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Some people should moderate expectancies. POR is going nowhere after next distribution. Read docket 40066- Motion to classify a claim of Federal Home Loan Mortgage Corporation in LBHI Class 3, under the Plan. Hearing on October 24. This 1.2B claim actually is under restricted cash on BS.
We will know soon Cotton. I always appreciate your work, besides the jokes. I mentioned a lot of times, my positive perspective about the RSUs, but I read too much optimism without enough evidence to support it. Going on vacation to Australia for a month. Goog luck to all of us.
We will know soon. Enjoy your dinner with Skywalker.
That liquidation plan is the POR. A chapter 11 liquidation.
I couldn´t find any. Im not saying that LAMCO´s theory is right or not, I just couldn´t find any docket suggesting LAMCO is the reemerging company.
Well, If nothing comes out of this uplisting, at least you could sell 1/3 of your position. Excellent trade.
It seems some poeple were misinformed about the subject.
I think JPM uplisted CTs after the waterfall of emails they received asking about the guarantees. But I can be wrong and maybe Lehman is behind the scenes..
Some fellows talked with Administrators about the end of the POR on next payment. Stockmojo and Lortap are the guys with open line.
My dear stockmojito, I did answer to Guster about the subject. It is a very positive signal. But I want to see what happens with N´s uplisting. Everything will be clear next days after this distribution, until a new theory emerges..lol
Im preying you are right. Seriously.
also...in case you don't know......everything here is chatter...from cotton to heistheman to myself to you to whomever...no one have concrete answers...that is why we are here....the point is to me at least with this play and others is to make monies.
The most clever comment I read. It is only chatter, and it is not personal with anybody.
You were boring without chatter and I gave you some.
By the way,
Pro Rata Share of further Distributions, (YES)
if any, to the fullest extent permissible under the Bankruptcy Code
BUT
in satisfaction of postpetition interest on the Allowed amount of such Claims at the rate applicable in the contract or contracts on which such Allowed Claim is based (or, absent such contractual rate, at the statutory rate) until such time as all postpetition interest on all such Allowed Claims has been paid in full.
There are 250B on claims waiting for its post petition interests..even I remember that Mr. Hestheman mentioned it is probably secured claims, I read allowed claims.
mmm, Ilustrate me please, but if you expect some waterfall after the POR, it is because there is available cash...what do you expect, chairs?
misinformation...ok. Maybe you are right, Im not an expert on this. But you are not the right guy to accuse me about it. I was reading your chatter for 3 years about the LAMCO matter and all information in the dockets...and I never saw a simple and concrete reference number, only to da moon and gooberland.lol
doctor the plan eventually stipulates a distribution..agree? But what about
8.13 Maximum Distribution.
(c) To the extent that any Debtor has Available Cash after all Allowed Claims against that Debtor have been satisfied in full in accordance with Section 8.13(a) of the Plan, each holder of each such Allowed Claim shall receive its Pro Rata Share of further Distributions, if any, to the fullest extent permissible under the Bankruptcy Code in satisfaction of postpetition interest on the Allowed amount of such Claims at the rate applicable in the contract or contracts on which such Allowed Claim is based (or, absent such contractual rate, at the statutory rate) until such time as all postpetition interest on all such Allowed Claims has been paid in full.
Yes, it is hard to believe an uplisting for nothing. But it is also hard to believe these prices when divis are around the corner.
I don´t understand why you don´t tolerate any different opinion. Maybe I put the idea into wrong words, but anyway, my opinion about the subject was posted a lot of times. I think is time to wait and see what happens next days about the BCS chatter and divis.
I always said it is a good point in favor of CTs fate. In fact, the only one. I don´t believe on the rest of DD that some people posted. Of course, I can be absolutely wrong on this, and I will be the first recognizing that.
Id like to see N´s uplisting before a judgement about the subject. I see JPM hands on this uplisting, but again, it is my speculation.
NO I didn´t forget it. And you are right, It can be satisfied..or not. Your assumption like me, In fact, Id be very happy with some remaining money, but it is your assumption. We don´t know how it could end, after payments of interests. We are only speculating.
It would be nice.
95k on CTs.
of course this means chp. 11 liquidaton which is fine because the POR will be satisfied in full
No, in that case, the POR never will be satisfied in full, till the end. Probably not good for anybody because of the Trust never will have available cash.
There will probably be a recovery in the area of $80 billion.
