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Cotton - How should I compare and assess these two situations you have presented in that post? Your thoughts more plainly laid out would be most helpful.
https://tisegroup.com/market/securities/1357
https://casetext.com/case/alesco-preferred-funding-viii-ltd-v-acp-re-ltd-2
https://de.wikipedia.org/wiki/Alesco
Use a song. You might be surprised.
Cotton - Supplied the link for your post so there's a bit of context. It's not difficult. Try harder.
https://www.rns-pdf.londonstockexchange.com/rns/8660E_1-2024-9-19.pdf
Brant Kuehn took a position elsewhere, and removed his name as the LBHI counsel at the end of July. Now we see James H.M. Sprayregen is removed from the council as well.
What does this mean? Is LBHI taking steps to wind down finally?
Appendix 3.
Comparative EOS
Notes Base Case Recovery High Case Recovery
£'m £'m
Estimated surplus available to LBH subordinated creditors 1 132 327
LP I LP III LP III Totals LP I LP II LP III Totals
£'m £'m £'m £'m £'m £'m £'m £'m
Scenario 1 - GP1 wins PLI1 (Tier Y) 26.8 41.7 55.5 124.1 45.8 71.1 94.7 211.5
Scenario 1 - GP1 wins PLI1 (Tier Z) - - - - 9.3 14.4 19.2 42.8
Scenario 1 - GP1 wins PLI1 (Tier Y and Tier Z) totals 2 26.8 41.7 55.5 124.1 55.0 85.5 113.9 254.3
Scenario 2 - GP1 loses PLI1 (Tier Y) - - - - - - - -
Scenario 2 - GP1 loses PLI1 (Tier Z) - - - - 2.6 4.1 5.5 12.2
Scenario 2 - GP1 loses PLI1 (Tier Y and Tier Z) totals 3 - - - - 2.6 4.1 5.5 12.2
Scenario 3 - Proposed terms implemented (Tier Y) 21.1 32.7 43.6 97.4 35.9 55.8 74.3 166.1
Scenario 3 - Proposed terms implemented (Tier Z) - - - - 8.8 13.7 18.3 40.8
Scenario 3 - Proposed terms implemented (Tier Y and Tier Z) totals 4 21.1 32.7 43.6 97.4 44.8 69.5 92.6 206.9
Notes
2. Scenario 1 - Estimated recoveries available to ECAPS Accountholders if GP1 wins Priority Legal Issue 1 ("PLI1") on appeal.
3. Scenario 2 - Estimated recoveries available to ECAPS Accountholders if GP1 loses PLI1 on appeal.
5. The above calculations do not take costs (past or future) into consideration.
1. Estimated funds available to LBH's subordinated creditors as per LBH's March 2024 estimated outcome statement. All calculations in scenarios 1 to 3 work on the basis that
the remaining funds available to LBH's subordinated creditors will be £132m in the 'Base' case and £327m in the 'High' case, which are subject to the assumptions set out in
LBH's March 2024 update to creditors. GP1's realisations to date in respect of LP III are not reflected in the above calculations.
4. Scenario 3 - Estimated recoveries available to Accountholders if GP1 enters into the deal being proposed in the term sheet at Appendix 2.
It comes in dribs and drabs
You get the general mood around here joyce c. I don't need to draw you a picture.
Enjoy your weekend. Last day of summer today. I am headed off for The Berkshires.
newflow thanks for your feedback,
Toogood thanks for your valuable input, I am really indebted to you been following you since 6 foot flat days in yahoo and got into Js mainly because of your input in those days.
CTs were extremely illiquid and expensive, I managed to get a decent quantity of Js @ 5c avg cost
JHawg - No one posting.
And that changed rather quickly. 🤣
four sisters
CT"s ...... ?
LB..P..= ?$?
cool post..ty ron
Does keep it lively
Asset Backed Securities.
ABS Trusts are asset backed.
That simple!
The ABS are not a liability of the Parent LBH, or a sub.
The responsibility lives with the Trust/Trustee.
The ABS became bonds with the securitization of the Trusts that were insured by Derivative Contracts as insurance policies to cover all the losses of the Trust.
This whole long game is about the derivative insurance contracts needing time to generate the money to cover the contracts.
LIBOR is nearing completion.
I’m expecting similar numbers from my LB P’s as I am from my WMI P’s.
