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27% recovery (210M) is the pro rata distribution
Thanks a million. that is the one
($210,010,179.60)/($780,000,000)X100 = 26.924382% (Recovery for class 3)
although the agreed recovery in the plan for class 9A is only 15.7%, LBHI give them 45% as a compromise!!!!! what kind of compromise is this??????
i guess i know why. They want to disallow the claim under class 3 and get red of them as i think class 3 is entitled to keep receiving distributions "as if they were not satisfied in full" under any plan adjustment.
OMG..Per the POR, class 3 will only get 27% recovery
could it be more clearer? can someone please post again what was the rate of recovery for each class after the last distribution? i remember i saw it
Docket 46343
are you sure you are replying to my post i can not see the relation!
what i am trying to understand if they will make higher recovery from being in a much lower class???
so even with 40B remaining assets in the BS, these guys know that recovery of class 3 will not even reach near 45% ??
mmmmm..they were class 3 and they agreed to take 45% recovery. what does that say?
i also have a question: will they still receive distribution as class 9 in addition to the 350M ?
i think he means classes higher than 7
25th Sep
Anyone wants to get me anything on my 2nd Oct Birthday?
or is it just Uncle Lehman and his Brothers???
Not Just Yet Guys..Not just yet
this is the first interim distribution for unsecured creditors of LBI that we all new about. the Good thing is that LBHI is one of the creditors with unsecured claims of about 6B (if i remember) including the famous claim # 6315 (JPM SUBROGATED CLAIM)of 1.5B
Next distribution for LBHI is scheduled on 2nd Oct
Lets wait and see
Come back with good news only
Reminder for those who want to attend today's hearing
Lehman Brothers Europe short of $8 billion
It has been revealed that PwC, the administrator for the Lehman Brothers European business, has requested the return of $8 billion from the company's US parent. In a rather bizarre way of controlling cross company funding it appears that funds associated with all areas of the empire were returned to the US on a daily basis and placed on deposit by the US head office.
PwC has been trying to arrange the return of the funds to pay for day to day expenses, creditors and wages for the 4,500 strong European arm's staff with no success. They have now taken the unusual step of applying for a court order in New York to ensure that the funds are returned to 'their rightful owner'.
It will be interesting to see how this request is received as PwC has also indicated it may have found a buyer for the European arm of the business. If the $8 billion is not returned in the short term this could cause all kinds of problems and also scupper any potential sale of the business. It is only when problems such as the Lehman Brothers situation occur that we actually see how these companies work and the amount of day to day working capital they need to keep going.
LBHI Borrowing or "stealing" Money from their affiliates ??
Mmmmm. I don’t know if this is good or bad for CTs. The other way they could have done it is to file the motion just to convince the court that these reserves (the 1.7B LBSF is holding out of there 2.4B -i think- reserves for unsecured claims) are duplicates and request that LBSF free the money and use it to satisfy their (LBSF) classes 1-6 creditors!!!!!! Instead, LBHI are willing to give LBSF & LBCC more money (later) just to get hold of this cash now to distribute it UNDER the PLAN. That is the scary part to me….
Are they really doing this just to pay our CTs????? Hope so
Toogood, you still believe it is Christmas???
Now that the agreement is out. that means the hearing will be on the 9th for sure
its not only me...
some of the Gurus in this board are doing the same i guess
maybe they think it is "toogood" to be true
these days i am thinking with my Heart more than i am doing with my Brain!!!!! so my answer is Yes !!!
Where is everybody ????
Out for a Flower Day ??
can not stop laughing
have you ever heard the MORE and LESS facts??
fact 1) you are MORE fun than anyone else in this board
fact 2) with your 6k CTs only, you will be LESS rich than anyone else in this board
mmmmmmmm. and i thought I (The last to arrive to the board)was the first one to notice this
from BNYM claim 22123 page 1 section 1.
thanks a lot
can you please share
you read the first half of the quote!! i should have "Bold" what i meant to say. lets try again
i don't believe the POR gives priority for senior preferred over commons (in case any money left)
or Perhaps LOL NOL
Or perhaps go for a cruise
Worthless !!!! What do you mean Worthless????
Do you know what will happen to PPS if this is just an interim distribution (if any) ( which I blv it is)???
hey 2gfella
stop bothering wayne and provide ur DD on the new news
436 you mean
Lehman Brothers Holdings Inc. to Explore Opportunities to Monetize Portions of General Unsecured Claims against Lehman Brothers Inc.
Lehman Brothers Holdings Inc. to Explore Opportunities to Monetize Portions of General Unsecured Claims against Lehman Brothers Inc.
where is Gus Bus these days???????????
and when people short shares that means the hope PPS will go down no???!!!
Or maybe we still go with OBS to be paid in full?? After one or 2 distributions?
if this have nothing to do with POR, why CTs will get only 0.17??
Now thats my "Reporter 1"