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We will see a newco and Tilson shorties have to cover
The price is not zero because CTs and OBS
are similar to a call option to the LBHI assets
59791
Docket
I hope a merger like bankruptcy American Aiirlines (2012)
Maybe with Deutsche Bank ??
Docket 59783
Rex wu
Hearing
Tomorrow
Docket 59775
Transfer agreement citigroup
730,981,000 USD
Please read the book the greatest trade; John paulson.
In 2006 everybody said John you are so grazy go out!
Don't sell CTs. I hold OBS common stock.
https://www.google.com/amp/s/markets.businessinsider.com/amp/news/lehman-mortgage-trust-2008-4-moody-s-upgrades-and-affirms-256-4-million-resecuritized-and-repackaged-rmbs-from-5-deals-following-the-implementation-of-updated-structured-finance-1028254494
Jun. 4, 2019, 07:46 PM
Lehman Mortgage Trust 2008-4 -- Moody's upgrades and affirms $256.4 million resecuritized and repackaged RMBS from 5 deals following the implementation of updated structured finance...
https://dm.epiq11.com/case/LBH/info
update FAQs
6. ... Please note that pursuant to the Supplemental Order Extending the Period to File Objections to and Requests to Estimate Claims (Docket No. 58847), the Plan Administrator may object to claims until March 6, 2020 or a later date that is fixed by the Bankruptcy Court.
7. ...The record date for the July 18, 2019 distribution is June 17, 2019.
42. ...In return, the creditor received a premium to the estimated Plan recovery percentages and also received full payment of the entire recovery in the initial distribution or the first distribution after the claim is allowed.
45....It is unknown how many distributions there will be.
56...Creditors holding unsecured claims against certain Debtors greater than $50,000 had the option to have their claim treated as a Convenience Class Claim on their ballot for voting on the Plan. That option is no longer available.
More information:
Lehmanbrotherstreasury.com
who can find a docket about the
"lbt-exchange bond". I never heard about it
thanks
https://www.boerse-online.de/nachrichten/zertifikate/lehman-pleite-insolvenzverfahren-fuer-deutsche-privatanleger-abgeschlossen-102821791
"Uncertain investor was Monika K. (name known). In January, she had received from her savings bank a difficult to understand exchange offer for their still in the deposit Lehman certificates. A little later it was said: Command back - the exchange offer does not apply to them. You get paid a final cash distribution. BÖRSE ONLINE explains what's up:
Is the Lehman settlement over?
Yes, at least for private investors who still hold certificates of the Dutch subsidiary Lehman Brothers Treasury (LBT) in their accounts. The LBT also went bankrupt in 2008 as a result of the spectacular bankruptcy of its parent Lehman Brothers Holding Inc. (LBHI); she was mostly the issuer of the Lehman certificates sold in Germany. The insolvency procedure in the USA, however, is not over yet (more info under: www.lehman-docket.com). There one would have had to register his claims directly. It was not necessary in the Netherlands.
What's up with the final cash distribution on LBT's certificates?
Only so-called "qualified noteholders", ie professional investors, were given the opportunity to exchange their certificates for an exchange bond. The information about the exchange offer has apparently also been misleadingly sent to private investors such as Monika K. by some German banks. But the offer was not meant for them. As the responsible liquidators of the LBT of the law firm Houthoff in the Netherlands informed the BÖRSE-ONLINE editorship, more than $ 400 million were distributed in 14 tranches alone to date for the 59 issues with the German Securities Identification Number. In addition, a final final payment of approximately $ 187 million was made on May 2 for both private and professional investors who have opted out of the exchangeable bond. Of this, $ 13 million was paid out on German securities numbers.
Why do professionals receive an exchange offer, private investors a final payment? Is that a disadvantage?
You cant say it like that. Unlike professional investors, the liquidators would have to offer private investors worldwide a public exchange offer - a virtually impossible endeavor. Something else was added: The Dutch settlement process was always on the US procedure. The payouts from there, according to information from Houthoff recently lower, so it was increasingly uneconomic to make the payments to more than 3700 securities identification numbers in 22 currencies. Therefore, the liquidators have sold a large portion of about $ 10.5 billion of their total claim of just over $ 34.5 billion. The proceeds plus other monies released have now been distributed. Since many Lehman investors were a bit older in the bankruptcy, they would probably be better served, also because the settlement in the US can take years. "The Lehman settlement in the Netherlands is now closed to private
If fnm goes up lehman goes up
Fnm goes up
You are golden
Docket number?
It´s by far my longest speculation. I startet in 2007 (Financial crisis) and survived the crash in RBS, BoA, FNM and Wamu. With research, experience, intuition and good luck most of my money was not lost because I "parked" it in lehman commons. I was sure lehman will "soon" come back again. If exit is in 2020 this will be a 13 years speculation and 10 years with commons OBS. My price was 5 Cents; all-time-high in 2007 was 7,000 Cents - crazy. If you give me 10 bucks back I will buy the FED
50 Cents and my return after taxes will be 17% (13 years). Then I´m on track
I have no CTs but your return will be great!
