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It's true before exit of BK according to POR. However, after BK, the Lehman2 is established, it is a totally new company. POR no long governs the new company, and how the new shares distributed as well.
FULLY AGREED
Also, if nobody would contribute the operating fund initially, NOL / Lehman2 goes nowhere.
Someone said there is difference in terms of cts between WaMu and Lehman. I think that is the theory of cotton's point, customers vs affiliates. One way or the other, we are golden, look forward to see in 2017.
GLTA
No, all WaMu creditors higher than cts were paid in full. Therefore, there is no arguments. Cts became the first to grab whatever. Since there has no money, HFs contributed $200 millions in loans?? to start the wamu2.
Those HFs were sophiscated, and well calculated because they knew there are MBS in $165b in accordance with LG. If they could take over the entire wamu2, it's great. Therefore, first, paid off all creditors in high status. Then gave away all the assets to JPM in order to show there is no extra money to pay cts. Whatever the NOL just barely paid off cts.
Per the case of WaMu, the cts are better than all preferreds, p and k. If those HF had not been caught, they would have had all the wamu2 per POR6. Even HFs would like to get rids of the equity owners who had less than $2millions. Unfortunately, HFs were lost, and then we have POR7. That is because cts (class 16) have higher priority than preferreds such vs 19 (preferreds), and 22 (commons).
In order to protect NOL, old equities must have 51% in stake of new Lehman.
IMHO! If our NOL is worth $50b, then the market value is around $4b or 8%.' The equities should get $2.01b. Then, among all equities that cts should get $1.2b, and the balance are shared by others, such as preferreds, and commons in an agreed portion.
Moreover, I wish that cts could take all the 51% of the Lehman2 or are equal to the market value of $1.2 billion. Anything left will goes to Ines. She must be happy if there is anything there before we are paid in full.
Yes, Wamuq's common and converted into new shares.
Wahuq's ct, and been set by judge for a fixed price @9.57/share due inside trading. Otherwise, wahuq could take wamu2.
Yes, I am with you. I am surely satisfied.
I'm not sure that I understand this.
Does it mean that all the new securities of Lamco go to creditors, including us 10b? All preferred and commons are gone w/o anything.
TIA
Joe, during the WaMu's BK, why those 4 dirty HFs managed inside trading wahuq that was a sort of cts. Of course, they had been caught and forced to cell all of them. The reason that was to have all the control of WaMu2 through the nature of cts. It is a hybrid of both equity and credit.
The longer is worse for us. Judges take their bloody time to search over all the excuses for the corrupt gov.
Buffett could be a good candidate as if he would like moving into financial arena.
If Lamco follows the same methods of distributing new shares based on NOL, Cts are the biggest winner among all.
How could she be "up"?
You're right, commons only get after cts are paid in full. But, help her to recoup her loss, such as average her costs down, please.
Why do you so ruled to say her commons are ZERO. Do not forget she spent One dollar per share. As you did before, please help her to recoup some of her lost.
IMHO, we will be rewarded 2.5% of FV initially, and market value will soon be doubled within shortly.
Really?
I thought Ine started acquiring more and more cts to average down her investment in equities. Doesn't she? She actually is very smart to recoup her loss.
By Ine?
I told everyone before, I have 80K cts about $0.023/share. I reported years ago, no increased nor reduced.
Everybody says so. I felt so bad if you had done so. Now, if you had average it with cts, then you would have less loss. I am glad you took jerseyhwng's advice.
That is excellent. I think that she took Jerseyhawg's advice to recoup her loss in commons. Good actions for her!!!
Guess 1.9% as federal judge rate.
Just signed, great offer.
Good observation. Go escrow.
Sorry, it is my bad. The info was showed in the Bloomberg, not Edgar. The background was the reply to Modicai (#44229) on 12/13/2015.
The previous record showed that WMAAC spelled out the "subsidiary of JPM". The wording's gone. I may miss something.
Need your expertise. I did not find WaMU Assets Acceptance Co under JPM's subsidiary anymore. It used to be there. Also, WMAAC does not show it as well in Edgar. Do you know why?
Thanks.
Till all assets are liquidated about 3 years later.
But, the status of "Lehman brother holding inc" is not closed.
Yes, agreed, from BNY to 3-10A.
Just curious, if Judge Sullivan approved Cotton's letter, money would flow from JPM-BNY-us, or other ways? Tks
Human's mind always have hope and worry co-existed. Nothing wrong here as both are naturally born. Do not grasp either one because they are the source of karma.
Basically, it is a terminal which provides all the information related to financial decision makers by Bloomberg on time. Certainly, all traders use it. Back to 80's, it costs $3,000/ month to a trader. That business make the first buck of gold for Bloomberg.
Cotton mentioned he has to do with software, so I believe he can access this terminal free by customers in order to utilize / link those financial information for specific purposes. Also, any court decisions will be reported simultaneously on first hand by Bloomberg.
I'm curious how do you know Ines bought common @1.00/share? Really, spent $1 mil to do it? How could she do that?
Thank you very much.
Could the JPM be a co-debtor? THanks for your opinion.