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It depends on the parties involved to handle BK procedures and attitudes.
GM was faster and soon making profits after reorganization. No greedy attorneys, no parties dared to take advantage of Governments money.
”
- LBT is planning a final cash distribution to its creditors. To fund this final cash distribution, LBT will sell part of its allowed class 4A intercompany receivable against LBHI (the "LBHI Receivable").
- “Qualified Noteholders” that hold “Eligible Notes” will have the option to retain their note investment by electing to receive a substitute instrument ("Substitute Notes") denominated in US Dollars (Qualified Noteholders that elect to exercise this option are referred to as "Retaining Noteholders"). Such election shall take place through a solicitation process. ”
I guess that CTs will get “ substitute Notes “ as well.
Should JPM make some announcement like UK ECAPS to CT shareholders, if the two debtors had contracts before BK, and JPM was holding and won the 8+B cash as collateral?
Ask prices are dropping to 0.1116 for LEHKQ and LEHLQ.
Volume increased to 80,000+ for LEHNQ.
Some one is selling? Or MMs change hands?
Does RICO act apply to this amount of return?
Otherwise robbers just return those robbed items, no punishment, no penalties once they are caught. Then the legal system is encouraging everyone to be a robber.
You made America great. Thanks
His representation was misleading and conflict of interests to escrow holders.
The parties who involved illegally fire sale our assets will have some responsibility for fraudulent transfer our assets. IMHO
So, those who got our assets at cheap price will “transfer” our assets at F&R price. I guess.
Not me, someone in COOP message board #552138
“
I believe DTC has all the records. I recently received a check for around $500 for my Lehman shares that I had after their bankruptcy...even though I sold those shares and never held them to the end of the bankruptcy. “
Has any one here received a check issued from Lehman?
Cause on COOP message board, the new Merged Company from WAMU, someone said he just received a $500 from Lehman for his old Lehman shares. Coop message #552138
LP, will you tell me which Lehman shares were you holding, any statements came with the check stating the reason?
Tia, all old commons and preferred were cancelled, only Capital Preferred stocks are still trading.
But how could WMIH pay 18$ a share to merge a company which is worth only 11 $ now just within few months?
Do we, WMIH shareholders, gain any benefits?
What is the difference between market value and book value for a real estate property?
A commercial property bought 50 years ago, what is the book value and market value now?
This is conflict interests from the beginning. He has been against equity holders all the way since BK filing. Can he protect best interests of equity holders?
Up to date, we, escrow holders, still do not have market values for all WMI real estate properties, mineral rights.
And I don’t think market value is same as book value for those properties owned by WMI for more than 20 years.
What was the real estate values upon Kmart‘s BK and after its reorganization?
Yahoo finance printed 52 week price range 1.31 - 120.00
Wow, have we ever seen $120.00 before?
Someone wants to wash out our memory in Washington Mutual Inc. including “ off balance, Purchase Agreement, Project West, sealed documents in court, list of book values for all Washington Mutual Inc assets, etc “
James Dimon won’t promote weed industry & bitcoin. IMHO
If the price keeps staying at 1.5$ range, there are not enough authorized commons to distribute to the escrow holders.
Must be a huge amount of “OFF BALANCE”
If, another 1B to distribution, 18$ X 1B = 18B
Plus
Reserved preferred shares to be distributed. ~ 7.5B
I am guessing.
If, another 3B commons 18$ X 3B = 54B
just wait and see.
There are 3.5B authorized common shares. After R/S, only around 0.1B shares on the market.
So, more common shares will be distributed to escrow holders. Together distribution with those authorized preferred shares to the preferred escrow holders upon the return of OFF BALANCE assets. IMHO
Why does a BK company under liquidating process need 7 directors?
I know Joe has the answer.
common or preferred P/K shares? All doubled?
Interesting
Yes, his ” Project West “ scheme made him more like a genius.
That was the smart illegal way to take over a bank.
We have ” retained assets “ hiding somewhere, and the owners, escrow holders, do not need to know the amount. I think it must be there in the safety box and locked. On the other hand, the institution which is servicing our loans foreclosed, refinanced, sold our loans without assignment. Without ownership of title, someone could sold, foreclosed, and/or refinanced our loans.
How can I believe wether we are holding a empty box or not?
