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wow, another 460,000 trade on Fs... Lets move them up!
Yes sir, just saw that come across. Go Lehman!
All, I have not seen any information of canceling any Lehman stocks in the news or any of the BK documents. Can we please move forward on our discussions? Please read the document that I posted. It's worth reading.
In regards to the PPS, 20,000 shares traded today is chump change.
I sure like what I see across all classes. Let's move them up!!!
Go Lehman Brothers!!!
Go Lehman!!! Show us the balance sheet...
6030 12/3/2009 Notice of Withdrawal of Stipulation and Order Between Barclays Capital Inc. and JPMorgan Chase Bank, N.A. (related document(s)[5953]) filed by Amy R. Wolf on behalf of JPMORGAN CHASE BANK, N.A.. (Wolf, Amy)
Debtor: Lehman Brothers Holdings Inc.
Related: 5953
Need to find out in more detail what this means... Anyone?
http://chap11.epiqsystems.com/viewdocument.aspx?DocumentPk=ecf6a7f8-fe69-4a03-838d-0d0450f329cb
Someone is loading 25,000 and 50,000 blocks. Nice!!!!
Nice size orders being filled.
I see a lot of transfers and withdraw of claims dockets today.
That balance sheet should look pretty good. I hope we get it soon.
I say late money, not smart money :P We are the smart money since we bought below this price.
Just Curious... Are you folks having problems getting filled or you have no interest in the Ps?
Posted by me... on lehmq.
Folks, you should know by now if you are investing in this company the payouts. Please do your own DD at http://www.quantumonline.com/
I can't force you to drink, but I can lead you to the water.
Please note I am not pushing or pumping a specific class, but you might want to rethink where you are placing your hard earned money.
Per the prospectus, CTs and Preferreds will get paid first... period.
Folks, you should know by now if you are investing in this company the payouts. Please do your own DD at http://www.quantumonline.com/
I can't force you to drink, but I can lead you to the water.
Please note I am not pushing or pumping a specific class, but you might want to rethink where you are placing your hard earned money
Per the prospectus, CTs and Preferreds will get paid first... period.
Hopefully our PPS :)
Sorry, It looks like these have already been posted. I need to read before I post :P
Lehman Creditors Want Barclays Data From U.K.’s FSA (Update2)
http://www.bloomberg.com/apps/news?pid=20601103&sid=avQQ6VO1iT5k
Nov. 24 (Bloomberg) -- Lehman Brothers Holdings Inc. creditors want the U.K.’s Financial Services Authority and PricewaterhouseCoopers International Ltd. to turn over information about Barclays Plc and the bank’s purchase of Lehman’s North American brokerage business last year.
The official committee of Lehman’s unsecured creditors asked U.S. Bankruptcy Judge James Peck to seek “judicial assistance” from the U.K. High Court of Justice to get the documents. Lehman’s creditors claim Barclays got a $5 billion discount when it bought Lehman and are seeking to recover assets.
Earlier this month, Lehman and James Giddens, the trustee liquidating Lehman’s brokerage on behalf of the U.S. Securities Investor Protection Corp., sued Barclays in U.S. Bankruptcy Court in New York, seeking the return of what they said was a $5 billion windfall.
The Lehman executives who negotiated the deal on its behalf, and were in line to receive job offers from Barclays once the deal was complete, knew the deal had a built-in discount, the company has said.
The creditors committee has received hundreds of thousands of pages of documents from Barclays and deposed more than two dozen executives, said Michael O’Looney, a bank spokesman.
‘Generate Publicity’
“This effort to take discovery from parties in the U.K. is another attempt by the creditor’s committee to generate publicity,” O’Looney said in an e-mailed statement.
“Last September, at a time of maximum stress on the global financial system, Barclays, the only bidder willing to come forward, purchased Lehman Brothers North American assets,” O’Looney said. “Now that the market has stabilized, the creditors are trying to get a better deal.”
Lehman filed the largest bankruptcy in U.S. history on Sept. 15, 2008, with assets of $639 billion.
