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It’s interesting that LBHI still indicates “stockholders equity” when ALL stock shares and therefore all stockholders have been cancelled many years ago.
The liquidating trust says former shareholders are “beneficiaries” in the trust.
Anyways it’s just nice to see the word “stockholder” is still alive. I always figured it was just a 3 card Monty or shell game the way they move crap around to get to the end result…recapitalized LBHI, utilize NOLs, reopen as a Bitcoin bank 🏦 and make ole Jimbo a multi zillionaire!
The plan is on track.
Happy New Year!
Maybe LBHI will become that Bitcoin bank like the late Hal Finney predicted should happen for mass acceptance…
Hal Finney was a visionary.
— Daniel Sempere Pico (@BTCGandalf) January 7, 2024
Here he is talking about how Bitcoin cannot scale and how bitcoin-backed banking would work.
h/t @hodl_miner pic.twitter.com/bvdmwWAK9J
And you are a treasure to this fine Lehman board! Too many other great contributor names to mention so I’ll just say Happy New Year to everyone! Let’s Git R Done!…maybe this year???
Smart answer from Mr. TooGoodFella!
I’m betting that Toogood is or has been a CFO of a company that went thru bankruptcy. Am I close Toogood? You read these notices very different than the average person.
Happy New Year!
I don’t get it. What’s 3020?
Get’em Blue! You’re on the scent trail…might just be varmint poontang, but there is something that stinks in Denmark!
That was me with the prediction around 2014ish. I would have to did in my ihub history…to lazy at the moment. But yes very ironic since it was 2008 that Satoshi Nakamoto released Bitcoin and blockchain onto the world as a gift. No patent. No Nobel prize for math or computer science. Just a gift to humanity. 2008 the same year LBHi bites the dust and now a short 15 years later a Bitcoin ETF is on the verge of SEC approval. And hopefully soon LBHI rises from the ashes as a NEO Bank, a Crypto Bank (irs says we must utilize NOLs in the same class of trade - ie financial services).
So let’s rock n roll with LBit!
Thank you cheese 🧀! Now stay out of your bunker and add to the mass confusion more often.
Cheers
Morning Cotton! Where are you getting all of the info. Gotta link? On this rainy day in Raleigh would be great to read through these important filings.
Cheers brother!
P.s.where the hell is SwissCheese?
Today, the Financial Accounting Standards Board (FASB) announced new rules that will require companies to account for cryptocurrencies like Bitcoin at fair value. The rules are set to go into effect on December 15, 2024, but companies will be able to apply them earlier than that.
https://bitcoinmagazine.com/markets/bitcoin-and-crypto-to-be-measured-at-fair-value-under-new-fasb-rules
Coincidence with LBHI December 2024 date? I don’t think so…
Cheers!
Appears to be very big news Cotton! Keep digging brother…you’re on the scent trail …git’em Blue!
And yes of course that was a joke…
Just in case there are any soft belly luny lefties to be concerned with.
Let’s just say Joisey Boy knows EXACTLY where Jimmy Hoffa is buried. I would be nicer…just sayin.
Joisey Boy is the glue that holds this board together! Thank you very much. So that is a false statement and should be reworded for accuracy.
Well I normally back up my stuff with actual details. That would be nice so I don’t have to read thru the first years of BK docs on a search for the needle in haystack we all have never heard about of. Again I’m not doubting it. Just seems crazy.
Are you saying it was stated in US Court that JPMC has purposely set aside at this moment $8B that they held back in order to satisfy the CT guarantees at some future date?
Did JPCM really say that in court? Not doubting you, just have never heard those words before. Been here since day 1.
Cheers!
Just how rich are we gunna be Cotton?
Bottom line it for us brother…
Git r done!
that's an interesting take cotton. so the UK bankruptcy is potentially paying USA CT's directly from their surplus?
I am happy to be wrong...
and where the heck is SwissCheese these days?
cheers!
My 15 year study and unofficial honorary PhD from LBHI bankruptcy university tells me we CT holders will not see a penny distributed to us while under the court managed bankruptcy POR. Like Toogoodfella has stated for 14 yrs, our day comes only if LBHi remains as a going concern.
It’s very clear in the POR what happens to CTs. It’s my understanding, the UK higher classes were satisfied in full…so Ecaps are receiving a distribution. If CTs receive a distribution it will mean the US higher classes are satisfied in full and the BK will close…SOON!
