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Just hoping for some good insight and updates directly from someone close to it... hopefully in English instead of legal jargon.
Docket 53706 shows payouts but where do we fall? What are we classified as in there or do we truly not know?
So I emailed james gidden today and got a prompt response back to get ahold of Weil law firm for my inquiry.
Talked to one of the attorneys on the case(Newly appointed to it) and she going to research and call me back.
She is looking into cts vs trad preferred for classification and payout potential.
Where they fall in the overall hierarchy of payout of all debts
If back divis are included
If we need to submit any additional claims to be included in any potential payout
Timeline and any additional information she can share.
She said she would email me the info tomorrow.
I will keep everyone posted.
Has anyone ever contacted the trustee directly to find out what shareholders are classified as or what their take is on this?
Old news but just found it
http://www.prnewswire.com/news-releases/lehman-brothers-inc-trustee-plans-additional-22-billion-distribution-to-unsecured-general-creditors-300027212.html
http://www.prnewswire.com/news-releases/lehman-brothers-inc-trustee-announces-plans-for-additional-distribution-to-unsecured-general-creditors-300258924.html
Fully aware. I just want to win the lottery :)
I submitted an inquiry. Hopefully I get some sort of personal response and not just a generic one. Asking about hierarchy and potential distributions.
Submitted it from this site:
http://document.epiq11.com//document/getdocumentbycode/?docId=3103451&projectCode=LBH
Thanks for the response! From some of the posts wasn't sure if traditional preferreds were confirmed dead and only cts had any chance or what the deal was.
GTLA - hopefully the next date there are finally answers. If it truly is a record date you would think there would be some sort of distribution or else there wouldn't need to be a record date...
For the love of god you guys are killing me!!! Are pq cq and jq dead? Or will they have any chance at a payout?
I took a few year absence from trading and was hoping for a quick opinion since finding it would take me days or months with all of the filings and legal jargon.
I took my profits on all my wamu, and I think cq or jq years ago. Still just have pq and cq/jq in my account under the cusip. Been so long I don't remember if I have jq or cq.
Any way - please respond and help a brother out.
Any chance this includes pq or jq? Or are the only stocks possibly getting paid out the CTs?
Thanks for the response
Rookie question- if they do hit $100 mill what would the pps be? Of the 13k per kilo - what is the profit margin?
Good. Regardless - holding my shares and adding tomorrow. GLTA
This states 'not to get the purest confused with marijuana products'? I was under the impression from the board ibrands was only company with approval to transport across state lines for all 50 states? Any clarification?
Holding strong strong regardless.
Opinions on holding this or flip to double up and rebuy? Think it hits .0001 again today?
Yes it's .2513x2500.
No one was wanting to sell yesterday so must be next up until the market opens.
Emailed Cecil to see what's shakin'
Will post response if I get one.
Finally got in! I have been chasing this thing all week waiting for a dip!! Just got filled @.001. Ibrc you now have my permission to explode!!
Etrade doesn't show any bid?
Does this mean if you didn't own by the record date you are left out? or as long as it is trading you can still get some skin in the game?
IT HAS BEEN A WHILE!
Nice to see all of the old timers are still kicking! VIVA DNOTO JERSEY! Sorry if I missed anyone
I haven't checked in in probably 2 years, had PQ and JQ just listed as the CUSIP in my account with ESC.
I just read about 75 posts and have no clue what the hell is going on haha.
Anyone briefly sum up the current believes? Do the PQ/JQ have a chance at payout or are they dead? Do I need to toss some money at NQ just so I have my line in the water for favorable news?
TIA and Good Luck to all!
What is the hierarchy of preferreds being paid out - can anyone list by symbol and why one is higher than the other?
Thinking a 2016 payout? :) sorry for being lazy and not researching JUST getting back into trading after a hiatus. Lehman and wamu pissed me off years ago. Was at work when shit went down and lost a TON because I wasn't able to dump then rebuy at the bottom.
