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they convinced the bankruptcy judge (as they usually do) that we are not JPM customers but rather theirs and that they will take care of us (under class 10B that is) LOL
No am waiting for "the big short"
The funny thing is that the claim include the CTs. i don't know what “substantial contribution” they are talking about. LOL
Lehman Committee Members Say They Deserve $20M Payback
By Jeff Zalesin
Law360, New York (December 21, 2015, 10:20 PM ET) -- Banks and other creditors' committee members from the New York bankruptcy of Lehman Brothers Holdings said Friday they deserve about $19.6 million in fees and expenses, arguing they helped clean up an extraordinary mess by sorting through assets including complex derivatives and private equity interests.
The Bank of New York Mellon, Elliott Management Corp. and other members of the unsecured creditors committee said they should be paid fees and reimbursed for expenses because they made a “substantial contribution” to resolving the Lehman Brothers Holdings Inc. bankruptcy....
this is only BNY asking to get their fees and expenses (associated with some POC including CTs) under class 7
the document confirm that our CTs are under 10B class
Wayne is that you?
JPM - Lehman brothers - Barclays - Judge Sullivan- fiduciary duties - Cotton's case
"fiduciary duties"
i believe this is for our friends in BNY Mellon. Cotton's case is about JPM-Lehman-Barclays
If you mean Victor Frankenstein, I haven't seen the movie yet. Will till you after I go catch it ?? lol
I tend to agree with SNW. After all, "fiduciary duties" can mean a thousand and one things other than CTs in judge Sullivan's mind. Remember that JPM filed there famous claim (that include our CTs) in case someone file a case against them one day. Is cotton's case enough?? Am not so sure. I hope so
Happy Thanksgiving everyone
Judge Sullivan has nothing to do with POR or any bankruptcy
Camaro, Cotton's intervention was denied as far as I recall !!!
3 years carry back
Thanks rl. Yes that's what happened earlier to creat capital and they have been there since then ( until BK I guess). But to get rid of the CTs as part of capital, they need to sell them ( They need to sell the debt that was issued to the trust???) and of course it gets more complicated in BKs
Banks and companies ( under Dodd-frank different categories) should stop investing in CTs under the provision of desperation of their funds and customer's money. Under Dodd- Frank, and for the CTs to stop being part of capital, they should sell Them and declare profit or loss. In real life, profits go to equity but in our case, to creditors??
Did LBHI ever sell The CTs? How do banks sell CTs?? That I am still figuring out.
wow Wow WOW.. Is that really you constructively discussing with other people?????
You are still misconstruing Dodd- Frank!!!! Read and comprehend what will be "phased out". Actually, there is no need to comprehend... It is literally mentioned there.
IN THE EVENT OF A NEW BK PROCEEDING OR A MERGER....CTs WILL CANCELLED
Hi ines. Why they are not cancelled yet? The BK happened some 7 years ago!!!
Can you show me one word about termination in Dodd-Frank??
Oh not that judge for sure
What about judges rulings ins?? Do you believe in this?
Easy to understand indeed. However, what I posted is difficult for you to understand indeed
Then the judge denied Cotton's claim. In the denial, the judge say that this JPM vs Lehman case is still open. Therefore, everybody assumed that our money is in this case( why would the judge otherwise mention it in his denial reasons). Now that the JPM vs Lehman case is a hot potato and almost going for JPM side per the new ruling, we believe that JPM will pay CTs to fulfill their fiduciary duties.
Cotton, anybody, please correct me if I am wrong.
No not you Bus driver Lol
100 KQs traded. It worked LOL
My KQs still showing zero value!!!! Anyone else?
I meant funny in a good way this time
Anyone (other than noway) knows wat happened to LEHKQ? They are showing 0 value in my account. !! Did I miss anything?
Some times u can be too funny LOL
So why not 160% or 180% for that matter ??
i don't know why I am shown as moderator????
Maybe he lost 44 cents or more in this bankruptcy!
They do this filing every 3 months. Why de listing now??
a lesson for the guy who is saying creditors are using NOL.
Creditor: Intel
Debtor: Lehman
Creditor claiming for 1 Billion
Debtor say it is only 873 Million
Creditor can not claim the 127 Millions as NOL
furthermore, if they could claim this as NOL (and they can do that in certain cases) DO NOT MIX THIS WITH LEHMAN NOL
And who are the holders of equity interest in the subsidiaries ?
I think the answer is in the question itself
The press just want to explain to people ( outside this board and other people who don't know anything about this bankruptcy). They are just saying that LBI is (actually was) the brokerage unit of LBHI. Everybody hear about Lehman Brothers but not all of them know the details. I hope our CTs will be paid off by this freebie deal 1.35 B . The funny thing is that LBHI paid way more than that for something they sold. Strange finance system no?