Correct jearsey
5 bucks in 2020 is better for you than 10 in 2021.
The time is more important.
I only have to know:
1. when is my exit? (I hope 2020. I invested so much work and money. I´m tired. 10 very long years...)
I can´t imaginge a payment in cash. I think we will see a newco fintec-bank...
2. What will my return (for you return on CTs; for me equity common stock). CTs 2-20 USD for CTs and common 0-2 USD.
Who can give me a link or docket number to the case Mr Wo
ecaps is a sword of damocles. the court has a problem to put ecaps into obs. ecaps will be liquidated. Then obs and CTs are golden
April 01, 2006
First the bad news: the securities valuation office of the US National Association of Insurance Commissioners (NAIC) has ruled that the very first Lehman Brothers ECAP is equity. Insurers would be required to hold greater amounts of capital against ECAP structures that are regarded as equity rather than preferred securities.
Spreads on ECAP deals widened by up to 10 basis points in reaction to the news before bargain hunters emerged. Eventually the deals closed just 2bp to 3bp wider at plus 71bp to 76bp. When launched in August the 60 non-call five hybrid capital deal priced to offer a spread of three-month Libor plus 78bp, so investors are still in the money, while the tone of the whole hybrid market weakened.
The good news is that some informed observers believe this decision is likely to be reversed in the coming weeks once the regulators get a proper handle on the structure.
“The NAIC have made a mistake. They did something similar with Rabobank last year,” says one banker. He suggests that, as in the case of Rabo’s pref deal, the ECAPs structure will be eventually classified as preferred.
JPMorgan’s Kabir Caprihan says: “We believe that the ECAPs will be classified as preferred securities... the ECAP is definitely not debt or common equity.” JPMorgan believes that it might have been the replacement language in the ECAP structure that persuaded the NAIC committee to classify it as equity. The replacement language requires the borrower to replace ECAPs with capital that has similar properties.
However, an essential point is the way the security ranks in the event of liquidation or winding up. ECAPs is senior to Lehman’s perpetual preferred stock – securities already classified as such by the NAIC. It seems unlikely therefore that ECAPs can remain equity as equity always ranks last.
Originators and issuers will be hoping that this is indeed the case, otherwise investors will require equity returns to justify the extra capital hit and the US yankee tier 1 market will suffer greatly as a consequence.
https://www.euromoney.com/article/b1321xllt3ljyv/us-hybrids-should-we-panic-over-ecap
By Dec. 2, 2001, Enron had filed for bankruptcy.
The company paid its creditors more than $21.7 billion from 2004-2011. Its last payout was in May 2011.
https://www.investopedia.com/updates/enron-scandal-summary/
21.4 bill Allowed Claims against itself
Fuld wanted do save Lehman. The plan was spinco but it was not allowed. I think this 21.4 is similar to spinco.
-------------------------------------------------------------
Lehman's Latest Plan To Save Itself: Create A "Bad" Bank
Sep. 4, 2008
With a tip of the hat to the late eighties, Lehman is now rumored to be considering creating a second bank called Spinco that will take $32 billion in commercial mortgages and real estate junk off Lehman's hands.
Bloomberg: Lehman Brothers Holdings Inc. may shift about $32 billion of commercial mortgages and real estate to a new company that will be spun off in a move similar to the good-bank-bad-bank model used in the 1980s banking crisis, two people briefed on the discussions said.
The bad bank, nicknamed Spinco for now, would have about $8 billion of equity coming from Lehman, the people said, speaking on condition of anonymity because the plan is one of several under consideration. Spinco would borrow the remaining $24 billion from Lehman or outside investors. The New York-based bank would replace capital put into Spinco, whose shares would be owned by current Lehman shareholders.
Lehman Chief Executive Officer Richard Fuld, 62, is under pressure to strip the firm's balance sheet of hard-to-sell assets. To raise cash needed to cope with losses from a wholesale disposal, Lehman has been talking with Korea Development Bank about a capital infusion and with private equity firms interested in buying its asset-management unit.
https://www.businessinsider.com/2008/9/lehman-s-latest-plan-to-save-itself-create-a-bad-bank-?IR=T
thanks Jovi
page 12
last sentence
(3) LBHI is the holder of Allowed Claims against itself of approximately $21.4 billion, including: $1.2 billion of Class 3 Claims, $15.9 billion of Class 4A Claims, $0.4 billion of Class 4B Claims, $0.6 billion of Class 7 Claims, $1.2 billion of Class 9A Claims, and $1.9 billion of Class 9B Claims.
we are golden.
Daisy holds 5-7 mill lehmq
In 2011 I sold my Fannie commons and bought Lehman commons (LEHMQ). Now I´m waiting for an attractive outcome. 0.3 USD is ok.
