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Should 15B in cash be distributed to all creditors, including Class 3, etc.? TKS
Class 3 also got our contribution reaching upto 26.x%.
Your theory may be applied after Mar/2014, which is the time limits of "satisfied in full". Then, other cash generated after Mar/2014 would be distributed among all creditors according to the original plan. CTs are no longer subordinated to any other higher waterfalls.
Do you know what is the difference between CTs and Wamu's CT(Wahuq)? Someone mentioned before.
4 HFs tried to control Wahuq because it should be turned into equity after BK. Therefore, HFs could get all NOLs. Unfortunately, it was turned upside down by Mr. Thoma.
Any comments about our CTs?
TKS
So glad to see you turning into positive instead. GLTY
Welcome back
KKR Financial jumped 24%
your're right. common might get more than CTs.
One difference is that Wamu's senior/junior creditors were paid off. Lehman, have no idea how much the seniors wish to claim the NOLs.
Is KKR one of the four HF been accused for inside trading?
I had the similar problems before. Instead of GTC, I enter the order day after day, then the problem disappeared. Hope it'll help.
I'm in computer business for all my life, and never heard HP ever filed any BK.
I think EK used to have preferreds but were redeemed.
One thing I don't really understand.
The moment Lehman filed BK that means Lehman declared default on all her guarantee and liabilities. So, regardless who guarantees what, it doesn't mean anything anymore, unless Lehman comes up additional assets to fulfill her responsibilities.
Is it correct?
Possible because the law firm starts laying off workers.
Legal robbery of $$ 1 billion dollars.
I don't remember who recently posted a message and confirmed NY Mellon is our trustee.
Price are going DOWN. I have my gtc, and wait for you.
Very logical, great long holders, glty
IMHO, there is no class action nor litigation. It's all done by MMs. Watch out the false news from now till 9/3.
Look, the price seems stablized.
It's possible. But, what would be the discount ratio creditors take? Any idea? TIA
Hmm..., it's possible. EK has a lot of abandoned factories and film developing estate. Is it another Kmart conspiracy?
I am not sure, but I doubt.
wow, it's $0.50/share
Wow, now is positive, why?
great. If any institution or hedge fund decides to bring EK to the litigation, then you'll make a lot of money.
I lost the deal in Throngberg. I was too trust Susman but he did not reach any result. You probably still remember this guy while you're in Wamu case.
I just placed an order. It's joyful.
Just placed an order GTC for 20K @0.005/share for a fun.
I found you. It's no risk of buying @ subpenny but don't spend more money before 9/3/13. Like buy a lotto tickets.
of course it's worth to keep CTs on long shot @ sub-penny.
Sorry could not find your original post.
Glta
Whatever the assets could be liquidated are liquidated till then. Whatever the assets could not liquidated form Lehman2 shared by all creditors including CTs.
Plus all those bad lawyers are paid by us.
Because one of many stories, callable date leads to calling date, is past due. Did any one receive a notice of calling action????
Matty, please don't mention Wahuq because I still feel great pain. Our money is still with LTI. Damn...
By the way, some people confused Wahuq vs TPG's CTs.
Technically, yes. I think that the creditors would like to see Chapter 11 liquidation because of recouping values as now. Instead of Ch7 auctions, liquidation could be last longer until the financial crisis over. The value could be increased.
Like you mentioned that bond price is only about 20% FV. We'll see how it goes next 3-6 months. Thanks for your DD.
fully agreed. excellent idea. I just averaged down my portfolio to negative. In other words, I won't loose a penny if Lehman pays nothing on CTs.
There is an excellent comments on Wahuq board #2682 by Mr. M. He is the expert of BK experts. His comments are exactly as yours. "If subordinated bond holders get nothing, the same as CTs holders"
The expectation I have here as follows
1) Lehman goes to re-organization NOT to Chapter 11 liquidation.
2) All unpaid bond holders and CTs get new shares of Lehman2.
If (1) were down, CTs see NO PENNY.
fully agreed. I opt all my wahuq(CTs) in cash, no wamu2 shares. Up today, my money is still with LT. As far as P & K, get all new shares as Dimeq as well. Such a big pain. At that time we believed a 15-20% recovery on FV. It's joke only got 1.5% recovery. Damn Judge Wrath. She's with JPM.
I sold some @0.30 and up. It averages out my portfolio to negative. I longer sell anymore, just patiently wait.
I lost a big deal of Eastman Kodak today because I go by my feeling not facts. I truly believe that EK was on the Forbe/Fortune 500 list before. Great name to be recovered. I had many time to average my lost to minimum but I did not do it. It's my mistake, no more in Lehman.
Maybe more than 1 year. We don't see WAMU's NOL yet today = 18 months past.