2.1 face, minimum from the Performance Payments from the Trust associated with the ABS Trust.
I have proven my numbers multiple times.
Similar numbers for all LB ABS Securities.
Same here with the four sisters.
Ron
The overview page of the LBHI ch11 Epiq system listed two legal cases one of which is now the fully settled ECAPS litigation. The only thing that is left is the case between LBIE and Assured Guaranty. Is this the only one that hold us back? I hope that the request for an appeal is denied even if it adversely affects the recovery for LBHI. GLTA
RE: …. Educate!…..
Learn a little business fundamentals. I’m not here to educate anyone. It’s been discussed in this board so many times now.
Counsel to the Joint Liquidators.
NOTICE OF WITHDRAWAL OF APPEARANCE AS COUNSEL
AND REQUEST FOR REMOVAL FROM COURT MATRIX AND SERVICE LIST
PLEASE TAKE NOTICE that James H.M. Sprayregen hereby withdraws as counsel to the Joint Liquidators in these chapter 11 cases and the Joint Liquidators requests that his name be removed from the Court’s mailing matrix and service list for these chapter 11 cases.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175093658
It is finished!
Very good news!!!
Ron
how do you know?. you know NADA.
RE: SAME SHOULD BE APPLICABLE TO CTs IMO.
YES! If LBHI IS IN THE SAME SCENARIO.
BUT LBHI IS BROKE!!!! No money, No dinero! NADA!!
Just wait and hope LBHI will continue as a going concern.
Priority of subordinated claims against LB Holdings Intermediate 2 Limited (“LBHI2”)
and LBH
4.8 As explained in previous update notices, the subordinated claims of LBH against
LBHI2, and of LP I, LP II, and LP III against LBH were found by the Court of Appeal to
rank ahead of the respective claims of Scottish LP 3 and Lehman Brothers Holdings
Inc. (“LBHI”). An application by LBHI to the Supreme Court for permission to appeal
was not successful. The litigation that concluded in the Court of Appeal is hereinafter
referred to as the “ECAPS 1 Applications” or “ECAPS 1”.
Page 5/81
https://www.rns-pdf.londonstockexchange.com/rns/8664E_1-2024-9-19.pdf
SAME SHOULD BE APPLICABLE TO CTs IMO.
RE: ….of this UK LBH distribution…
LBHI is not affected by it. UK LBH is a non controlled affiliate. LBHI is only concern on how much money will get after Ecaps is paid.
LBHI will just continue on its own POR to complete.
Toogood and Edbk would appreciate your analysis of this UK LBH distribution and whether US CTs and Js and other preferred holders also could get similar proceeds.
Since most of us bought in the below 20c, what would be the proceeds we could expect based on the UK pdf below -- <$10/share, or more including previously accumulated interest for the CTs.
http://www.rns-pdf.londonstockexchange.com/rns/8664E_1-2024-9-19.pdf
Lehman Brothers UK Capital Funding IV LP: Notice to the Holders of the Preferred Securities
https://finance.yahoo.com/news/lehman-brothers-uk-capital-funding-121200926.html
LONDON, Sept. 19, 2024 (GLOBE NEWSWIRE) --
NOTICE TO THE HOLDERS OF:
EUR 200,000,000 EURO FIXED RATE ENHANCED CAPITAL ADVANTAGED PREFERRED SECURITIES ("LP IV ECAPS")
ISSUER: LEHMAN BROTHERS UK CAPITAL FUNDING IV LP ("LP IV")
ISIN: XS0282978666
LIQUIDATION OF LB GP NO.1 LTD ("the Company") AND IMPLICATIONS FOR HOLDERS OF LP IV ECAPS
Your attention is drawn to the formal notice contained in the PDF link below concerning the Company, LP IV and the LP IV ECAPS. In order to view the formal notice, it is recommended that you copy and paste the link into your browser.
http://www.rns-pdf.londonstockexchange.com/rns/8664E_1-2024-9-19.pdf
Would this be the same in the US for our CT’s?
