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All LBT claims still
LBHI and LBT have an agreement that when LBHI transfers stock to LBT, LBHI and LBT will have no direct/indirect equity interest in one another.
Meaning any and all LBT debt you see will have 0 impact on the shares LBHI issues to its holders.
Lehman doesn’t know who the holders are. The claim is held by BNYM, you just hold the shares
Lot of banks collapse
Maybe they’re trying to get some shares or bonds on the LOW
LOL
just a reminder that lehman has to liquidate or distribute its unissued stock for the benefit of the creditors
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Feb 15, 2023 deadline after which replacement capital can start
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Is this closing out or are we taking it up the rear end.
I’m hoping Lehman doesn’t appeal. From the ruling:
LBIE came nowhere close to proving a uniform market practice to value utilizing only market prices.
https://dm.epiq11.com/case/lehman/info
Updated home page that includes the ruling of the LBIE case
Hopefully this is more proof to some here who don’t believe this litigation has nothing to do with the closing of the bankruptcy when it’s clearly important
10k shares traded today
Theirs still an LBF lawsuit for $60 million, theirs hardly any info on that one
From the looks of it, Lehman would be wasting there time if they appeal this
WOAHHHH this is the news I’ve been waiting for! IF Lehman appeals we will be done in 2025! If not then this will end soon.
Also, this means ecap holders 1-3 will receive no cash back if my memory serves me right.
Good find!!!
Try on cellphone
It works well on my iPhone
Capital trust for each series of CT’s has never been dissolved correct?
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I am just waiting for things to play out when LBHI emerges as a Going Concern. IF CTs holders are left high & dry after LBHI's emergence
Argus if you see this test it out and forward the info to jersey
I just think it would be new shares
I think they’re only way is CVR.
Because all commons and preferreds were canceled, all that’s in the accounts of those who hold OBS are escrow markers.
I’m thinking commons will go to 3-9
10-11 will get preferreds
And 12 will end up getting cancelled. I think the best they have is CVR. The way we would get the shares is I think they will distribute a portion of the unissued preferreds to the capital trust to pay the $1.2bil tab.
This is just what I’m thinking is going to happen.
still risk associated, for example we could get the shares then the company could then be cancelled without giving anyone a chance to sell. This way the debt is technically paid.
But for the most part I just think that’s the end game.
LBHI told LBT in black and white this will not end until all litigations are resolved. The reason for the last lawsuit taking is so long is because the appeal is expected to take 3 years (from 2022) to resolve
It sucks but oh well
The debt is reclassified as equity interest
When all lawsuits are finished, it’s like 1 left
We’re planning it for the weekend and you’ll have your son so you probably won’t be able to make it
:)
Peace out mellowbird
Take it easy man
Don’t forget about LBI’s $7.1 trillion claim.
https://document.epiq11.com/document/getdocumentbycode?docId=4116292&projectCode=LBI&source=DM
The Trust holds several pending Antitrust Claims. During the Report Period, the administrator of the settlement fund related to the Foreign Exchange Benchmark Rates Antitrust Litigation allowed the Trust’s claim (the “FX Claim”) with an eligible participation amount of $7.1 trillion. Subsequent to the Report Period, the administrator obtained court approval to make a distribution on the FX Claim, among others. On October 31, 2022, the Trust received $21,546,046 as an initial distribution on the FX Claim.
Classes 1-2 have been paid in full, all that’s left is 3-9. And whatever claims that LBT issued will not receive any equity in LBHT but a new entity created by LBT. This means whatever classes are left will most likely receive common shares. And classes 10a-11 will receive the preferreds.
By law LBHI owes ECAPS holders substitute preferreds. ECAPS4-5 are in class 10A. These shares cannot be allocated to higher creditors since it is in their prospectus that they would receive non-cum-preferred stock. ECAPS have parity with CT’s. CT’s rank higher than ECAPS.
Preserved NOLS,
All shares cancelled and one big share issued to the plan trust,
Unissued authorized preferred shares of over 17 million that Lehman brothers expressed interest in distributing to creditors in exchange for their claims,
These are all signs of a reorganization/restructuring of some sort. whether it’s a merger, spin off etc, these are all positive signs.
Lehman would have equity capital, no debt, but no cash. By raising cash through debt; the company will then just have cash, equity capital, and debt.
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Guess who will get the newco,
Any liability for the Subordinated Guarantee Claims should therefore be reclassified as equity.
Accordingly, LBHI has no liability under the Subordinated Guarantee and the Subordinated Guarantee Claims should be disallowed and expunged in their entirety.
The Subordinated Guarantees provide that any claims arising from, in connection with, or in any way relating to, any failure of LBHI to pay under the Subordinated Guarantee shall have the same priority as, and no greater priority than, preferred stock interests in LBHI.
How did someone buy that many for so low????
What you mean
Toogood the dockets is saying the cash payment guarantee for the CT’s were expunged and was replaced with preferred equity interest.
LBHI isn’t going to spend any money on CT’s. The interest we for the CT’s if they were to get paid would be in the form of new shares. I don’t think we will ever receive cash from Lehman for CT’s. However I do believe we will receive shares. The shares we have in our accounts I believe will be taken so they can be combined with the debentures and be contributed as capital, therefore new shares will be given out.
I know this
Toogood comprehend what exactly? I’m not understanding your post and what you’re trying to say
all of the series’s have this wording in their respective dockets
I see a lot posting the Stephen Restelli document. Im guessing it is new old news to those here?
I was 20 when I joined here
Looks like it’ll end when I’m 30
I’m victim of the Lehman clock as well LOL
I'm 100% positive of a new co
debt for equity swap
actual factuals
stocka you seem to be enjoying the recent news that was posted here. what about it do you enjoy?
It’s legal to manage people’s trading accounts I believe
And you can buy them on their account then just transfer them to yours
you’d just have to see if the Canadian brokerage you deal with his able to transfer shares to your American brokerage
Apparently only Canada brokerages sell them.
Maybe find someone on Craigslist in Canada who’s looking for work and pay them to open an account in their name that you will manage
You’d be able to find someone quick
Times are tough and money talks!