down?
After the Effective Date, pursuant to the Plan, the Plan Administrator shall wind-down, sell and otherwise liquidate assets of the Debtors and/or Debtor-Controlled Entities in accordance with Section 6.1(b)(iii) of the Plan. You may find additional information at www.lehman-docket.com.
22)I held preferred stock. Is my beneficial interest different than the beneficial interest that a common stockholder received?
The common stock and the preferred stock were both classified as Class 12 Equity Interests under the confirmed Plan and both are treated similarly under the Plan. The common stock and preferred stock shall maintain their former relative priority and economic entitlements.
23) What is happening to my Senior Notes?
The Senior Notes are in LBHI Plan Class 3 Senior Unsecured Claims, and the distribution for these will be paid through your bank or broker through the depository in which your position is held. An escrow CUSIP will also be established as a place holder in your account for any potential future distributions.
24)Does the Distribution Record Date (March 18, 2012) apply to beneficial holders of securities?
The Distribution Record Date of March 18, 2012 does NOT apply to most securities issued by LBHI. Distributions to LBHI-issued Senior Notes on the Master List of Securities or included in
My guess is 6 months for us to know how we will fare here. My hope is that they will issue new shares to CT owners in the remaining company.
I have been here more than 3 years now, so what is another year or so when you look at the big picture. LOL
There seems to be less 'corruption' in Lehman.
WaMu is just a mess of the legal system and big business.
It's truly disgusting if you ask me.
My take in this whole BK process however, is that 'spoils' should be shared amongst all classes to a certain extent. Senior Bonds should get the most but the rest of the investors shouldn't end up with Zero. Everyone lost so they all should recover something. This 100% first Absolute Priority is garbage in my opinion.
Lets see what we get. What's your timeframe for any recovery?
Months or many years?
Cheers to you Mic!
I have just the CT's. I did have all the other preferreds, but decided just to stick with the top of the food chain.
Is the Lehman play similar to WAMU? Which do you feel the most comfortable with?
Reward is too great.
I know it feels odd being without an Exit, but it's probably good. LOL
If money crept up to say 25-50c many may have pitched.
May get a lot more with luck in the future months/years.
Who knows.
Did you hold any Pref's or just CTs?
I've got them both.
Cheers
Yes, I have and I am surprised that the CT's were delisted. Now this would have eventually happened anyway IMO. I am holding these until the end, especially now that I no longer have that choice. LOL
I have alsways been hopefully optimistic, until proven otherwise.
This old zombie board is a good place to hang out if the other Lehman boards get removed.
Are you glad to still be a placeholder or do you wish you had made your exit>
Hey Mic, see the Lehman developments?
Cheers
IHGP--May just be starting, keep an eye on it. I plan to buy more LEH CT's from some of the IHGP profit.
MIC, i have to agree with you,,,,,GOOD LUCK !!!!!
Nothing has changed except for the better IMO. I bought to hold to the very end. In 2008 it looked like the end for Lehman, now much value has been restored that was once considered a total loss.
It has always been a lottery ticket once you buy it you don't expect a refund just before they pick the numbers. Any gains were speculative in the first place.
The Lehman lottery has always felt like a 50-50 chance, in that this is the chance of a lifetime for the owners of the CT shares.
Odds like this will never come again.
micmacpole--some are getting negative about leh. ct's, what do you say ?
My claim has been challenged repeatedly, but so far it has not been expumged.
Gotcha.
You know it was the GREED thing LOL
Cheers and hope all is fantastic.
I am content just to hold my CT shares. It is still too early to know if the regular joes will amount to anything IMO.
MIC, i dont know what i have without her help, THE TRUSTEE WAS SUPPOSED TO DO SOMETHING ON EVERYONES BEHALF ,, JOKE,, i just sent her a email. will let you know when she replys. i sure would like to know what happend with my claim. and no suprise to me, when i contacted the claims agent around the same time as my contact with her. they were launching a investigation as to my claim, and they also would get back to me. to date , ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzz,,,,,,LOL
Do you really have nothing without her help? It is her job to challenge and have claims disallowed on behalf of the debtors. I would press her for answers as to what happened to your claim files.
Did you get proof of delivery from the post office?
Followers
|
9
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
298
|
Created
|
09/02/09
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |