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.
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.
Thank you EI!!
Do we have a new ticker symbol yet for the new co?
big date February 16, 2018
Further, the 210 DIP Order approved the previously disclosed milestones related to the 210 DIP Facility and Equity Commitment, in each case to be satisfied satisfactorily to Lenders, including: (i) the Company’s filing, in each case in form satisfactory to Lenders, of a plan of reorganization in the Chapter 11 Proceedings (the “Plan of Reorganization”) and related disclosure statement (such disclosure statement, the “Disclosure Statement”) with the Bankruptcy Court on or before February 16, 2018; (ii) entry of an order by the Bankruptcy Court approving the Disclosure Statement on or before March 29, 2018 (subject to court availability); (iii) the parties’ execution of definitive documents related to the Equity Commitment no later than five days prior to the hearing of the Bankruptcy Court to consider confirmation of the Plan of Reorganization; (iv) entry of the Confirmation Order on or before May 1, 2018 (subject to court availability); and (v) the Company’s satisfaction of all conditions to consummate the Plan of Reorganization no later than ten days after the entry of the Confirmation Order.
IR indicated that old equity stays in the game.
Do you have a doc number?
Can you be specific?
I called IR to confirm my DD but who’s to say 210 capital and GS can resurrect these NOL’s since SGGH couldn’t do it and they started with 100 million in equity?
http://www.realindustryinc.com/#contact
tel:805 409-4340
Call them. I was driving when I spoke with them and didn’t write down the exact number of shares outstanding.
The highlight from the call was telling me 210 capital has a history of NOL plays and Debtor had no plans to cancel equity. And GS will be part of reorg co.
talked to IR today
DIP financing is comprised of an arm of Goldman Sacs and a company called 210 capital they dabble in BK company's I heard with NOL's
There is no plans to cancel equity and I guess a combination of GS and 210 will take up to 49% of the existing equity for 17.5 million $ That will leave NOL's in tact and 51% of equity for us.
We will know how much the recyclers will bring by Jan 31 SGGH paid somewhere in the 550 million $ range they don't expect equity to gain anything from sale and possibly debt will take a hit.
Will see how this plays out.
If they can just find a profitable company... Unlike others who have tried.
COSMED North American breaker co real industries. LOL NOPE
ONLY IMHO!
They had a guy on the BOD several years ago wrote a book about some process he put in at Caterpillar and was supposed to implement at RELY some reason he left and the stock never stopped dropping. I was told by someone that the signature guy’s would run this into the ground. They didn’t disappoint.
You see any value with a GS hookup with the NOL’s
I know they can’t cancel commons and keep NOL’s
Boy equity is diluted
Started out with 100 million in equity with at the time a value at $1.00 a share now I calculate .17 a share
Once scrape metal is sold off.
A shame!
Thoughts
Wow
You going to hang around for another Re org and those NOL’s lol
This should of happened the first BK, GS I mean.. or Ranch Capital.
I sure like GS here with the NOL’s and 10 years of better management
What do you think?
Thanks!!
EI
Weren’t you part of the original group of us when FMT went FMNTQ then SGGH?
After going through all this back in 2010 or so as I remember equity has to remain in tact in order to utilize the NOL’s
If this comes out of BK with GS attached this is huge.
What is sad we had a chance to use a company called Ranch capital that was going to develop residential real estate in CA and we turned them down for Signature group and they BK’d again lol
I see GS as a golden opportunity for what’s left of the old Fremont General Corporation. Jim would be happy to hear..
New Equity and Credit Facility Commitment
In addition to the 210 DIP Financing, pursuant to the Equity Commitment, Lenders have committed to purchase shares of common stock on the effective date of the Plan of Reorganization for up to $17.5 million, such that following such purchase, Lenders will own 45 – 49% (to be determined by the parties based on applicable tax limitations) of the common stock of the reorganized Company. Further, the Lenders have committed to provide or arrange the Post-Reorganization Credit Facility to enable the Company to pursue its business plan, including the acquisition of operating businesses.
Just doesn’t look as if they can/will delete equity if they want the NOL’s
I was with this when FMNTQ went to SGGH now another BK to RELYQ
But this one is HUGE!
arm of Goldman Sachs wants the NOL’s in order for that to happen equity has to stay in tact and GS can take up to 49% of Company purchasing the common stock.
They want this out of BK by March 31 2018 with 5 million to invest and a board seat
We started off with 100 million and the folks at SGGH lost most of that.
I have no word on the amount they will get for the aluminum co sell or if it’s still for sale?
