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Indepth, I'm courious what is your Perrish account showing. Any change in call dates?
Ty
Slim
Besides the court news also updated balance sheet should be released in coming weeks.
I went to movies last night. The main character quoted some song that describes a bit our situation:
"I don't mind the pain. It's the hope that kills me"
Cheers!
Slim
I guess he is trying to say and show that if they have been that thoroughly and clearly taken care of "possible" equity interests then all the other classes before equity are also hotsy-totsy.
Well, I think nothing is going to happen today or tomorrow (I hope i'm wrong). Only good news is that starting tomorrow Lehman must start paying interests to all the bonds, CT' etc Lehman papers that are not settled, expired etc. Anybody have clue how many "unresolved" papers like our CTs are at all left?
Cheers,
Slim
Why do you ask? Does your account show something new?
TIA
Guys, don't get me wrong. I want this thing to end as soon as possible like you do. Just saying that we've seen so many unexpected twists and turns during the past 5 years so anything is possible. I'm hoping to see a big payday like most of us here but keeping expectations low.
Happy Easter to everyone!
It seems they are pushing all the court dates out relating to the Stay out to later dates. I think both sides are working out an agreement. It takes two sides to cancel a court date and it seems they both agreed to cancel it which means they are negotiating. Good Sign...go figure
.... or they are pushing the dates out so they could ask on a final hour an additional extension of stay. They will say there's extraordinary circumstances etc ,time is needed etc, etc. Don't rule this option out. It could be good sign, it could be bad sign .... gave up figuring .... just riding along.Cheers!
I would love to see that Q to drop off too but I'm quite sure audited balance sheet is one of the most important and one of many, many requirements that need be fulfilled before.
Getting Q off and recent uplistings are very different animals IMHO.
Next Friday and also today I will have few beers with my friends without thinking about Lehman. Reading lately the board I suggest the same for everyone. No need to torture yourself with high expectation and unrealistic timescale.
Cheers
Slim
Just a friendly reminder to everyone who are digging and studing the balance sheets - those are non-GAAP and are not audited.
Just my 2 cents.
If the Lehman saga ends the way we all expect i'm gonna buy this one:
From fresh BS, page 22
During the period October 1, 2013 through January 24, 2014, the Company sold common shares of EQR and AVB for total proceeds of $1,304 million. As of January 24, 2014, the combined aggregate market value of the Company’s remaining holdings in EQR and AVB were approximately $582 million.
Merry Christmas everyone!
Updated balance sheet should be published any day now. Hope there is some nice Christmas surprise for us.
Cheers!
"Why in hell would they give a GIFT ? That's crazy."
It's not a gift. Marshal and co will get higher bonuses if they are able to recover more money for creditors. It's somewhere in the docket. Can't find it now bot trust me, higher recovery means more zeros on their paycheck. Simple.
Whopping 13,8B of claims out of the window. Impressive.
My LQs are for sale: 26 000, 24.80 USD/piece.
I think there is very simple explanation to King Street's withrawals.
Most of the claims indicate that King Street did their business with LBIE. Everybody involved with LBIE got their 100% plus intrests. Like most of the creditors, customers etc King Steeet simply filed in 2008 claims against LBIE and LBHI and other subs too. Now they withdrawed the claims that were filed "just in case" against LBHI.
We should see more this type of withdrawals.
Just my 2 cents.
600B is claims but the Holy Grale to look at is balance sheet. We should get some update soon.
As of Dec 31, 2012 assets were 116 and liabilities were 353. Consider all those "dues from" and settlements, withrawals, subpoenas and appreciation of assets. Does that 116 seems so small and 353 so far away? I don't think so. For example take a simple well known accounting practice that if you have a claim against bancrupt entity or you have some sort of asset under the bankrupcy litigation how you should reflect it in you books. With 0 value. CAAP or whatever other standard. I'm tying to say that the 116 is extremely conservative and undervalued number. Today European and Australian affilates creditors are getting 100% + interests (again that temporary vs fundametal and fraud). About a year ago this 100% was unthinkable. And you know what todays articles mention here and there about US entities.
It is wonderful summer night in my timezone. Like I said, get ready for 100% or so and dirnk that Coke. It ’s just a matter of time.
Hmm, Catdaddyrt There is big gap between .....
Lehman had to file bankruptcy because of temporary liquidity evoked by competitors and "friends" in Government (read JPM and GS). That is why Lehman bankruptcy is soo appealing. It was caused by TEMPORARY LIQUIDITY problems not fundamental flaws or fraud. Meaning there are lot of assets left for you and me.
It is well know fact that average Joe and Jane around the globe and also in US in financial industry did not know before 2008 crisis that there is even such a position like Secretary of the Treasury (until Hank popped up with weekend long teleinterviews in CNBC, CBS etc during THAT weekend) - before Lehman crisis it was all about Volker, Greenspan and Helicopter. Google it, who was Henry Merritt "Hank" Paulson, Jr and to whom he worked for before he became Treasury Secretary and why the hell he popped out suddenly around that weekend. You really think Ben with hes numerous advisors could not handle the situation?
So, why did Lehman had to file???
