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Sorry Iron, I didn't see the post at that time, I don't know.
I don't know what say, you could right. Your input is as valid as anyone else's here. I would never say its not. I just disagree with you.
I wanna ask you a question. between me and you.
If Lehman did up-list the cts from the greys, wouldn't they need Judge Pecks Ok? I'm mean they are in bankruptcy that hasn't been discharged yet.
I think that if they tried to up-list without approval, Judge Peck would have them hauled into court and Pimp slap them.
Just my thoughts, what's yours.
That's cool. Your right your health and family are the 1# priority, everything else doesn't count for jack. I 'm like you, I don't have the all answers either (probably no right answers), but do have a ton of questions. I agree with you everyone can draw their conclusions. We are all adults.
Well after todays golf round I don't expect a Nike endorsement anytime soon.
Hey Dnoto I don't think I've seen you post in awhile, nice on your score. You make me laugh with that truck line. I don't know about you but to me its starting to feel like a cult in this chat room. Don't question The Ihub Lehnq board Gods they already made the decision on the outcome, see its been dicussed they told us so. Well last post of the night. Got an early tee time. Hope your truck leaves the bay door with all the cash it can possibly hold!!!! goodnight
Wow Camaro that's a great compliment, thank you. To think I have such power to have people base their investment decision on what I post on a blog. High five
Commons were delisted by Judge Peck with a stroke of his pen, and now sit as "One Big Share"
Cts were delisted and sat on the greys(how they got delisted to greys is a ?) until some entity I say MM others say Lehman filed paperwork to up-list. Someone here posted there must be a paper trail maybe one of you can find it and submit it here.
Maybe you can answer a question, why only 3 and not all 4 got up-listed?
Here go write the OTC yourself
http://www.otcmarkets.com/home
go down to market info, click on contact us
maybe you can word your questions better than I can
The stock exchange they were listed on because they (Lehman)didn't meet the minimum requirement to stay on exchange. Filing for bankruptcy protection makes the process go a lot faster.
Market maker imo
For the OBS shares
http://www.sec.gov/investor/pubs/bankrupt.htm
What Will Happen to My Stock or Bond?
A company's securities may continue to trade even after the company has filed for bankruptcy under Chapter 11. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. There is no federal law that prohibits trading of securities of companies in bankruptcy. (this means cts also, imo)
Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company's plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution.
If the company does come out of bankruptcy, there may be two different types of common stock, with different ticker symbols, trading for the same company. One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan. If the old common stock is traded on the OTCBB or on the Pink Sheets, it will have a five-letter ticker symbol that ends in "Q," indicating that the stock was involved with bankruptcy proceedings. The ticker symbol for the new common stock will not end in "Q". Sometimes the new stock may not have been issued by the company, although it has been authorized. In that situation, the stock is said to be trading "when issued," which is shorthand for "when, as, and if issued." The ticker symbol of stock that is trading "when issued" will end with a "V". Once the company actually issues the newly authorized stock, the "V" will no longer appear at the end of the ticker symbol. Be sure you know which shares you are purchasing, because the old shares that were issued before the company filed for bankruptcy may be worthless if the company has emerged from bankruptcy and has issued new common stock.
As far as the non dischargeable clause to the cts from my understanding and research it is not enforceable when the company is in bankruptcy.
If someone can find something different I'm open to opposing views. I will not bash you.
Thank you that's all I asked for.
You said "No" you are not wrong.
Viva I have no problem with anyone here I like your posts and Jersey, LD, Cotton, Argus(who seems to find things no else can)and the rest. I was on yahoo lehjq board when Troy tried to get a EC together. My problem is when someone calls me a liar/ deceitful because I post an actual email that I received, because "why" imo.... some people can't believe they can be wrong. Maybe they are right, maybe I'm right, maybe we are all wrong, Maybe only commons will survive(that would be great for Daisy). We are all speculating on the outcome.
Cotton its a very simple question that requires a very simple answer. There only two ways to answer the question yes or no. Could the your dd, information, or conclusions be wrong? I will say again that YES MY DD,INFORMATION, CONCLUSIONS I....could ......be .......wrong.
Could it be wrong? Let be said and be as clear as possible that i will be the first to say I could be wrong.
I would like to ask the whole board 2 questions. 1) is it possible that your information, dd, conclusions could be wrong. 2) is it possible that other posters information, dd, conclusions could be wrong. I say yes to both.
24/7 huh, So what did he share with you? please post for world to see.