Still reading updates info realesed yesterday so far this could be a diamond in the rough
Ya’ll still here?
Dow at 23k
I see your still on a loosing streak!!
Fishing’s great on my private isle!
I am on my 2nd million after dropping this POS like a hot potatoe!
Bought the wife a Mercedes ya know one of those bi turbo rockets ships!!
She loves it!!
Take care ya’ll in between my spa day ,fishing ,and trips in my yacht
I’ll try to stop in and see how all ya’s a doing!!
80’s and sunny!!
TTFN!!
Giggle giggle
Pretty good sign that someone is full of BS!
You know as good as I the CT's have no cash available to pay the CT.
If you guys do hold that amount.. like I told Jerz you could have tripled it elsewhere.
Such nonesense!
On the other hand Jerz my post are clear and to the point!
Debtor doesn't have enough cash to pay CT's.
Pretty simple stuff IMHO.
Once the dump stops on the markets if I were you I would remove myself from this sunken ship and buy a good bank stock. No need to spend years away from your family reading garbage.
Did you know when this started the DOW was under 10k and was as high just recently as 22k while you spend a lifetime here waiting for nothing? Just think Jerz all that time focusing on becoming a true empty bag holder you could of invested in any company on the s&p and doubled your investment.
This is a public service announcement for the learning no no sorry investing impaired.
Just wanted to check I have tripled my investments since leaving here. I now live on my own tropical island drinking exotic drinks and LOL reading this board. How funny..
Good day!!
You are missing nothing!
The QTRLY reports back you up.
They have no cash to pay CT's
Good find and no speculation just facts. That so many peeps here miss!
No have a banana!
Lmao
I am a tired ninny. We been run through the mill
NO YOU HAVE NOT!
You just failed to read the Qrtly financials that told you all along you get nothing!
I can't feel sorry for you!!!
Celebrating a country that everyone tried to dismantle and only the strong will survive!!
Hats off to the arm forces protecting our great country!
And the men and women in Blue that protect us too!
Happy 4th
MAGA!!
lol I know how this ends!!
All ya gotta do is read the Qrtly financials and see the asset and liabilities numbers.
It won't end well for the bag holders here..
But don't let me be the one who told ya so
Read the Qrtly financial statements!!
Giggle giggle
Such a (((waist)))of my time!
Lmao
Now go bananas!
Ask them about the MOR and latest QTRLY reports from LBHI this sends them bananas.
See how many attacked me for just asking to post an MOR or QTRLY reports?
Please don't waist either your time or money here.
It a scam!!!
Giggle giggle!!!
I don't think anyone can afford high $ water cause they have sit here for years now and continue to loose money daily.
Rather sad isn't?
Ask them about the MOR and latest QTRLY reports from LBHI this sends them bananas.
Lol
Stock market is up like 2,000% and you sit here?
Lol
Sorry I just had to!
Giggle giggle
You guys crack me up!
How many years now?
Story tellers only, with no reason to read the MOR or Qrtly reports.
Check back in a few more years.
Zzzzzzzzz
Why doesn't the MOR and Qrtly reports get posted here?
How much cash does LBHI really have?
Last I checked yuse still in the negative giggle giggle
Amazing ya'll still here?
Nightly nite!!!!
You all still haven't read the latest balance sheet have YOU?
I love this board!!!!!!
You guys keep me LMAO !!
Whenever I need a good LOL I just pop over and giggle for hours.
Who was the BRAIN-E-ACK that bought the 250 shares yesterday over .20?
GEEZ!!
LMAO AT YA'LL!!!!!
CARRY ON with your paid in full BS..
it ain't gonna happen!!
GIGGLE GIGGLE!
oppsie
But Cotton said weeks ago he was threw..
still here....
more NONSENSE!
ahh a penny flipper with gut feels...
The worst kind!
lol!!
Geez man, why perpetuate this nonsense???
It ain't just him!!!!!
This is the house nonsense built.
What is really frustrating to to disprove it and 3 month later it's right back again lol!!
Good thing is there are only so many derivative law suits to settle the BOOM!
lights out!
I can't wait to see how they handle sub cents!
LOL
YOU DON'T THINK COTTONISKING PLAYED A ROLL??????
You guys are so full of BS!
LOL again at U!!!!
"I've never truly understood what a CT is, so I stayed away from owning anything I don't understand."
Well that explains volumes here!
You can't set here and tell peeps they are getting paid based on tit and tat but at the end of the day you never owned a share?