The Fannie-market value is important to value Lehman.
Hope Fannie will be pushed in 2019/2020 to 5-10 USD.
docket 59574
http://sidedraught.com/stocks/LehmanBros/Dockets%20-%20Filings/
page 11:
"...LBHI could ultimately have been the primary creditor of the Partnerships..."
Frequently Asked Questions
Updated February 15, 2019
https://dm.epiq11.com/#/case/LBH/info
https://www.rnz.de/wirtschaft/wirtschaft-regional_artikel,-lehman-pleite-heidelberger-tschira-stiftung-verliert-klage-_arid,420770.html
translator:
Heidelberg. (dbe) The Heidelberg-based Klaus Tschira Foundation and an investment company of the deceased in 2015 SAP co-founder Klaus Tschira have lost according to the Wirtschaftswoche in the last instance a lawsuit against the bankruptcy administrator of Lehman Finance AG. As the magazine reports, Tschira had secured a large SAP share package at Lehman Switzerland against price erosion - a perfectly normal business for persons with a large share capital.
After the Lehman bankruptcy in 2008, the patron of bankruptcy trustee PricewaterhouseCoopers (PwC) demanded around 640 million Swiss francs from these transactions. According to Wirtschaftswoche, the Swiss Federal Court dismissed the lawsuit on 17 December in the last instance.
Following the ruling from Switzerland, another trial of the Tschira Foundation in London is likely to resume. It will be about further claims from SAP hedging transactions and a large sum that the investment bank Lehman had transferred to Tschiras companies shortly before its own bankruptcy. According to Wirtschaftswoche, the insolvency administrator PricewaterhouseCoopers demands these millions back. In 2014, claims amounted to 186 million euros, which PwC plans to distribute to affected Lehman creditors. Including interest rates, it is likely to be well over 200 million euros today. The proceedings in London rested after a court
I#m sure the commons are golden. Therefore CTs are golden too. RSUs are equal to commons. RSUs are restricted stock Units for 20.000 ex-lehman employees.
In 2014 the judge said RSUs counted as equity common stock.
At first they need a solution for ECAPS 1.5 bill. Then they can start newco with CTs and OBS. IMO. 5 bill OBS pref and 2 bill CTs
Yes it was Daisy. 5-10 mill Shares.
I only need 20 Cents for commons. More is only nice to have.
It´s a net return of 12% p.a. (10 years, bought for 5 Cents).
Therefore a gain of +300% is ok for me. It is 8% more than the 4% inflation
I´m sure we will see a newco and maybe no face value for the CTs but a very very good return. IMO 5-10 USD; 2.000-5.000%
If you buy NOW CTs you will get the best return in your lifetime. Maybe.
That's my speculation !
Jersey thanks
Look my experience in the stock market is 30 years.
I was 2 times nearly bankruptcy.
If commons get nothing game over to speculate.
If not, new all-time-high for my capital.
Listen, Wayne will make 5.000% and my gain
500-800%. 2020. That's my speculation ??
I have no CTs too.
I bought commons until delisting March 2012 and then I was all in.
Lowest price for me was 1.6 cents; highest 10 cents
So, I paid 5 cents and I have so many commons you cant imagine.
I know the watterfall problem very well
but I am sure I will see some recovery (20-40 Cents I hope)
and you will see more recovery...
I like this kind of speculation. The most people lost very much money in the new economy bubble. I also lost all of my money in 2002-2003 but I had the power for a big comeback until 2007. 2007 was my very successful exit. 2008-2011 was my investigation in the financial crisis. I made research and I startet to buy Lehman. I never hesitated to think about to lose all of my money. Listen to me Joe stocks: never.
We are golden says my research, my experience and my intuition.
I like you Joe stocks. It´s amusement
I hope 2020 is the end.
No extension please ! Wayne I hope 2020 is over...
This is my longest speculation.
New Economy for me was 1997-2007
10 years (crash included). It was heavy but I made money...
Lehman 2008-2020
12 years (crash included)
2020 is ok for me
yes wayne lbhi is holding 20 bill in Claims and there is a reason.
In August 2008 Fuld wanted to create a newco (Name spin real estate or so) with 20 bill "to save equity" was his statement. It was not allowed. In September Lehman was official insolvent. But in reality Lehman was not insolvent; Lehman was illiquide (cause of the morgan satan). The 200 pages study of Prof. Ball shows that Lehman had between -2 bill to +25 bill equity; take the median 11 bill.
Again. I think the 20 bill is for newco and equity will see 10 bill (50.1%). nols market value is 10 bill too
this 10 bill equity we have to split into the equity classes satisfied in full or not satisfied in full.
Lehman was never insolvent. We have a snowball system and Lehman is on the top of this Luzifer-system. Lehman is a member of the FED.
My opinion.