6.4 Redistribution of Subordinated Claims Recoveries.
To give effect to agreements of holders of Subordinated Claims, all Distributions under the Plan made by LBHI shall be calculated as if each holder of an Allowed Claim in LBHI Class 10A, LBHI Class 10B and LBHI Class 10C were to receive its Pro Rata Share of Available Cash from LBHI, and, in the case of each holder of an Allowed Claim in LBHI Class 10A and LBHI Class 10B, its Pro Rata Share of the Subordinated Class 10C Distribution; provided, however, that:
(a) the Subordinated Class 10A Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3 and LBHI Class 4A pursuant to Sections 4.3(b) and 4.4(b) of the Plan, respectively, until all such Claims are satisfied in full;
(b) the Subordinated Class 10B Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B and LBHI Class 5 pursuant to Sections 4.3(b), 4.4(b), 4.5(b) and 4.6(b) of the Plan, respectively, until all such Claims are satisfied in full;
(c) the Subordinated Class 10C Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B, LBHI Class 5, LBHI Class 10A and LBHI Class 10B pursuant to Sections 4.3(b), 4.4(b), 4.5(b), 4.6(b), 4.13(b) and 4.14(b) of the Plan, respectively, until all such Claims are satisfied in full; provided, however, that any portion of the Subordinated Class 10C Distribution payable to holders of Allowed Claims in LBHI Class 10A shall be automatically distributed to holders of Allowed Claims in LBHI Class 3 and LBHI Class 4A pursuant to Section 6.4(a) of the Plan until all such Claims are satisfied in full; provided, further, that any portion of the Subordinated Class 10C Distribution payable to holders of Allowed Claims in LBHI Class 10B shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B, and LBHI Class 5 pursuant to Section 6.4(b) of the Plan until all such Claims are satisfied in full.
Looks like 2025 is the year for us! Who woulda thought…
Yes and I would bet LBHi would like to see their old CT problem go away in bankruptcy with a final distribution before continuing as a going concern with a clean slate. Commons reinstated when Lehman rises from the ashes as a crypto trading bank that merges with the Kraken exchange! Release the Kraken
I assume the higher classes in UK have been satisfied in full and therefore Ecaps are receiving distributions.
It’s my understanding the US higher classes are not yet satisfied in full so a CT distribution is unlikely.
But what the hell do I know!
Cheers all
truer words have never been spoken...
this is straight from the PORs mouth...
6.4 Redistribution of Subordinated Claims Recoveries.
To give effect to agreements of holders of Subordinated Claims, all Distributions under the Plan made by LBHI shall be calculated as if each holder of an Allowed Claim in LBHI Class 10A, LBHI Class 10B and LBHI Class 10C were to receive its Pro Rata Share of Available Cash from LBHI, and, in the case of each holder of an Allowed Claim in LBHI Class 10A and LBHI Class 10B, its Pro Rata Share of the Subordinated Class 10C Distribution; provided, however, that:
(a) the Subordinated Class 10A Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3 and LBHI Class 4A pursuant to Sections 4.3(b) and 4.4(b) of the Plan, respectively, until all such Claims are satisfied in full;
(b) the Subordinated Class 10B Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B and LBHI Class 5 pursuant to Sections 4.3(b), 4.4(b), 4.5(b) and 4.6(b) of the Plan, respectively, until all such Claims are satisfied in full;
(c) the Subordinated Class 10C Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B, LBHI Class 5, LBHI Class 10A and LBHI Class 10B pursuant to Sections 4.3(b), 4.4(b), 4.5(b), 4.6(b), 4.13(b) and 4.14(b) of the Plan, respectively, until all such Claims are satisfied in full; provided, however, that any portion of the Subordinated Class 10C Distribution payable to holders of Allowed Claims in LBHI Class 10A shall be automatically distributed to holders of Allowed Claims in LBHI Class 3 and LBHI Class 4A pursuant to Section 6.4(a) of the Plan until all such Claims are satisfied in full; provided, further, that any portion of the Subordinated Class 10C Distribution payable to holders of Allowed Claims in LBHI Class 10B shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B, and LBHI Class 5 pursuant to Section 6.4(b) of the Plan until all such Claims are satisfied in full.
agreed 100%. isn't current the interest owed on CT's ~$37 per share after 15 years? or is it longer than 15 years? Has LBHI ever paid interest on CT's from inception? It looks like answers to this LHBI riddle will come next year...yeah! 2024 is our year! until 2025 rolls around...
what a mess...
So you’re telling me there’s a chance…
Cheers!
I vote for joyceschoice as the winner of this MORibund competition! We do need MOR cowbell!
Could be were all just a bunch of MORons!
One of these days we will see the end…
Yes, SOON!
Git r Done
Swiss Cheese! Where the hell are you?
Get in the conversation brother.
Cheers
I’m not sure everyone would agree with “valuable”. LOL! Does anyone know the most active BIEL market makers?
Cheers
Which MM’s are the most active on BIEL?
Cheers!
Thanks brother TooGood! I had forgot about the extension. I also remember saying there is NO Way it will go to December 2025. But in reality it looks like it absolutely will go the distance.
Cheers to the board!
Aren’t we 3 years past that 9 year max for the Plan Trust?
Soon. Very Soon…when you take in comparison to the overall age of planet earth. Soon.
Cotton it looks like you’re getting your crown back as King for all these great posts lately!
Git r Done!
…”These ECAPS' are In LBHI's Bankruptcy”
how do you know that IV and V are in LBHI bankruptcy?
Good stuff cotton. Git’em Blue!
Class 10 has always been “deemed to reject” the reorg plan and the Ch 11 plan states any class 10 payment is redirected to higher classes. CTs will be paid but only after the BK closes and only if LBHI is a going concern.
Does it say…GIT R DONE?