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Nice, you will have to change your screen name to "Golden Boy" after the dust settles.
I like the fact you are locking them up so the MMs can't borrow them too
Great, thanks. Now lets see if anyone gets filled :P
You can call your broker and ask them what the current ask is on this stock. They may have to call the MM, but they should give you an answer. I had to do that in the past.
Instead of playing pin the tail on the donkey :)
Amen, I have asked the same question on these boards :). I would love to invest in them too.
Keyword: BILLIONS
I THINK the court date was moved to the 28th for Barclays. I need to double check.
Motion to Approve Pursuant to Bankruptcy Rule 9019(a) for Approval of Settlement Agreement between Barclays Capital Inc. and American Express Travel Related Services Company, Inc. filed by Steven B. Eichel on behalf of AMERICAN EXPRESS TRAVEL RELATED SERVICES CO., INC.. with hearing to be held on 10/28/2009 at 10:00 AM at Courtroom 601 (JMP) Responses due by 10/23/2009, (Attachments: # (1) Notice of Hearing) (Eichel, Steven)
Debtor: Lehman Brothers Holdings Inc.
Related: none
It appears this class is locked up at this point.
I think it all depends if you are looking long term or short term.
I read that one... he is not a happy camper. Blah, Blah, Blah...
Tomorrow will be his day in court against the BEST BK ATTORNEYS IN THE WORLD...
Tomorrow's court hearing...
Agenda: http://chap11.epiqsystems.com/viewdocument.aspx?DocumentPk=49f51303-9ccd-481c-87ce-a521c7f3d339
Regarding:
http://chap11.epiqsystems.com/viewdocument.aspx?DocumentPk=e91707ce-8865-42e3-9b6d-8dc7d670059b
1810 shares traded today isn't a lot, but I think there was some shady trading going on today as the transactions are not showing up as buys or sells on ihub. They are in the black.... not sure what means "hidden"?
I have plenty of shares, but I would like to see my comrades pickup some too. :P
Is anyone getting fills at 6.00?
New Docs available:
http://chapter11.epiqsystems.com/docket/docketlist.aspx?pk=de7ced2b-52e7-4172-92e1-9ec425933bd0
5338 10/5/2009 Notice of Presentment of Stipulation and Order Between the Examiner and the Office of Thrift Supervision filed by Patrick J. Trostle on behalf of Anton R. Valukas. with presentment to be held on 10/14/2009 at 12:00 PM at Courtroom 601 (JMP) Objections due by 10/13/2009, (Attachments: # (1) Proposed Stipulation and Order)(Trostle, Patrick)
Debtor: Lehman Brothers Holdings Inc.
Related: none
5337 10/5/2009 Motion to Approve Pursuant to Bankruptcy Rule 9019(a) for Approval of Settlement Agreement between Barclays Capital Inc. and American Express Travel Related Services Company, Inc. filed by Steven B. Eichel on behalf of AMERICAN EXPRESS TRAVEL RELATED SERVICES CO., INC.. with hearing to be held on 10/28/2009 at 10:00 AM at Courtroom 601 (JMP) Responses due by 10/23/2009, (Attachments: # (1) Notice of Hearing) (Eichel, Steven)
Debtor: Lehman Brothers Holdings Inc.
Related: none
5336 10/5/2009 Notice of Appeal (related document(s)[5273]) filed by J. Christopher Shore on behalf of DNB NOR BANK ASA. (Attachments: # (1) Exhibit A# (2) Exhibit B# (3) Exhibit C# (4) Exhibit D# (5) Exhibit E# (6) Exhibit F)(Shore, J.)
Debtor: Lehman Brothers Holdings Inc.