I have to be honest!!
Telling stories to get peeps to buy a stock isn't right and then to tell them after they have lost over 90 % of the value you never owned a share..
Can we talk about character?
LMAO at U too!
I have nothing more than a gut feeling that brought me into Lehman,
May I?
l m a o at u!
Ya know that is totally obvious to the ones whom do the DD around here!
You crack me up!
But just from an investor point of view...
But let me ask ya ??????
Who told you to sell when the POS was at .30 huh?
My guess, March/April 2017.
VERY VERY DOUBTFUL as the pending derivative lawsuits are expected to take years to settle I am hearing at least 2019 2020 they are not even sure that is enough time to settle.
Oh well as you might remember I told ya to sell at .30 today we see the CT's dropping to the .05 cent range.
Soon to be sub penny as everyone comes to realize they really are over 199 billion in the hole with only 25 billion in legal issues left...
LMAO!
You must have missed the TOTAL LIQUIDATION PART?
Debtor figures on about 3 more years to solve the derivative suits.
There is no set date to end POR. There can't be due to the amt of lawsuits.
I can tell you that once they are resolved and the cash is dispersed to the creditors that class 10B (CT's claim) and class 12 (share) will be canceled.
I told you all what was going to happen today.
Just as I told you all to sell at .30
No cash no guarantee no CT's just a claim in a liquidating bankruptcy that is 100 billion out of the money.
Just read the March 31 2016 balance sheet!
LMAO!
Here is what happens..
Once the litigation completes and the remaining assets are solved the creditors senior to class 10b get thier cut and the rest get canceled.
Unless those 25 billion $ derivatives suits net 75 billion more than they expected? LOL
This goes on another 2 to 3 years easy but not in class 10b nor class 12 favor.
You don't have enough cash!!!!
Read the March 31 BS!
Read what the debtor said about the remaining assets!
Lmao!
LMAO Lehman has no Trust preferred security.. If they did they would have had to cash them in Jan 2016. THANK YOU DUDD FRANK least it proved one thing other than freezing the economy for the next 3 years!
THIS IS ONLY A CLAIM IN CLASS 10B IN LBHI COMPLETE LIQUIDATION BANKRUPTCY
THAT AS OF MARCH 31 2016 HAS 25 BILLION IN ASSETS AND 199 BILLION IN LIABILITIES
assets remaining are lawsuits from derivative plays that will take years to resolve and billion in legal fees.
What's left after that?
C A N C E L A T I O N!
Don't read anymore into it than what it is!!!!
L O L!!!!!!!!!!!!!!!!!!!!!!!!
The way I read that is commons and preferreds get a very small portion of newco
Could you please either copy and paste or share a link in what you read that would give you any idea class 10B or class 12 will get a dime when the debtor as of March 31 had 200 billion in liabilities with 25 billion in assets.
The remaining assets are not money making business they are just lawsuits so I can't wait to read your theory on how this company pulls out of this and gives back money to class 12?
Lehman Brothers Hold (LEHKQ)
0.05 ? 0.0 (0.00%)
Volume: 0 @- ET
FIVE FIVE FIVE CENT TO GO!!!
LMAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Equity Interests receiving such New Securities shall be deemed satisfied to the extent of the value of the New Securities.
THE NEW SECURITIES WILL HAVE NO VALUE AS THE DEBTOR LBHI IS WELL OVER 100 BILLION SHORT ON CASH!
CASH IS KING!
When your BK liquidating company is 199 billion in the hidy hole your chance at any pay to equity is LIKE a snowball(S) chance in HELL!
GOLDEN ARCHES AND SWEET DREAMS!
LMAO PUMP AND DUMP!
The fiduciary responsibility argument is a separate thing.
Fiduciary responsibility to what?
CT's?
If they existed we can talk about it!
However if the CT's existed they would have been called back in Jan 2016 by DUDD FRANK.
You are asking for Fiduciary Responsibility for a claim (only) in a chapter 11 liquidating BK?
They have no Fiduciary responsibility for the claim. If you read the POR and how class 10B is treated then referenced back to the Balance sheet you would see the problem. Coupled with Dudd Frank they NO LONGER EXIST as a CT but as a claim in class 10B.
The questions asked over and over why they still trade?
That is the fiduciary responsibility to keep them alive until the last paper clip is liquidated then POOF! they disappear.. Like Magic!
Even if they did exist who's gonna cover for them? They are 100 billion short on cash. Even the math won't work! Hint: that is why they trade in the single digits ;)