Ok, almost 30B above the POR estimate..but who are the beneficiaries?
Withdrawal of claims faded last month. It will be interesting to know the remaning quantity.
Chapter 11 liquidation. I want the credit on this if it is the case. After all, I am saying that last 2 years. It would mean discharge of all classes if there is satisfaction in full. Remaining illquid assets going to RSUs owners. Too much work classifying them. Mr Schager just dissapeared. lol
lol You make me laugh. Thanks
The heading of this section reads “Section 1401. Junior Subordinated Debentures Subordinated to Senior Debt and Other Financial Obligations.” However, the first sentence of this definition states that the Junior Subordinated Debentures are subordinated to “all Junior Subordinated Debentures.” The Debtors believe that the reference to “all Junior Subordinated Debentures” was a typographical error and that the clear intent (as reflected in the definitive Junior Subordinated Debentures themselves) was to subordinate the Junior Subordinated Debentures to all Senior Debt.
9 Unlike Section 1412 of Supplemental Indentures 9, 10, 13, 14, 15 and 16, Section 1412 of Supplemental Indentures 11 and 12 makes no reference to Other Financial Obligations, but provides that under certain circumstances the subordination in Section 14 will cease to apply to the Junior Subordinated Notes. For various reasons, the Debtors believe that this is a drafting error in the documents and that it was intended that the Junior Subordinated Debentures are subordinated to “Other Financial Obligations” to the same extent as in Supplemental Indentures 9, 10, 13, 14, 15 and 16 – i.e., that “Other Financial Obligations” are entitled to “Excess Proceeds” only after “Senior Debt has been paid in full. However, because Senior Debt will not be satisfied in full, and, thus, there will be no “Excess Proceeds,” “Other Financial Obligations” are not classified as senior claims by the Plan. Thus, whether the Junior Subordinated Notes are subordinated to “Other Financial Obligations” under Supplemental Indentures 11 and 12 is irrelevant.
I have no idea what is going on with Ns, but is logical to expect the same treatment.
lol, better than your employee on vacations, delaying N´s uplisting.
It would take 1 day to put pps at 0,05.
I don´t know if LBI is ready to close out their liquidation. But I couldn´t find out any relation between CTs and LBI. I remember we did discuss the CDA agreement before, but it is not clear so far, at least to me, if these CTs are or not under that agreement.
Customer claims? No relation imo.
July Operating Report out. 11.9B on free cash.
There is an interesting reference about the CDA agreement:
(n) The decrease in LBHI restricted cash relates to (i) the transfer of $136 million to Debtors and Debtor-Controlled Entities for cash collected in June 2013 from LBIE, and (ii) the release of $66 million related to securities transferred to LBHI under the CDA with JPM.
No, you don´t understand the point. Im not discussing the October 3 distribution´s significance. It can be the last, or not, payment.
I just read you have a big level of confidence with administrators. You talked with them some times so you posted inside - no official - information and I appreciate that!
Ooops stockmojito, I read another thing on this post!
"I just spoke with an administrator again and they are all working in lockstep with the final POR payment in site."
Post 31354
I did suppose you have a friendly chatter with administrators!
Dear stockmojito, you are in first line to see the End of the POR, after all you have inside information I haven´t.
Of course they can liquidate after the POR. Except the recent uplisting, everything suggests that. LBHI sold all core business out, commercial bank, investment bank, real state and even their best building proyect is on sale..no core business except a mess of derivatives..
And they can discharge all classes after that too...but you are the man on the table with administrators. So, Im waiting for the best to all of us.
mmmm were the underwriters entitled to make a market by prospectus? discontinue and uplist?
"You may not recieve" doesn´t mean "you won´t recieve", an obvious statement. lol Just a semantic discussion while drinking a coke.
This point looks interesting. What do they want to mean with "you may not receive" statement? Is or not the holder the owner of pending unpaid interests?
The guarantee will not cover payments when the trust does not have sufficient funds to make payments on the preferred securities.
It always was the real issue. In fact, they mentioned the matter on Exhibit 10. Beyond all the comments about excecutory contracts, I still think wee need an End of the POR. Without that, the Trust never will have funds, and they explicitly did tell it to us.
"I just spoke with an administrator again and they are all working in lockstep with the final POR payment in site."
This is a strong statement. An adiministrator on this case literally telling us that the End of POR is close.
Yes, they had a 60 days restriction, actually over 90 days. It is the first time I don´t see the normal hurry to selloff their assets.