Related: 5273
5335 10/5/2009 Affidavit /Supplemental Affidavit and Disclosure Statement of Bradley D. Wine, on behalf of Dickstein Shapiro LLP Pursuant to the Order Authorizing the Debtors to Employ Professionals Utilized in the Ordinary Course of Business (related document(s)[3454], [3440]) filed by Richard P. Krasnow on behalf of Lehman Brothers Holdings Inc.. (Krasnow, Richard)
Debtor: Lehman Brothers Holdings Inc.
Related: 3454, 3440
5334 10/5/2009 Objection to Motion of AIG CDS, Inc. to the Motion of Debtor and Debtor-In-Possession Pursuant to Sections 105(A), 362, and 363 of the Bankruptcy Code, to Compel Performance by AIG CDS, Inc. of Its Obligations Under an Executory Contract and to Enforce the Automatic Stay (related document(s)[4728]) filed by Roger David Netzer on behalf of AIG CDS, Inc.. with hearing to be held on 10/14/2009 at 10:00 AM at Courtroom 601 (JMP) Objections due by 10/5/2009, (Attachments: # (1) Exhibit A - Hearing Transcript) (Netzer, Roger)
Debtor: Lehman Brothers Holdings Inc.
Related: 4728
New Docs available:
http://chapter11.epiqsystems.com/docket/docketlist.aspx?pk=de7ced2b-52e7-4172-92e1-9ec425933bd0
5338 10/5/2009 Notice of Presentment of Stipulation and Order Between the Examiner and the Office of Thrift Supervision filed by Patrick J. Trostle on behalf of Anton R. Valukas. with presentment to be held on 10/14/2009 at 12:00 PM at Courtroom 601 (JMP) Objections due by 10/13/2009, (Attachments: # (1) Proposed Stipulation and Order)(Trostle, Patrick)
Debtor: Lehman Brothers Holdings Inc.
Related: none
5337 10/5/2009 Motion to Approve Pursuant to Bankruptcy Rule 9019(a) for Approval of Settlement Agreement between Barclays Capital Inc. and American Express Travel Related Services Company, Inc. filed by Steven B. Eichel on behalf of AMERICAN EXPRESS TRAVEL RELATED SERVICES CO., INC.. with hearing to be held on 10/28/2009 at 10:00 AM at Courtroom 601 (JMP) Responses due by 10/23/2009, (Attachments: # (1) Notice of Hearing) (Eichel, Steven)
Debtor: Lehman Brothers Holdings Inc.
Related: none
5336 10/5/2009 Notice of Appeal (related document(s)[5273]) filed by J. Christopher Shore on behalf of DNB NOR BANK ASA. (Attachments: # (1) Exhibit A# (2) Exhibit B# (3) Exhibit C# (4) Exhibit D# (5) Exhibit E# (6) Exhibit F)(Shore, J.)
Debtor: Lehman Brothers Holdings Inc.
Related: 5273
5335 10/5/2009 Affidavit /Supplemental Affidavit and Disclosure Statement of Bradley D. Wine, on behalf of Dickstein Shapiro LLP Pursuant to the Order Authorizing the Debtors to Employ Professionals Utilized in the Ordinary Course of Business (related document(s)[3454], [3440]) filed by Richard P. Krasnow on behalf of Lehman Brothers Holdings Inc.. (Krasnow, Richard)
Debtor: Lehman Brothers Holdings Inc.
Related: 3454, 3440
5334 10/5/2009 Objection to Motion of AIG CDS, Inc. to the Motion of Debtor and Debtor-In-Possession Pursuant to Sections 105(A), 362, and 363 of the Bankruptcy Code, to Compel Performance by AIG CDS, Inc. of Its Obligations Under an Executory Contract and to Enforce the Automatic Stay (related document(s)[4728]) filed by Roger David Netzer on behalf of AIG CDS, Inc.. with hearing to be held on 10/14/2009 at 10:00 AM at Courtroom 601 (JMP) Objections due by 10/5/2009, (Attachments: # (1) Exhibit A - Hearing Transcript) (Netzer, Roger)
Debtor: Lehman Brothers Holdings Inc.