I'll ask the question again
Where.....in......the.......article.......that.......you........ posted.......does.......it.......mention........equity........ holders?
YOU......said.......equity.........holders,
I........see.......creditors......only
"The creditors and equity holders must get paid in order to attach the words "almost miraculous result" to this case!
Miraculous just rocks me to sleep! LoL "
So where in this article does say equity holders. Nowhere. Mr. Miller says creditors you say equity holders.
Maybe someone can show me equity holders in that paragraph or in the entire article for that matter.
Lifetime Case
“The Lehman case is and was the most unique and different bankruptcy/restructuring case to emerge since the inception of a bankruptcy law in the U.S.,” said Harvey Miller, the Weil Gotshal & Manges LLP partner who has been Lehman’s lead lawyer since the bankruptcy. “It was the case of a lifetime, both frustrating and gratifying, sometimes almost concurrently.”
Lehman’s fee bills are “not excessive,” Miller said, considering the “almost miraculous result” of the case, which ended with Lehman winning creditors’[/i] backing for its liquidation plan.
Traders turned over an average of $2 billion of claims on Lehman a month, or $100 billion from September 2008 through November 2012, according to SecondMarket Holdings Inc. Trades in the MF Global Inc. brokerage formerly headed by Jon Corzine have totaled $4.6 billion since it filed the eighth-biggest U.S. bankruptcy in October 2011, the data firm said. AMR trading is about $740 million.
http://online.wsj.com/article/SB10001424127887324030704578424321979040936.html
Tony Lomas, who is overseeing Lehman's U.K. administration, a process similar to Chapter 11 in the U.S., said a number of settlements with other Lehman affiliates in the past six months helped clear the way for an initial £1.8 billion ($2.76 billion) payment to unsecured creditors last November, and that a strengthened financial position "now suggests that…there would be sufficient funds to settle in full all provable claims," excluding those by shareholders and claims for interest
http://www.otcmarkets.com/home
go to bottom of the page where it says market info and press contact us, then write away
No problem Dine, I'm sorry if I came across in a bad way, didn't mean it. You and everyone else have every right to question a post, source or whatever. Again I emailed OTC and that's the response I got. I posted it because if you remember the same excitement happened back a while ago when people started to get notices from some place, but others didn't and led to nothing. Just trying to keep grounded. If people don't like what I posted then people should just email OTC themselves and post the response here for all to read. Maybe this guy was wrong or didn't know the answer or I wrote my questions wrong.
yes actual response cut and paste and I did not alter.
maybe he wrote to fast, I don't know.
I'm not quoting anybody, that's my email that was responded to that I posted . I am not retracting anything I believe they didn't approve it. Just like you and others say they did, we both don't know if they did or didn't. We can only say. If you or anyone can find anything other than what your DD says, a rep/lawyer/or anyone involved that, they(Lehman) did approve it by all means post it, if not its just chatter. Write an email to whoever and post the response. I decided to write to OTC regarding this matter, and posted the response to my email inquiry. Take it for you believe its worth. The response merely says the company does not need to approve, it doesn't say they didn't.
Again I don't believe they Lehman up listed the cts. Did I clear up my intentions?
By the way I would appreciate you not calling me a liar.
I will repost response from my email inquiry about up-listing: Not saying Lehman didn't approve or didn't know:
penny4dollars Friday, September 06, 2013 4:22:58 PM
Re: mik1 post# 32453 Post # of 32511
The securities became quoted when a [color=red][color=red]market maker began quoting them on an unsolicited basis. This was done by a market maker and does not be approved by the company[/color].[/[/color]b]
Best regards,
Ed McCann
Issuer and Information Services
Description: Description: Description: Description: cid:image001.jpg@01CBB1A7.1048C390
304 Hudson Street 2nd Floor
New York, NY 10013-1015
T +1 (212) 896-4471
edward@otcmarkets.com
From: vincent j [mailto:xxxxxxx@yahoo.com]
Sent: Thursday, September 05, 2013 9:07 AM
To: Issuer Services
Subject: OTCIQ Information Request
OTCIQ Information Request
The following user would like to sign up for OTCMARKETS.
