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MOTION OF ELLIOTT MANAGEMENT CORP. FOR THE ENTRY OF AN
ORDER APPROVING SPECIFIED INFORMATION BLOCKING
PROCEDURES AND PERMITTING TRADING OF CLAIMS AGAINST THE
DEBTORS UPON ESTABLISHMENT OF A SCREENING WALL
Looks like Elliot wants to get a little more active...read the last paragraph about "Covered Claims".
RELIEF REQUESTED
5. Elliott requests the entry of an order indicating that Elliott, which is
engaged in the trading of securities and/or claims for others or for its own account as a
regular part of its business, will not violate its fiduciary duties as a member of the
Committee by trading in the Covered Claims during the pendency of the Debtors’
Chapter 11 cases, provided that Elliott establishes, effectively implements, and adheres to
the information blocking policies and procedures (collectively, the “Screening Wall”)
that are approved by the Office of the United States Trustee herein or that are otherwise
consistent with those described in the Screening Wall Declarations (as defined below),
annexed hereto as Exhibit “A”.
6. The term “Screening Wall” refers to a procedure established by an
institution to isolate its trading activities from its activities as a member of an official
committee of unsecured creditors in a chapter 11 case. A Screening Wall includes,
among other things, such features as the employment of different personnel to perform
certain functions, physical separation of the office and file space, procedures for locking
committee related files, separate telephone and facsimile lines for certain functions, and
special procedures for the delivery and posting of telephones messages. Such procedures
will prevent Elliott’s trading personnel from use or misuse of non-public information
obtained by Elliott’s personnel engaged in Committee related activities (“Committee
Personnel”) and also will preclude Committee Personnel from receiving inappropriate
information regarding Elliott’s trading in the Covered Claims in advance of such trades.
7. Although members of the Committee owe fiduciary duties to the creditors
of these estates, Elliott also has fiduciary duties to maximize returns to its clients through
trading securities. Thus, if Elliott is barred from trading the Covered Claims during the
pendency of these bankruptcy cases because of its duties to other creditors, it may risk the
loss of a beneficial investment opportunity for itself and/or its clients and, moreover, may
breach its fiduciary duty to its clients. Alternatively, if Elliott is compelled to resign from
the Committee because of its inability to trade for the benefit of itself and its clients, its
interests may be compromised by virtue of taking a less active role in the reorganization
process. Elliott should not be forced to choose between serving on the Committee and
risking the loss of beneficial investment opportunities or foregoing service on the
Committee and possibly compromising its responsibilities by taking a less active role in
the reorganization process, particularly because its service as a Committee member
benefits all unsecured creditors.
8. As evidence of its implementation of the procedures detailed herein, filed
herewith are declarations (the “Screening Wall Declarations”) by Elliott’s Committee
Personnel, which state that such individuals shall comply with the terms and procedures
consistent with those set forth in this Motion or otherwise approved by the United States
Trustee.
1 “Covered Claims” is used in this Motion to mean any claims against the Debtors, including (i)
“Securities” as defined in Section 2(a)(1) of the Securities Act of 1993 (including the following: stocks,
notes, bonds, debentures, participation in, or derivatives based upon or relating to, any of the Debtors’ debt
obligations or equity interests) and (ii) bank debt.
Coach T
MARCH EVENTS!
Heads up! The Debtors exclusivity period ends on March 15th! I was thinking it was the end of March. This is the end of the time that the court allows Debtors to come up with their own plan of Reorganization.
March 11 - Anton Valukas goes before Judge Peck to plead his case to unseal the Examiner's report!
Monster Ominbus Hearing on the 17th including...
Omnibus Hearing Location: Courtroom 601, United States Bankruptcy Court, Alexander Custom House, One Bowling Green, New York, New York 10004
(a) Debtors’ Application Pursuant to Section 327(a) of the Bankruptcy Code for an Order Authorizing the Retention and Employment of Deloitte Tax LLP as Tax Services Providers Nunc Pro Tunc to November 1, 2008 (Case No. 08-13555, Docket No. 7135) [Objections are due by March 12, 2010 at 4:00 p.m.]