Related: 4728
"LEHCQ is the biggest value in Lehman family"? I would say LEHPQ is the biggest value in the Lehman family @ 1000.00 face value. LEHCQ and LEHDQ is 50.00 face value.
I own C and D, but the question is can anyone buy it at .20 cents. There is no volume.
Just need volume. It should be here soon.
Care to elaborate? We all know we are in court next week.
Two words... Gold Mine :P
Volume is looking good so far. Let's get over a million shares traded today :)
LOTS OF LEHMAN BUZZ THIS MORNING. LET HER RUN!!!
LOTS OF LEHMAN BUZZ THIS MORNING. LET HER RUN!!!
Rule of thumb... never show your hand until you are ready to buy or sell. I never place even a limit buy/sell order before the market opens. The MM use this to their advantage. They will create gaps that will eventually need to be filled.
I purchased a 1000k and they filled 100 @ 5.00 and the rest at 7.00. I decided to just hit the ask and hope they give me a bargain. They were jumping around a lot last week. We will probably see the same this week as they try to shake out the weak.
Good luck as I feel we have a great opportunity to make a lot of money here.
LMAO. *CHUCKLE*
Darn, all that horn blowing for nothing :)
Please consider that as practice as I can see this playing out one day...Halt + Price Adjustment= $$$$$$$$
Commons are starting to pickup steam. I hope we are in the right place at the right time now that I don't see any bid or ask for traditionals.
Is this a guessing game for the bid and ask?
I can't figure this one out. I have 2 platforms and both are showing no bid or ask for all traditional preferred class stocks for Lehman. All of the others are fine.
Show me the money :)
A 1200 sell just went through at .20
Actually Zecco is not showing anything either. I'm seeing CTs but not traditional.
what the heck someone bought 3700 shares @ .30. Ouch Market order.
Another good thing with this BK is that is currently moving without any delays.
Hi Wamook, here is another good resource for information...
http://lehmanlotto.blogspot.com/2009/09/lehman-lotto.html
How in the heck does the fed get paid in full when everyone else is getting a haircut? We need unlimited discovery like we have in our other case :)
Fed Draws Court's Eyes in Lehman Bankruptcy
http://online.wsj.com/article/SB125443891097957691.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
Fed Draws Court's Eyes in Lehman Bankruptcy
http://online.wsj.com/article/SB125443891097957691.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
By JEFFREY MCCRACKEN and MICHAEL SPECTOR
A court-appointed examiner investigating Lehman Brothers Holdings Inc.'s bankruptcy has been exploring whether the Federal Reserve improperly cut in front of other creditors owed money in the $613 billion bankruptcy case, records show.
Billing records filed with the court show the examiner is investigating an issue that has angered many Lehman's creditors: how the Federal Reserve and the New York Fed -- which lent Lehman $46 billion in cash and securities before its bankruptcy filing last September -- were paid promptly and in full, while tens of billions of dollars in other debts were left to be sorted out in court. It remains unclear when and how much Lehman creditors will be repaid.
The examiner, Anton Valukas, chairman of law firm Jenner & Block LLP and a former U.S. attorney, said, "I am under a court order not to discuss what we are doing or how we are doing it."
Read More
* Complete Coverage: The Crisis, One Year later
Fed loans were crucial to propping up Lehman during its final days, and were part of an extraordinary government attempt to stabilize Lehman in the chaotic weeks of mid-September 2008. The government ultimately quashed a rescue of Lehman, which filed for bankruptcy protection. But its earlier steps now are open to scrutiny in bankruptcy court.
Details on the examiner's work remain scant, and it is possible no actions will be brought. Should the examiner determine that the Fed got preferential treatment, bankruptcy administrators could pursue court claims to recover assets for Lehman's creditors from the Fed, on the theory those assets should have remained with Lehman when it filed for bankruptcy last September.
