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Thanks. Why are you here now then?
4 years ago? No I didn't. They were spouting off about bidding on over 100 million in construction jobs.
They should have revoked it a lot sooner before any of us got into it. About 4 years too late!
So that's it I suppose? There's no recourse for duped investors such as ourselves?
Can anyone affirm or refute what joe has stated?
Thanks for the response. I do hope that it was an error.
I'm surprised that there still has not been any input on Robigus' post about the $80 Billion payout figure. Anyone?
Wow that's a bit concerning.
Everyone keeps posting about this news but I don't see how it relates to shareholders in any way.
Strange. Why not just terminate the stock permanently instead of for a short period of time?
Good gracious 9/2014? That lady doesn't want to enforce anything!
nranger, how do you know that Marin was considered?
What's the word?
I vote no shares as well. Nothing significant or substantial, and I use those two terms very loosely, has occurred to justify gifting of shares for payment. Why should they pat themselves on the back for a job well done when the stock has increased a humorous $0.04 or 4% within 1.5 years time? Ridiculous crooks.
Ain't that the truth. Been almost a year and a half since conversion and we're up $0.02?! Way to go BOD and the infamous hedgies, you are the best at implementing opportunities to make money. NOT!
How is there suddenly a random day with close to 900K in volume and then drop to 130K in volume the next when both days had no news? Doesn't make sense.
Indeed that may possibly be the case. They are no different from a two bit hustler or scumbag thief that steals from the elderly.
That's what I don't get. Will creditors agree to their percentage, be it 20% or whatever it is, knowing that after the POR is paid out, there will still be billions left? Doesn't make sense to me. However, if true, that'll be wonderful.
Susman Godfrey billing ahead of time for services through 7-31? Hard to anticipate billables into the future unless your just sitting back and collecting. Could be a misprint as well. Also, Weil having close to $1.2 million in expenses for 3 months? Must have been some great food, trips, vacations, etc... on the trust's dime.
Agree. There's no need for this to even take another year. It's been dragging on long enough for shareholders.
That's $480. I would try and save that too.
Why 5 years?
Mik, I know that you've been pessimistic about the CTs but how do you feel about the preferreds?
I second that.
2016??? Screw that! That would definitely be a disservice to shareholders.
Any particular reason as to why?
The guarantee goes out the window (this comes
from the prospectus) if:
Lehman Brothers Holdings is not required to pay you under the guarantee if the trust does not have cash available.
The ability of the trust to make payments on the preferred securities is solely dependent upon Lehman Brothers Holdings making the related payments on the junior subordinated debt securities when due.
If Lehman Brothers Holdings defaults on its obligations to make payments on the junior subordinated debt securities, the trust will not have sufficient funds to make payments on the preferred securities. In those circumstances, you will not be able to rely upon the guarantee for payment of these amounts.
CT's aren't bulletproof. Case in point, Wamu Piers aka trust pfd shares.
Sure it's great if you're able to unload shares. However, as we've seen as of late, volume is not exactly there.
Not to burst your bubble but your talking a few grand worth that has traded, and on the grey market for that matter.
Stock, I think we didn't receive it because we were deemed to reject the plan, right?
Does anyone know how much it'll be to pay off cts?
WE are 4 1/2 years in...what's another year or 3???
Aren't NOLs the asset of the holding company after discharge? Same thing applied to WMI, right?
So they are sitting in the OBS Trust as well?
alot of former employee's stock are tied up in this OBS also, so I'm glad we are along for the ride with them
and not a way of saying only holders prior to 9/15/2008 will be paid
What was it before?
Under the settlement outlined Tuesday in a bankruptcy court filing, Lehman's holding company will receive a claim against its former subsidiary Lehman Brothers Finance AG of 9.5 billion Swiss francs ($10.1 billion). Lehman Brothers Finance, or LBF, will also transfer to the holding company's estate more than $7.7 billion in claims it has filed against Lehman's subsidiaries.
So they got approx. $980K in today's value. Interesting.