And to answer your post #26572
"some(many) of these creditors bought Lehman debt for pennies on the dollar and Judge Peck knows it - do you think for one minute they are going to collect 100% on those claims ????????? "
YES!!! They are going to get the whole friggin 100%!!!!!!! NOT 20%, not 30% but 100%! And then we are going to get our bite! One way or other. Same way we paid pennies we are going to collect some hefty profit. It's that simple! - its all about temporary liquidity vs fundamental flaws. Repo 105 that is the most colourful allegation against management was a common practice in wall street, every singel investment institution did that at the time! The fact that "Gorilla" and co are walking around free is even more colourful. So get ready for 100% or so and drink Coca-Cola.
Camaro4me, here is another proof that we will not see the endgame this year.
Fresh Docket 38118
Motion to Extend Automatic Stay : Motion of Lehman Brothers Holdings Inc., Pursuant to Section 105(a) of the Bankruptcy Code and Bankruptcy Rule 7004(a)(1), to Extend Stay of Avoidance Actions and Grant Certain Related Relief filed by Jacqueline Marcus on behalf of Lehman Brothers Holdings Inc.. with hearing to be held on 7/17/2013 at 10:00 AM at Courtroom 601 (JMP) Objections due by 7/3/2013, (Marcus, Jacqueline)
PAGE 5
9. The Plan Administrator, therefore, requests a further six (6) month
extension of the Stay to January 20, 2014, and an extension of the Service Deadline with respect
to the Distributed Action until January 20, 2014.
Hopefully PPS of our CTs will keep rising in the meantime.
Back up the truck and load it up with Coke. It's gonna take awhile.
Replenish your Coca-Cola stock. It's gonna take awhile to see the endgame.
Docket 37972
new omnibus hearing dates:
September 18, 2013 at 10:00 a.m. (Prevailing Eastern Time)
October 23, 2013 at 10:00 a.m. (Prevailing Eastern Time)
November 20, 2013 at 10:00 a.m. (Prevailing Eastern Time)
December 18, 2013 at 10:00 a.m. (Prevailing Eastern Time)
September 26, 2013 at 10:00 a.m. (Prevailing Eastern Time)
October 24, 2013 at 10:00 a.m. (Prevailing Eastern Time)
November 21, 2013 at 10:00 a.m. (Prevailing Eastern Time)
December 19, 2013 at 10:00 a.m. (Prevailing Eastern Time)
Hopefully those positive news will keep coming in the meantime so the pps raise continues.
Reduction of claims by 145B ... hmmmm ... it's like 120-140B more important news than the sales of Archstone???
Bloomberg, Reuters,..... Helloooo!!!
Would you consider Macau instead of Vegas for Red Carpet event? These days is Macau the place to party and celebrate in high fashion. Vegas is Vegas and nice but .... you know you know what I mean :).
What a cool tune for the red carpet event.
Feelin lucky already!!!
The volume of issued subpoenas and claim withdrawals has dried up in recent days. Maybe temporarily but hopefully this stage of bankruptcy is done and we're ready for new developments.
Some interesting court action today. Hopefully London Whale thing gets movin and brings some twists.
Expect updated balance sheet in coming days. Should be interesting reading again.
LD, after this week settlement do we have any affiliates left to settle with? I think this week settlement was the last one. Only settlements news we should expect from now on are related to litigations like JPM and some others. Correct me if i'm wrong.
Click.... you know the rest.
Subpoenas
For the past couple of months Lehman has issued lot of subpoenas for the production of documents. Docket is literally full of them. Does anybody have some sort of theory/opinion whats going on.
TY
Shopping list:
http://www.bloomberg.com/news/2013-01-02/bofa-could-join-jpmorgan-selling-units-to-boost-value-mayo-says.html
Our NOL looks like the missing dot on the I.
Happy New Year everyone!
Balance Sheet as of September 30, 2012 is out. Docket 33471.
I'm gonna swtich to something stronger than Coca-Cola. Seem's like more waiting is ahead. Click shhh.....
Yup, they paid 100% + back divis. You're late dude. It's all about timing. Sorry mate.
Preparations to merge with another co?
TY Pegaso.
Isn't it odd? Now that they have over half a year the state of the art system Calypso running and LBHI is out of cahp 11 they go and hide.
LAMCO LLC had a website. Fairly simple one with pictures of snow on mountain and the other picture with majestic pillars. Have some trouble finding it. I'd be thankful if anybody has a working link.
Thanks dnoto.
No April MOR. Can't remember when was the last time it took so long to put out in docket. Two years ago? Should be interesting when it's finally out.
Interesting book review of the 1984 events.
http://findarticles.com/p/articles/mi_m1316/is_v18/ai_4153178/
Many events seem to recur!
Mr Brandt has a impressive bio. Seems like he knows what he is talking about. Quite nice when big guns like Mr B point the direction of dry gunpowder.
http://dsi.biz/onestaff.asp?id=32
Docket 25655 is even better. It shlashes 63,8 Billlion dollars of claims. Most of the sum is Lehemans Swiss subsidiary LB AG (52,2 Bil).
Sounding real good indeed.
Waiting sucks!