Does anyone actually expect a payout?
When I check quantum it says cancelled for pq and cq and jq. Jq isn't even in my errands anymore
What is going on with preferreds? I bought a bunch years ago then got pissed when they went to not being tradable and checked out. Can someone please let me know if action is needed or if anything has changed for the better in regards to payout...
I don't remember what I own anymore. I have 2 preferred series - 1 was 1000$ face and one was $50 face. Any insight is appreciated.
Danny
I assume it is probably the same thing. I take it this is a good thing? Is this something I need to take to an attorney to read? I stopped following this a while ago because I kept getting the urge to sell. haha
Did anyone just get something in the mail pertaining to lehman?
unsecured creditors = us correct?
Well, I caved, I am back in J's, I have been out since the decline last year after the peak at around $0.4. How is everything looking? Does anyone want to save me hours of reading through posts and give me a brief summary of the recent events and their take on future events and what they feel will happen to the price?
holy hell
What happened? I am on my way out the door can anyone reply to this for me to chck later I don't have time now. I decided not to check on this for a while since was a roller coaster now it is at .06???? wand WAMPQ at 11? any link to a post or response with the recent events would be appreciated
Link to contact info for WAMU's EC Attorney...Maybe someone a little better versed then I would like to email him?
http://www.venable.com/gregory-a-cross/
I have never been involved in working towards getting an EC appointed but would it help to email a law firm that is familiar with representing EC's? From what I have read on the WAMUQ board they seem happy with their firm(s)... Who decides the firm that represents the EC? If the firm representing WAMUQ EC were asked to advise a us the best roads to take to get the EC appointed, do you think they would help, in hopes they could represent LEH EC as well? Sorry if this a stupid post... just a thought I had...
What changed in everyones take on this situation over night? I couldn't make it through the hundreds of posts last night but one of the last ones a read last night was msg# 10589 from Coach and it sounded like we are toast? Did someone find something else that makes them believe we will receive some form of distribution?
dr can you confirm? EC approved? first chance to poke my head in here today I know the hearing was at 4. I don't have time to read all I am putting in my time remodeling my bathroom TIA
Etrade let me put mine in for 24.5..I'm not greedy holding out for FV 24.5 would be perfectly alright with me :)
Has anyone read the court docs today? Anything good on them? I skimmed through them and saw 2 notices to withdraw motion to examination of witnesses... for Treasury and Fed reserve..
http://www.kccllc.net/documents/0812229/0812229100115000000000006.pdf
http://www.kccllc.net/documents/0812229/0812229100115000000000015.pdf
Think the reason will come out in the 28th hearing? as to what the agreement was?
The secret is mine are for sale for $4.50... :)
Damn...I am almost 100% positive my P's won't sell. Volume always is horrible over there. oh well, looks like I am goin to try to get it done tomorrow. Hopefully all goes through by the 29th so I can be fully vested in Js by the 31st.
thank you guys for backing up what I was thinking. Just hard to sell and buy back in. Makes me nervous I will sell just before a run and end up getting in higher than I want and end up not getting as many shares that I am basing my decision on.
Well 80-90k share benchmark here I come!
What are the upcoming market hours for the next week?
Can I ask what you recommend? Ps have the 1k face which I like but I were to convert to J's I would increase my potential face value by about 250k I just don't know if there is a downside...
WG
Coach, Been in Js Ps & Cs over a year now, and am really sick of seeing how P trades and am thinking of selling my P's to convert to J's. Do you think it would not be very smart to put a majority of my lehman position in Js? and hold over 80k Js? Or do you think it would be better to hold my Ps? or convert to C/Ts?
Sorry to ask this type of question but I am gettin really sick of the Ps (was a lot happier when it ran to $11, but serously $2.00??????)and am a very inexperienced investor...
thanks in advance
WG
I Know this question has been asked thousands of times know but of the top of anyones head to they know where the list of C/T's are. I thought I read a while back it was going to be sticky but don't see it on the other boards I follow.