The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
To contact the reporter on this story: Christopher Scinta in New York at cscinta@bloomberg.net.
Quinn Emanuel Raises Stakes in Lehman-Barclays Dispute
November 24, 2009 4:12 PM
http://amlawdaily.typepad.com/amlawdaily/2009/11/quinn-emanuel-raises-stakes-in-lehmanbarclays-dispute.html
Posted by Zach Lowe
The official creditors committee in the Lehman Brothers bankruptcy fired the latest shot Tuesdsay afternoon in the dispute between Lehman and Barclays over whether Barclays received an improper "windfall" in its purchase of Lehman's North American assets and liabilities last September, court records show.
The dispute has been brewing for months and has resulted in several motions for discovery and at least three lawsuits. In short: Lehman, its creditors, and the trustee of its estate allege that certain higher-ups at both Lehman and Barclays arranged--without the knowledge of Lehman's counsel at Weil, Gotshal & Manges--to sell most of Lehman's North American assets to Barclays in late September 2008 under terms that were far too favorable to the buyer, according to court records and our prior reporting. On September 15, 2009, exactly one year after Lehman filed for Chapter 11 protection, Lehman's special counsel at Jones Day filed papers asking a federal judge to reconsider the terms of the sale and to allow Lehman access to various Barclays documents. Barclays, represented by Boies, Schiller & Flexner, responded by issuing subpoenas for various documents to Lehman's lawyers at Weil; the subpoenas listed documents protected by attorney-client privilege, but a source familiar with the matter has told us Weil is complying with the subpoenas and turning over formerly privileged records. Weil attorneys have declined to comment on the matter.
That brings us to today. The creditors committee in the Lehman case (represented by Quinn Emanuel Urquhart Oliver & Hedges) filed a motion under the terms of the Hague Convention seeking permission to ask a U.K. court to require that two U.K.-based entities turn over documents related to the Barclays deal. The entities? They're biggies--the Financial Services Authority, the U.K.'s version of the Securities and Exchange Commission, and PricewaterhouseCoopers International, the mega-firm that served as the auditor for Barclays in its deal talks with Lehman, according to court records. (You can download today's motion below.)
Specifically, the Quinn lawyers want to see correspondence between Barclays and those entities in which the parties discussed the terms of the Lehman transaction, especially on the matter of how much Barclays expected to earn from the deal.
James Tecce, the lead Quinn lawyer listed on the complaint, was not immediately available for comment. Jonathan Schiller, name partner at Boies Schiller, did not immediately respond to messages seeking comment.
The exact size of the alleged Barclays "windfall" is a bit unclear. In the past, lawyers have estimated the unexpected gain as somewhere between $5 billion and $8.2 billion, and Lehman has also alleged that the dealmakers inflated the value of liabilities (including employee bonuses) Barclays would take on in the deal. According to Quinn's filing Tuesday, the deal as presented to a federal judge for approval consisted of "the transfer of liabilities totaling $45.5 billion (plus $4.25 billion of cure and compensation liabilities) and the transfer of assets totaling $47.4 billion."
Download Lehman Barclays Motion
If the judge gets a hold of them on this... he is going to make an example of Barclays. He will slap them with some serious damages as it is already in the news (black and white).
It's in Barclays best interest to just settle this.
GIT-R-DONE Judge Peck!!!
Don't forget Lehman owns 500,000 pounds of yellow cake worth 40.00+ per pound
500,000 x 40.00= 20000000
Sweet!
http://www.guardian.co.uk/business/2009/apr/15/lehmanbrothers-nuclear-weapons
FYI-- They also posted the banners for the other bank in BK.
MMs will fill your order at 4.50. They filled my 1 share order :)
I just did 1 share @ 4.50 and they didn't record it. It was filled though :)
Finally some ask slapping. Lets move it up... way up :)
Jones Day and Boies Schiller to Tangle over Barclays-Lehman Deal
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202435561878&Jones_Day_and_Boies_Schiller_to_Tangle_over_BarclaysLehman_Deal
By Andrew Longstreth
November 17, 2009
More than a year after the financial crisis reshaped Wall Street, there are still a lot of unanswered questions about how certain deals were crafted. Some of the questions will be answered in court where billions of dollars are at stake. Take, for example, Barclays's purchase of the North American operations of Lehman Brothers last September. The deal was approved by the bankruptcy court in New York shortly after midnight Sep. 20, and closed two days later.