If escrow really owns 100 plus Billions, why not provide couple B from it’s own in this note offers and to receive 8-9% interests yearly to benefit escrow holders?
Why do we have to get finance from outside institutions, if escrow owns 100 + billions?
Looks like our interests were diluted and benefited to outside institutions more and more.
The difference is that we may gamble a small amount money in Lehman, but for Government bailed out 183B to a BK company. You tell me the reason.
Yes, it’s 2012’s article. I’ve never seen this article before. I didn’t know that Lehman Brother received 183B bailed out money from government.
Does anyone know this 183B bailed out money mentioned somewhere else?
This was copied and pasted from WMIH board provided by “tw0122”
“Results of the First Federal Reserve Audit Have Been Released: Scary
http://wondergressive.com/federal-reserve-audit-scary-stuff/
LEHMAN BROTHER got 183B bailout money as well.
You can tell which banks were too big to fail, Lehman was far away from the first 5 list.
Why did government want to put money into a BK company just like GM?
I have never heard a public trade company can hide BIG MONEY for more than 10 years. The BIG MONEY owners, escrow holders, do not need to find out exactly amount of this BIG MONEY. Or maybe escrow holders are forced to be acted like idiots with no knowledge of this BIG MONEY.
In Stevens v. Comm’r, T.C. Summary Opinion 2008-61 (T.C. 2008), the court stated that “26 U.S.C.S. § 108(a) provides that a taxpayer may exclude income from the discharge of indebtedness if the discharge occurs in a bankruptcy case, or when the taxpayer is insolvent, or if the indebtedness is qualified farm or business real estate debt.” Generally, a taxpayer should include income from the cancellation of debt. However, certain cancelled debts shall not be included in gross income. The exceptions are as follows:
If the cancellation of debt occurs in a bankruptcy case
When the taxpayer becomes insolvent
If the cancelled debt is a qualified farm indebtedness
If the cancelled debt is a qualified real estate business indebtedness
Will this be the service fees for bankers to IPO a company like wmih size? 2%
7 hours ago ... Lehman Brothers caused $US2.4 billion ($3.2bn) in damages to investors holding securities backed by shaky home mortgages, a New York ...
That was what I could see from headline
Do we, CTs, have $2.4b damages? I don’t think it’s ours.
That is great, thanks mates,
Have you also seen other links for rest CTs payment dates?
Can you persuade MM or anyone to drop the asking price just within 1% above the bidding price as all other normal trading stocks? Why does no one lower its asking price for these worthless stocks?
You can do it as well, you can make huge profit, you don’t need to cover it cause its will be zero value as you said.
Especially, I don’t think BK court will allow any one to destroy the value of NOL which is owned by equity 51% and creditors 49%. IMHO
Court has moved all equity shares into OBS to protect the value of NOL without causing ownership change.
If NOL will be ZERO, then no need for those protection, no need tax inquiry for NOL ruling.
In Stevens v. Comm’r, T.C. Summary Opinion 2008-61 (T.C. 2008), the court stated that “26 U.S.C.S. § 108(a) provides that a taxpayer may exclude income from the discharge of indebtedness if the discharge occurs in a bankruptcy case, or when the taxpayer is insolvent, or if the indebtedness is qualified farm or business real estate debt.” Generally, a taxpayer should include income from the cancellation of debt. However, certain cancelled debts shall not be included in gross income. The exceptions are as follows:
If the cancellation of debt occurs in a bankruptcy case
When the taxpayer becomes insolvent
If the cancelled debt is a qualified farm indebtedness
If the cancelled debt is a qualified real estate business indebtedness
“ the reduction of the
LBHI Tax Group’s NOLs as a result of the discharge
of debt pursuant to the Plan generally would not
occur until completion of the liquidation “
Does it mean that discharge of debt won’t reduce amount of NOL.?
If the remaining assets which debtors and remaining creditors decide not to liquidate, and if there is a company may merger with us to benefit mutually these 55B NOL, then a reorganized new company may comes out. TIA any opinions
LEHKQ bid price at 0.023??
So 1.2B total owed principal, 10,330.4 has been forwarded to other class.
10,330.4M was our allowed claims, all forwarded to other classes. Which means nothing left for us? Tia
Why class 10A, ECPAS, could still issue new substituted Preferred shares? Tia