Issue Type:
question
First Name:
vincent
Last Name:
j
Email:
xxxxxxx@yahoo.com
Phone:
xxxxxxxxxx
Department:
Trading Services
Message:
My question is regards to Lehman Brother capital trust preferred stock. symbols lhhmq, lehlq, lehkq, lehnq. The first three trusts were up listed from the grey market to pink while lehnq remains on the greys. questions..... 1.What is the requirement for securities to get up listed. and did Lehman Brothers up list the these preferred securities? 2) If Lehman didn't up list who can up list the stock, and does Lehman have to consent or at least be aware of such up listing? Thank you
Hey Wamu. Everybody here has done their own DD and made a decision on that DD. There is no convincing anyone different. The truth is everyone here, including myself, is speculating on what might happen. I myself don't see a recovery anymore. I ask myself is why would this company, would be any different than any other company in bankruptcy and keep the shareholders intact. Oh yeah there are a few exceptions to this(very rare). Everyone talks about divies (nothing appeared). I read "gifting" yeah Ok their gonna gift us out of the goodness of their heart. As far as full face value payment, If they knew about "up-listing, they must know a lot of people bought in at pennies on the dollar for all stocks offerings, after bankruptcy petition was filed. Even bondholders(including people who bought in after the collapse on pennies on dollar) received small percentage of payout. but yet cts, which is preferred stock is gonna get full value. No I don't think so, cause bankruptcy law trumps policy/guarantees. Again there is no law/policy or anything that says a stock cannot trade when a company is bankrupt and is very risky. This is all imo of course, and I'm not going to try to convince anyone their DD is wrong. I hope i'm wrong and everyone here makes millions, but I think there is gonna be a lot of disappointed people here when the Lehman clock finally stops.
Sharks will eat any prey big or small.
That's what I would want if I was a MM. More volume more $$$$$
Imo, they are already cancelled.(all cts). Bankruptcy saw to that. To bad there is no regulation/policy/law that prohibits stock of a bankrupt company from trading. I got lucky with wamu I sold my entire position the day of one of the hearing at .63 cents and made nice little profit. I started to second guess my decision until the pps started to tank. That was the day I decided not to ever fall in love with a piece of paper/company. Worst thing that could happen when your in love with a stock or company. Oh I bought wmih ( if you can believe that)I love punishment I guess, but I'm up 100% so I guess I should sell it now since I don't see any business plan or merger happening any time soon.
Sorry meant 53 cents
I don't know the answer to your question. I only posted the response to my email for all to see. I am not saying Lehman didn't approve or at least know the up listing. But I strongly believe they didn't
Joyce its all about the Benjamin's. Does the profit outweigh the costs.
The securities became quoted when a market maker began quoting them on an unsolicited basis. This was done by a market maker and does not be approved by the company.
Best regards,
Ed McCann
Issuer and Information Services
Description: Description: Description: Description: cid:image001.jpg@01CBB1A7.1048C390
304 Hudson Street 2nd Floor
New York, NY 10013-1015
T +1 (212) 896-4471
edward@otcmarkets.com
From: vincent j [mailto:xxxxxxx@yahoo.com]
Sent: Thursday, September 05, 2013 9:07 AM
To: Issuer Services
Subject: OTCIQ Information Request
OTCIQ Information Request
The following user would like to sign up for OTCMARKETS.
Issue Type:
question
First Name:
vincent
Last Name:
j
Email:
xxxxxxx@yahoo.com
Phone:
xxxxxxxxxx
Department:
Trading Services
Message:
My question is regards to Lehman Brother capital trust preferred stock. symbols lhhmq, lehlq, lehkq, lehnq. The first three trusts were up listed from the grey market to pink while lehnq remains on the greys. questions..... 1.What is the requirement for securities to get up listed. and did Lehman Brothers up list the these preferred securities? 2) If Lehman didn't up list who can up list the stock, and does Lehman have to consent or at least be aware of such up listing? Thank you
No they didn't have to know.
Well I was waiting for someone/people to answer, but I'll let you guys figure it and do your own DD. Oh yes I do know the answer. In writing.
Questions for the board. Three of the trusts were up listed to pinks.
Does anyone know why?
Does anyone think Lehman was behind it or at least knew and had to approve?
Hey Ld, by continuing to let cts trade I thought lehman reaffirmed (CTS) debt, so how can they just throw the cts into equity?
My opinion is we will not get paid in cash, but in stock swap in emerged company. Hopefully not like how they screwed wamu stockholders.
its called PAYOFF
I sold all but 50 @ 0.055. don't know why I was left with 50? made nice little profit. One more penny to go and no more penny stocks for me. Best of luck to everyone with Verde
To Ld and Toogood, take it easy guys, its just a difference in opinion. The myan calender prediction came and passed, we all came out of our bunkers safe and sound. The lehman lotto number hasn't been drawn yet, so lets all have a coke and a smile goobers.
And the Sec got a complaint about it.