It was only a matter of time before objections about the deal were raised. And so on Monday, the estate of Lehman Brothers, represented by Jones Day, filed a suit in New York bankruptcy court against Barclays, claiming that amidst the chaos surrounding the deal, Barclays was given an undisclosed $5 billion discount off the book value of assets transferred to the bank. The suit alleges that certain Lehman executives kept the company's board out of the loop about the side deal.
As The Am Law Daily's Zach Lowe reports, the suit came as no surprise. Jones Day, which is acting as special counsel to Lehman for certain matters, first raised the allegations about the $5 billion in September when it asked Judge James Peck to modify the terms of the sale. Jones Day then alleged, as it does in the complaint, that Lehman's bankruptcy counsel at Weil, Gotshal & Manges were not made aware of the $5 billion deal.
Boies, Schiller & Flexner, representing Barclays, is checking up on that claim. The firm has subpoenaed documents from Weil attorneys relating to Lehman’s motion to modify the terms of the sale. According to a report by Lowe, Weil has been turning over documents previously protected by the attorney-client privilege.
The question is are we leaner and greener now. Stay tuned hopefully we will find out more tomorrow :)
I'm just glad I have the truck loaded.
I agree, my portfolio would look really nice with my Js at 9.00
I assume that would be the price for the commons... preferreds and CT should be more.
Don't sell yourself short :P
DB’s Min Rues ‘Very Good Opportunity’ Missed in Lehman Failure
http://www.bloomberg.com/apps/news?pid=20601087&sid=aFzBQC1KK5G8&pos=5
On Sept. 10, 2008, KDB said negotiations ended after Lehman rejected its $6.40 per share offer. Five days later, Lehman filed the biggest bankruptcy in U.S. history. At the time, Min said Lehman, led by then-Chief Executive Officer Richard Fuld, wanted $17.50 a share .
DB’s Min Rues ‘Very Good Opportunity’ Missed in Lehman Failure
http://www.bloomberg.com/apps/news?pid=20601087&sid=aFzBQC1KK5G8&pos=5
On Sept. 10, 2008, KDB said negotiations ended after Lehman rejected its $6.40 per share offer. Five days later, Lehman filed the biggest bankruptcy in U.S. history. At the time, Min said Lehman, led by then-Chief Executive Officer Richard Fuld, wanted $17.50 a share .
Am I the only one who feels like the MMs are not filling or hiding bids?
Give me a break... with the news and court tomorrow.
Also there has been a 10,000 share difference (volume) in this stock for Scottrade and Zecco for the last 45 min. Just compared the two.
L2 update please
I will take that risk :) How considerate of them. Now lets make some money... Go Lehman and Weil!!!!
the all time low for wamu Ps was .25 cents.
Honorable Coach Tequila, would love to hear your thoughts on this :)
Barclays is going to get a very expensive spanking for trying to pull this crap on the HONORABLE JUDGE PECK.
I have a strong feeling that justice will be served on this one.
If I remember correctly when wamu filed a lawsuit against JPM the preferreds ran hard. The Ps went as high as 40.00 per share. In addition, this is when the BIG FISH started to accumulate shares in hundreds of thousands in block size.
Due to all of the delays and BS it is now trading between 22-25.
This could be the news that we have all been waiting for. I am really pumped over this news.
If I remember correctly when wamu filed a lawsuit against JPM the preferreds ran hard. The Ps went as high as 40.00 per share. In addition, this is when the BIG FISH started to accumulate shares in hundreds of thousands in block size.
Due to all of the delays and BS it is now trading between 22-25.
This could be the news that we have all been waiting for. I am really pumped over this news.