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What interest you the most about the Waske Motion?
Deadline for responses is May 18th! It will be interesting to read the responses.
To me, this is beyond reclassification. Did you guys read Waske? If not, you should. If needed, someone outside of the BK should review this.
Did you read Waske? Please do so.
Waske is talking about the obligation to correct the error. You should read the Waske motions.
Wu should hire an attorney and sue them at the federal court level because according to Waske, the Plan Administrator lied to the Appeals court too. The Plan Administrator also lied on his motion. The Plan Administrator knew we were in parity with the Neuberger Berman equity or any other equity of LBHI's affiliates. This is huge!
We need to call the COPS!
Someone should email our trustee or write them a letter to tell them they should investigate the Neuberger Berman transaction as it pertains to the fraudulent classification of the CTs. We need to alert them of what is going on and alert them of the potential fraud.
I think the bankruptcy court, the trustee and LBHI are obligated to investigate fraud and fix errors. That is what Waske is eluding to. If they do not, we should sue them in federal court. Where on earth is our trustee? Are they a part of this fraud scheme too?
Is Waske on here? He probably already got the information on the 400 million in fees because he would not have brought up the "errors" if he didnt. He did call out the fees as a motive. 400 million is real money. And LBHI had claims too. I wonder what else does Waske know? I wish the guy used the word "fraud."
My favorite part of his motion is that he exposed the fraud and now LBHI is obligated to fix it and the court cannot ignore it.
The Plan Administrator booked 400 million dollars in fees leading up to the emergence from bankruptcy. Did you guys read that from cottonisking's post? That is material money and Waske is calling that out. Neuberger Berman was sold during the bankruptcy and before the POR was written as per Waske. The Plan Administrator knew we were in parity with Neuberger Berman and still committed the fraud. I hope Waske nails them. Very interesting.
The answer is LBHI will lose the automatic stay and folks can sue LBHI. Also, if it goes beyond the max time, they can even lose the BK status and LBHI dont want that. Those are mechanisms put in place to make sure BKs dont go on forever. The theory is, if you can survive way pass the allotted time, maybe you dont need the bk.
I read the latest response from Waske. I wonder why didn't the Plan Administrator dispute the error? I was not expecting that type of a response from Waske. I can tell Waske did his homework. He is methodical and have a game plan. I believe Waske just covered all the CT holders if there is an error. The Plan Administrator is obligated to fix errors. For what its worth, I think the LBHI and that guy Fails committed fraud. Waske called him out big time.
I am in on the Rico lawsuit. The proof is known now.
I think Rex needed to file the appeals. They switched it for some reason. That is my take. Regardless, the action is with waske now. I think waske is different and seeks rulings specifically on their arguments. Waske is interesting.
Dated 2008?
Neuberger Berman. You guys should read the waske motions and filings. They are good reads.
I was involved with lawsuits in the past on both the winning and losing sides. I am just talking from experience.
The fight is no longer on the reserve motion. There is a default there. Now the fight is with the summary judgement. I dont see anything on there that can be disputed. Waske did a good job there. He painted a timeline and listed the violation and backed it up with evidence and law. It looks professional.
That is all for my comments. Good luck to Waske.
I dont think the objection is valid. There is a motion for summary judgement. On top of that, it's a weak objection from top to bottom. The shocker is LBHI just confirmed the parity with NB by not refuting it. And practically admitted there is some type of error.
I wish that Waske would just call it as it is and use the word fraud. Waske did his homework. He went all the way back to the Neuberger Berman transaction. I like that.
I what meant is that if the judge allows a late objection to proceed, it will be travesty. I said that because the Summary Judgement said that LBHI did not file the objection on time.
The objection to waske's motion is garbage. And it's late! If the summary judgement is not granted, it will be a travesty. LBHI can not possibly ask for more time because they filed a late objection already. What is LBHI going to say please grant my late objection that I already filed without first asking the court for permission?
This is weird.
Docket #60484
I am buying sub 1s. How can you not?
I might regret this buy in a few hours. Dow futures down 850 points.
I bought a 1000 shares at 1.82. I believe there is still room on the downside. This is my initial buy on the commons.
Also run stats on the word "affiliates". And ask yourself why?
When the investment trusts comes to light, I expect an apology from you Swiss. Joe just won't care if he has been proven wrong for all these years. You, I expect an apology.