Lehman Brothers UK Capital Funding IV LP: Notice to the Holders of the Preferred Securities
https://finance.yahoo.com/news/lehman-brothers-uk-capital-funding-121200926.html
LONDON, Sept. 19, 2024 (GLOBE NEWSWIRE) --
NOTICE TO THE HOLDERS OF:
EUR 200,000,000 EURO FIXED RATE ENHANCED CAPITAL ADVANTAGED PREFERRED SECURITIES ("LP IV ECAPS")
ISSUER: LEHMAN BROTHERS UK CAPITAL FUNDING IV LP ("LP IV")
ISIN: XS0282978666
LIQUIDATION OF LB GP NO.1 LTD ("the Company") AND IMPLICATIONS FOR HOLDERS OF LP IV ECAPS
Your attention is drawn to the formal notice contained in the PDF link below concerning the Company, LP IV and the LP IV ECAPS. In order to view the formal notice, it is recommended that you copy and paste the link into your browser.
http://www.rns-pdf.londonstockexchange.com/rns/8664E_1-2024-9-19.pdf
RE: That's the thing. NO ONE IS GOING TO INJECT CAPITAL!!!
Oops!!! YOUR CRYSTAL BALL IS IN LOW BAT…
😝 😝 😝
RE: That's the thing. NO ONE IS GOING TO INJECT CAPITAL!!!
WARREN WILL…. 😂 😆
MY FRIEND ELON ALSO… 😝 😆
'Hail Mary'? Obviously you don't know all the 'SIV's into which LBHI stashed all its Real Estate Holdings...Heck. They even had an SIV named after my city in India where they bought holdings of Buildings in an SEZ, I was blown away when I discovered that....Not to mention of tons of RE all along West Coast, Europe , Singapore, Middle East etc...
Sounds like a hail mary pass.
Umm... Err... Do you know something called 'BK Remote Safe Harbor Assets' ???. Don't bother to answer...
ha. no. that was joe. I'm not him, but I'm starting to think he was right...
Look, i've followed this for years now, and nothing has happened.... I seriously think nothing will.
Convince me otherwise.
Are you that same guy from Atlanta (forgot his 'handle') who said his house burnt and said he wanted to post here to 'save us' from 'having hope'???
HAHA....
I thought something good happened. The flurry of posts.
RE: you’ll need a person like cheese wiz to teach you….
——//——//——
HEY CHEESE WIZ!!! WHERE ARE YOU??
SOMEONE HERE NEEDS TO LEARN.
I KNOW YOURE THE ONE WITH A LOT OF PATIENCE TO TEACH ANYONE WITH A NARROWED MINDSET.. 😂 😝
RE: Any idea how much $$ that would take?
—-//—-//——
Enough of course.
RE: There's still 100B+ in other claims by debt holders.
—-//——//—-
I don’t try to educate anyone with a narrowed mindset.. you’ll need a person like cheese wiz to teach you how the debt will be handed by a wise business man.
😆 😂
what's your point? Why would this matter?
There's still 100B+ in other claims by debt holders.
You people are crazy. Get out of your mom's basements.
"UNLESS IF SOMEONE WILL CAPITALIZE IT."
Any idea how much $$ that would take?
That's the thing. NO ONE IS GOING TO INJECT CAPITAL!!!
WHY do you keep telling yourself that? It's not going to happen.
"Why are you still here?!!"
Says the person coming here to post.....LOL!
RE: Once the juice is fullllly squeezed out, this is going to go to Ch. 7.
—-//——-//——-
DO YOU KNOW THAT THERE IS A 31B CLAIM BY LEHMAN AGAINST ITSELF??
ASK MY FRIEND WARREN IF HE WILL CAPITALIZE IT..
😂 😂 😆
RE: Once the juice is fullllly squeezed out, this is going to go to Ch. 7.
—-////—////————
UNLESS IF SOMEONE WILL CAPITALIZE IT.
HA HA!😆 😂
This Nuke Message brought to you by The other Fascits and Communist Party members of Biden and Harris administraitors. IMO
Okay, I'm intrigued. Is this board so dry it could turn a desert oasis into a dust bowl?
or Just add Water
Once the juice is fullllly squeezed out, this is going to go to Ch. 7.
You have no claims. You have no recourse. Why are you still here?!!
Yea, i don't. There's no assets. They have 1.6B in assets against 128B in liabilities (debts yet to be paid). You people are blind!
Yea, i don't. There's no assets. They have 1.6B in assets against 128B in liabilities (debts yet to be paid). You people are blind!
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IPO - 1/7/2005 - 8.00 Million Shares @ $25.00/share.
Previous Ticker Symbol: LEH-N Changed: 9/17/08
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