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Capital shall be paid before divi. Senior's divi shall be paid before junior.
If we got divi, it seems that senior discharged everything, and CTs are on its way to get recovery. If not, it'll prove that this board has a lot of dreamers.
GLTA
That's it.
If so, what is the assets left for Lehman2?
Before CTs get divi, senior would get first. There is no way Lehman2 could afford it anyway. Debtors have to pay seniors per agreement. Anything comes out more will go to senior anyway.l It is actually a liquidating CH11 within next 3 years until seniors are completely discharged.
Until we get into 2015, then we'll see how NOLs work out. Any merge or any investors? Could CTs be there or Lehman2 does not need CTs to secure its NOLs? BigOne replaces CTs or share together with seniors and stockholders in Lehman2 in a pre-decided percentage. It's unknown to all of us.
All are question marks, let's play loto.
GLTA
CTs received distribution but reallocated to seniors.
Here is very tricky. If all creditors gave up their rights after 3 years, would they include CTs?
What is the discharging agreement between Lehman2 and creditors? If seniors get new shares in Lehman2, then CTs would be OK. Pref and common holders might get a little or nothing based on priority.
If seniors agree to give up, then they would suck every blood based on liquidation of Lehman2 except NOLs.
You have gone through all WMI2. You knew what's the result.
If you were senior creditors, would you be happy to get 0.18 on a dollar and give up the rest of assets (nols, archstone, etc.)in reorg? If seninor were satisfied, then CTs would be more than 0.25/share. We have seen it yet.....
Like Marayatano said "CTs are lottery". I think Mara is working in a BK law firm. Take his advice and IMHO not buy any if the price is over 0.03/share
By the way, I maintained my portfolio and never sold one share yet.
Like Marayatano said that reorg does not need CTs to hold NOLs because BigOne does the same.
Thanks for the info
excellent questions. Most your answers are "NO" because no response means "NO".
Legally, you're right.l Practically, satisfied = paid
We'll not see a penny until seniors' divi are paid in full.
That's going to be excellent.
Of course. Most likely all major hardware makers will drop Google, and pick up Win8 as the platform for the smartphone and pad.
By the way, Google did not provide enough ammunition for those guys in the patent wars against Apple.
enjoy reading it. It's very clear.
excellent analysis.
Thanks for the info.
GO4
Sorry, I didn't say it clearly. I'm referring to the letter/statement regarding Wahuq from LTI. LTI sent out the statement for the 1st quarter. LTI should send out the similar statement for the 2nd quarter.
TIA
GO4
I'm still waiting for my quarterly statement because I didn't submit my W-9 form in time.
Did you receive your recent statement yet which was ended June 30th?
TIA
FYI
I know I don't compare apple to apple. It happens in the GM case.
I owned GM notes and exchanged to new GM stocks. I thought the game's over. However, I suddenly got 25 shares/1000 share of note from Motor Liquidation Company GUC (Symbol MTLQU). The current market price is around $12.00/share.
I did not own any common but all the old commons were lump into a similarity as ONE share. I knew old GM went into liquidation. Whatever MTLQQ sold reflected to the net assets. I think that the holders of note were compensated 10% (not in full) in the new GM. It seems that's the reason I got some.
Also, both debtors and creditors were agreed to be out of BK court in order to save money. It didn't mean that creditors discharged their claims. Whatever some assets are difficult to be liquidated (i.e. Archstone), it remains into the new Lehman. Most likely, it'll be the same as Wamu, and new shares are distributed in accordance with theroy of waterfall, including NOLs.
This question was asked at least 18 months ago. According to Linda, the senior debts have to be paid in full before us.
IMHO, it has nothing to do with IRA account. Let's inform each other upon receipt of the statement. TKS
Did you receive your statement yet? I'm also waiting for it. Please let me know if you receive it. I'll do the same. TKS
Normally, LT will send out the statement at the end of quarter. Therefore, you may get the statement momentarily. GLTY
I have gone through the same problem here. Finally, everything is in order.
Basically, the problem occured is that our broker never submits W-9 forms. Therefore, you do not get the letter nor statement from Litigation Trust.
So, you could write to the person, and he will confirm you either way.
Mr. David Sharp
dsharp@kccllc.com
GLTY
The exchanged favor is that Chinese authorities allow the American investment banks expanding their activies in China. We'll see more branch offices of Goldman, Merrill Lynch, JPM etc in China.
Chinese bank won't merge into WMIH unless she still holds banking license. Chinese bank doesn't care about NOLs but only interested in banking opportunities.
99.9% agreed to your point. There's possible less than 0.1% chance that senior bond holders will allow others (subordinate, CTs, equities) to share less than 2-5% of new stocks if Archstone goes IPO stead of liquidation. That is because seniors want to take advantage of NOLs. In any rate, like Marayatano said before "We're playing lottery". Everyone believes to have a winning tickets on hand, so nobody wants to sell it.
you may try Epiq Systems
www.dm.epiq11.com
Then select lehman brother holding
At the present, you get a "STATEMENT' only.
$10.49 is not 100% guaranteed. It will be depend upon any future litigation.
Fully agreed to your thoughts. The only questions remained here is where is "old and cold equities in ONE share" going. I, IMO, think "one share" is treated as an escrow account. Basically, it is wiped out.
Whatever illiquidated assets plus NOLs are going to shared among senior/junior/CTs at an agreed percentage in the new LBHI.
Yes, it's another level of gamble. Even CTs are converted into new stocks, but new shares may be worthless because nobody is interested like Wmih's.
In either case, it seems that equities are wiped out. CTs has slight chances to present as owner and join with creditors to share NOLs.
You have one year to submit your release till 3/19/2013. You can contact LTI or your broker how to do it. In other words, you do it through broker or LTI. You can call KCC/WMI/LTI at 1-888-830-4644 or email WMTrust@kccllc.com Attn: Mr. Klamser. He is very responsible, and will direct you the way to do it.
GLTA for longs
Yes, I'm persistent, and still hold CTs tight. I never sold any CTs rather keep averaging down my portfolio.
I remember the only one I sold is Lehmq while I bought on Sept. 15, 2008. I lost a lot money. But, fortunately, I'll recoup it at some degree due to class action. Now, I only have 100 share of Lehmq to see what's happening.
Yes, you're right about 10% of holders were not opt in for release.
I believe that she's around, and fight all her effort in Dimeq.
That's the reason why I'm worried about Lehman's equities, including preferrds and common stocks. I don't like this idea that debtors lumped equities into ONE share. It seems that's an escrow account, and await the possible distribution if A>L. That's exactly like old GM's equities.
I keep small quantity of Lehjq only (i.e. 25,000 shares ) to see what's happening. Basically, I don't hold any hope at all.
IMHO, Most likely at the end is A<L after liquidation is completed. Creditors might still want to keep sucking our blood by joining us(CTs) with sale/utilization of NOLs. That's gonna be the best results for us. Or, it never happens because creditors might not need us. Then, we're screwed. We are buying lottery, aren't we?
In any rate, keep your average prices of CTs below 0.05/share for a fun, or sell it before it's too late. By the way, all my CTs only lehnq is higher because i was stupid while I bought around $0.27/share right after BK, then averaging down to $0.08/share now.
GM old stocks got nothing. I think GM didn't have preferrds. I'm talking about bond which the redemption was 10% of FV + warrants.