I will go on record to say I am not this guy Wayne nor am I Waske. I see what you and toogoodson are doing in accusing me to me Waske and now Wayne. Its just intimidation tactics. Even Joe, did not stoop to your levels. I am offended by your accusations. The post you have addressed to me, I have responses to but I will not as you are a jerk and a bully. If we are on the schoolyard, I would just punch you in the mouth. Your accusations are just baseless and wrong and meant to intimidate. Good bye.
Lol. You guys have no clue do you? I dont have to prove anything to anyone. Time is my proof. The investment trust is here. Not only is it here, its already being carved up. While you guys are pretending to know it all, settlement agreement, which are on the dockets, are carving up little pieces of the investment trust. ECAPs got settled for Chump change but got what? A guarantee that if there is an entity after the bk, they will get shares. Same with other settlement agreements. Swiss, you did not know this did you? Joe, post a link for you right? Funny stuff. The investment trust is mentioned somewhere on the dockets. You just have to find it.
Debt for equity? Liquidation? Both are not happening. Joe, at the end you will be discredited and forgotten as the guy who kept on bashing for years and got it wrong. Swiss, you will see a lot smaller piece of the pie than you deserve. As for me, my pie is the same as yours but, I have been here for only a few months. My winner is washington mutual and aig. I am here for a little extra change.
The gamers are the ones who are willing to GO GET IT. I was late.
Do you guys know how much the reclass is worth?
Good luck to the both of you. I am only here to make green. I have no interest in debates or arguments. Even though I might have started one with joe. It's a matter of time. I am willing to share info though.
Swiss, when I said you were knowledgable in the beginning is be cause I have not researched everything yet. It's time for a break.
It's not a comeback. It is somewhere. I dont need to lie. It is what it is.
I post how I like. And why are you accusing me to be another poster? I dont knock you or your point even though I think you are off half the time. I do that out of courtesy since we both hold CTs.
Investment trust. Not investment bank. Just to confirm, you said this is a complete liquidation and that the exit already happened right? You said after the exit there will be no surviving entity with confidence. Right? Confirm. I am saying Lehman emerged from bk and when they exit, there will be an investment trust. Just to be clear. You agree?
Its somewhere. I would not have bring it up if it were not. It's on one of the docs. And it's on the dockets.
Open the last financial statement and search "investment trust". That is a quick job.
I did not make it on time. I do not have a joinder. I have to work buddy.
If I do it will discredit all your credibility on Lehman right? That is your theme that this a liquidation. And you rode it like you were a part of lehman and an insider spewing your lies. So, is that what you are saying? I post a link and you admit you are wrong and nothing more than a joke? If you say yes, I will take the time to look it up. Otherwise, you guys can look it up. It's time to pony up. Put up or shut up and not just talk which is the only thing you are good at.
I read about the investment trust somewhere when I was doing my DD. I want to say it's on the last two financial statement footnotes or schedules or was it mentioned on a legal documents. It's definitely on the dockets. I read virtually all the LBIE and LBH plc dockets, as well as Wu, Waske and the RE insurance one on claims. I dont recall the name. I also read the PWC reports for the PLC to get info on LBHI2 and the affiliates. PWC clearly states PLC/Lbie and lehman Europe are affiliates by the way.
I wont be popular to admit this but I support the Trump tax cuts which saved me about 4% in taxes and read the plan on stuff that effect me and I ran into the NOL carryforward change to indefinitely. The trick is Trump needs to make this permanent. I think it is now but not sure. If it's not, LBHI and others have until a certain date to recognize them to have the NOLs be indefinite. And they better do that in 2020 especially if Trunp loses. The Dems will probably roll it back right away 1n 2021. Luckily, the election is in November. So LBHI will be watching the elections lol. If Trump loses, I am almost certain we will see in investment trust in December.
Information on the investment trust can be found on the public filings. It will happen and it will happen after we exit bk. It's not a liquidation. It never was. It's what it is and always have been on the title a reorg. The liquidation route is to force concessions. They explain this if you look up types of chapter 11 bks.
I am also not waske. I am just me.
You mean NOLs? We know there will be an entity after Lehman exits bk. That is a fact now. That entity needs assets. And the biggest boost in value is the NOLs with the Trump 2017 tax cuts. That literally added back about 60-70% of tax offset to the NOLs. That is like 35 billion. I believe at the end, there will be more than 50 billion in NOLs for the newly formed investment trust. I also believe there will be other illiquid assets. This will happen after Lehman exists the bk imo.
This has always been a reorg. Liquidation was selected as a subset to force hands and move things along more favorably. No one can deny that now.