Such a finding would have little legal precedent and could turn politically fraught, bankruptcy lawyers say. Yet it could bring a focus to one of the unresolved questions of the financial crisis: just how much special treatment the federal government receives above private-market players when it becomes a direct participant in the markets.
"We have no knowledge for the basis of any potential claims by the estate against the New York Fed," said Deborah Kilroe, New York Fed spokeswoman. "The New York Fed has fully cooperated with the Lehman examiner."
Many legal experts said bringing claims against the Fed would be an uphill battle, because the Fed would qualify under a long-held standard of sovereign immunity. That concept generally holds that the government can't be held legally accountable for its actions.
But Lehman's estate could have an opening, because by the standards of bankruptcy law, the government isn't supposed to receive immunity, said Richard Levin, a partner at law firm Cravath, Swaine & Moore LLP who helped write the U.S. bankruptcy code. "The Lehman estate could sue the Fed," Mr. Levin said, adding that the Fed would likely argue it can't be held liable.
The examiner's investigation into the Fed was disclosed in descriptions of legal work presented in billing records to the bankruptcy court in August.
Running hundreds of pages, the records are for the first five months of 2009, and touch a gamut of issues. For instance, the May 20 billing records also show research for possible claims against J.P. Morgan Chase & Co., though it remained unclear what actions might be brought against the Wall Street bank. J.P. Morgan declined to comment.
Bryan Marsal, co-head of restructuring firm Alvarez & Marsal that is running the Lehman estate, said he didn't know what the examiner was investigating.
As is typical in complicated bankruptcies, examiners are appointed by the court to investigate matters surrounding a company's Chapter 11 filing. The examiner submits findings to the court in a report, leaving any legal action to others.
As the credit crunch deepened in March 2008, the Fed set up a new lending facility for investment banks. For the first time, these investment houses were able to borrow from the government on much the same terms as commercial banks.
Overall, the New York Fed lent Lehman $46.2 billion in cash and Treasury securities for $50.6 billion in collateral, according to Federal Reserve affidavits filed in bankruptcy court. As a result of Lehman's sale to Barclays PLC following its bankruptcy, the New York Fed was later paid back in cash, with the Treasury securities returned. Lehman's broker-dealer also borrowed tens of billions of dollars from the Fed in the period from Sept. 11 through Sept. 15 last year.
One Lehman creditor said the concern is "whether the government used its power and influence to make sure it got paid back in full, while the rest of us get dimes on the dollar."
The requests for payment show the court examiner researching what are called "preference" claims against the Fed.
Preference claims attempt to claw back assets a company moved shortly before filing for Chapter 11, said Cravath's Mr. Levin. Such moves, if made within 90 days of a bankruptcy filing, are deemed to "prefer" one creditor over others. The bankruptcy code dictates that such value should be moved back to the bankruptcy estate, to be shared among all creditors.
Billing records for Jenner & Block and its financial adviser Duff & Phelps, make numerous references to investigating "possible claims against Federal Government," the Federal Reserve and the New York. Fed. Most of that research relates to "avoidance" claims.
Jenner & Block said that on May 18 it "reviewed background material re possible claims against Federal Government."
There also is a reference in May to time spent to "research case law for proof outline re suit against Fed for avoidance or preference." The billing records also refer to time spent analyzing Fed emails to Lehman, researching the New York Fed and its conflicts of interest and interviewing witnesses at the New York Fed.
Mr. Valukas, in comments to the court seeking more time for his probe, said his team had reviewed over 10 million pages, interviewed 95 witnesses and issued some subpoenas. He expected to interview 60 more witnesses.
Me too :) I didn't get any bargains today. Paid 7.00 a share for my 1000 shares today.
Love my Js... they have been holding strong. It's time to move up again.
I am sitting on bunch now, but if the opportunity presents itself I will be adding more. This class is a steal at these prices.
1000 face value and 72.00 dividend if and when they reinstate it.