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If you do not understand the guarantee, I would not worry about it. I believe at the end, all CT holders will get some sort of payout. I cannot guarantee it but, I believe in it based on the knowledge that I accumulated during the short time I was here.
Junk or not, I am rolling with it. I made sure I read the general guarantee before I bought. I think you and that Joe guy thinks we are picking between the general guarantee and the prospectuses subordinated guarantee. Lol. Now, that is funny especially coming from the people who claim they know it all about the CTs.
I only understand what I read and from what I am reading imo seems significant.
You guys have a good debate. I think the knowledge I seek further cannot be found on this board. Let's see what joe have to say and I will determine if its worth my response.
Who is picking and choosing guarantees? Please explain your view. Is that what you claim Waske and Wu are doing? Thanks.
It will be very valuable. They can merge with the investment trust. The accountants and lawyers will find a way and make it happen. The NOLs wont expire so, the carryback can be view as a bonus.
Only one part of the SRM decision applies to us. That is the part about the general guarantee.
Also, I believe ECAPs got settled. No?
At the end, imo we can still see a part of the investment trust by doing nothing. That is just my opinion.
Interesting. The timing of the Wu letter and the Response is back to back. I have not read the response yet but look forward to it. Have a safe and pleasant weekend.
Yes. And the carryforward is indefinite. That means the NOLs are worth face value. Thank you Mr. Trump! Is there an accountant on the board who can chime in?
Imo, the investment trust will benefit everyone at the end. I believe the NOLs will be a part of it.
I am not sure what your point is about affiliates? LBHI do not have a controlling interest in LBIE. They are an affiliate.
My point is the CTs are in parity with LBIE's most senior equity. That's all. Good luck to everybody.
That is my understanding from reading the Wu transcripts and waske motion. I could be wrong but, I am going to go by that assumption.
Subsidary vs. Affiliates
https://www.investopedia.com/ask/answers/06/subsidiaries.asp
I believe the overseas lehmans are affiliates. I could be wrong. Ask waske.
Wu's letter imo do not effect anything. It's a letter to judge Chapman. The document we all want to see is the Waske response. That is the important one.
Have you guys ever called or emailed Wu or Waske? I might email them and ask if they will be willing to talk to me.
I am eager to see Waske's response. LBHI dont want Waske to have a hearing. Do you guys think Waske is going to a hearing? Thanks.
You have to have knowledge of and rely on the general guarantee when purchasing your CTs for the general guarantee to be effective. That is my understanding.
I found out about the SRM Decision after reading the Wu transcripts like waske did and that was shortly after the ruling on july 2019. I am more aligned with Waske than Wu. I did not have 12 years. I am glad I am a late comer.
Is there subordination and is waske asking for a reclass or a claim? I do not believe waske responded yet. Correct?
The way I read the Wu Letter is LBIE p stocks are not LBHI's equity but it's the affiliate's LBIE's equity therefore it's not a LBHI debt. The subordinate guarantee do not cover equity of affiliates. It goes on to name other affiliates equity that the CTs should be in parity with. The parity is with equity of affiliates. Wu made it clear by saying the key word is affiliates. Now, the question is did equity of affiliates get paid in this bk? If so, we are in parity with them and should be reclassed to their class because we will no longer be in a subordination class.
That is my take on reading the Waske motion and Wu letter.
Wu also went off on the SRM Decision content. Lol
I don't think lawsuits will delay the process. I believe they will just reserve for them. If Lehman is ready to exit bk, they will regardless of lawsuits. The question is the investment trust ready?
When will the coop NOLs expire? They have about 6 billion worth right? I looked into wmih a few years ago but had already missed the conversion boat. I came late to the game. I like lehman here because of the trump tax laws. I believe their NOLs can carryforward indefinitely. That is big news. If a company can carry over NOLs indefinitely means their next 50 billion is taxable income is not taxable.
Who knows when there will be another 50 billion available. That is 100% worth of value. Without the expiration, the value is what it is 50 billion and not a percentage or a tax rate.
If those are new NOLs meaning the investment in affiliates becomes a loss at the close of the bk, it will carryforward indefinitely. That is because of the Trump Tax Cut Law in 2017 which takes effect in 2018.
You can find it online. Google it. I found mine online. I also have a pdf copy.
Picked up 10k mq and 3k lq at .11 and .1099. I am relying on the SRM Decision as stated on the June 19 2019 ruling stated by Judge Chapman.
They dropped at ask at the end of the day. Around 11 cents is good enough for me.
My bids are now on the higher end since the asks went from .1199 to 13s. I am building my position until I cant build on it anymore.
I picked up another 6000 shares at .099 today. I am not going to chance it. I share all the arguments and am in the same situation as waske and I relied on the June 19th hearing after I found out about the guarantee from judge Chapman to buy all my shares.
If I were to file my own lawsuit, it would be similar. That is why I am going to send in a joinder.
The CTs are not subordinate to equity. We are subordinate to senior debts only. Not equity. I will keep buying on the cheap as I am relying on the Wu ruling. Good luck my friends.
I will be joining the waske lawsuit. I did my research over the last week and waske and the joinders are right. LBIE senior preferred shares A and B are not debt. They are equity. One of the joinders pointed that out to the court reaffirming waske. The CTs are in parity with LBIE A and B shares because LBIE is am affiliate.
I bought all my shares in late 2019 after the Wu ruling after I read it and relied on his detail. That is what prompted me to buy and waske reaffirmed my point.
I have a good chunk of shares now and expect my rights to be honored.
What is your strategy in buying? I am in the market for few more shares. I usually bid on the lower range and wait it out. Thanks.
Do you guys have any information on the new investment trust? I read a few settlements on Judge Chapman's website which were attachments to responses and a few mentions new shares but dont give details.
Lately, I read something on here about an investment trust. Can someone explain that? Thanks.
The information associated with the ticker seems recent. Who knows, let's see what happens.
Did this just started showing again? Ir has it always been there? I thought lehnq was delisted. Thanks.
Anytime you want. I just placed an order for 10k shares at .10. The bid dropped.
Can you screenshot that? I just want to see what information is there.
Newflow: Maybe they just created the account but it's not ready yet. They might need court approval. My understanding is equity is placed in an escrow account and replaced with one share but all rights of equity remains intact.
Edited for newflow
If you look at the list of sellers, there are banks and other institutions selling the debt. I know some institutions need waivers to hold stocks under 5 dollars and under 1 dollar each year. Lehman picked year end for the auction imo because they know it's near tax time and plus expiration of waivers. Maybe they sold for the tax loss because 2019 has been a great year for stocks or maybe because of company policies. Those are my thoughts.
No, you are not. And I hope you are right with your analysis.
I got 4800 shares total out of a 55k share bid. Almost 100k shares traded today. They gave me peanuts. Luckily, my broker is commission free trading.
I got filled partially on 3 of 4 CTs today. They filled me at bid for lehnq, lehlq and lehkq. I did not get any lhhmq shares. I wish they would give me more.
I am still watching. I did not buy in yet. Let's see if there is gold. Good luck guys
Thank you for the tip. I appreciate it. You just taught me something. I will place the amount of shares to be 7-10k shares in the morning. Good night.