(b) Debtors’ First Omnibus Objection to Claims (Duplicate Claims) (Case No. 08-13555, Docket No. 6873) [Objections are due by March 1, 2010 at 4:00 p.m.]
(c) Debtors’ Second Omnibus Objection to Claims (Amended and Superseded Claims) (Case No. 08-13555, Docket No. 6874) [Objections are due by March 1, 2010 at 4:00 p.m.]
(d) Debtors’ Third Omnibus Objection to Claims (Duplicate Claims) (Case No. 08-13555, Docket No. 6875) [Objections are due by March 1, 2010 at 4:00 p.m.]
(e) Debtors’ Fourth Omnibus Objection to Claims (Amended and Superseded Claims) (Case No. 08-13555, Docket No. 6876) [Objections are due by March 1, 2010 at 4:00 p.m.]
(f) Debtors’ Objection to Proof of Claim filed by Latshaw Drilling Company, LLC (Claim No. 18346) (Case No. 08-13555, Docket No. 6729) [Objections are due by February 24, 2010 at 4:00 p.m.]
(g) Debtor’s Objection to Proof of Claim filed by David Schwartzman [Claim No. 22675] (Case No. 08-13555, Docket No. 5951) (Adjourned) [Objections were due by February 3, 2010 at 4:00 p.m.]
(h) Motion of Lehman Brothers Holdings Inc. to Amend the Order Authorizing Debtors to Establish Procedures to Sell or Abandon De Minimis Assets (Case No. 08-13555, Docket No. 6710) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(i) Debtors’ Motion Pursuant to Sections 105(a) and 362 of the Bankruptcy Code for Approval of Certain Restrictions and Procedures Applicable to Transfers of the Debtors Securities (Case No. 08-13555, Docket No. 6699) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(j) Debtors’ Motion Pursuant to Sections 105(a) and 362 of the Bankruptcy Code for an Order Enforcing the Automatic Stay Against and Compelling Payment of Post-Petition Funds by Swedbank AB (Case No. 08-13555, Docket No. 6734) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(k) Debtors’ Motion Pursuant to Sections 105(a) and 362 of the Bankruptcy Code for an Order Enforcing the Automatic Stay Against and Compelling Payment of Post-Petition Funds by Skandinaviska Enskilda Banken AB (Case No. 08-13555, Docket No. 6737) (Adjourned) [Objections are due by February 26, 2010]
(l) Debtors’ Motion Pursuant to Sections 105(a) and 362 of the Bankruptcy Code for an Order Enforcing the Automatic Stay Against and Compelling Payment of Post-Petition Funds by First National Bank (Case No. 08-13555, Docket No. 6740) (Adjourned) [Objections were due by February 17, 2010]
(m) Debtors’ Motion Pursuant to Section 105(a) of the Bankruptcy Code and Bankruptcy Rules 3007 and 9019(b) for Approval of (i) Claim Objection Procedures and (ii) Settlement Procedures (Adjourned re: Unresolved objections and Settlement Procedures) (Case No. 08-13555, Docket No. 6374) [Objections were due by January 11, 2010 at 4:00 p.m.]
(n) Motion of Debtors and Debtors in Possession Pursuant to Section 105(a), 362, and 365 of the Bankruptcy Code to Compel Performance by Norton Gold Fields Limited of its Obligations Under an Executory Contract and to Enforce the Automatic Stay (Case No. 08-13555, Docket No. 5897) (Adjourned) [Objections were due by December 4, 2009 at 4:00 p.m.]
(o) Motion of Debtor and Debtor in Possession Pursuant to Sections 105(a), 362 and 365 of the Bankruptcy Code, to Compel Performance by AIG CDS, Inc. of Its Obligations Under an Executory Contract and to Enforce the Automatic Stay (Case No. 08-13555, Docket No. 4728) (Adjourned) [Objections were due by October 1, 2009 at 4:00 p.m.]
(p) Debtors’ Motion to Amend Order Authorizing Debtors to Employ Professionals Utilized in the Ordinary Course of Business (Case No. 08-13555, Docket No. 7185) [Objections are due by March 5, 2010 at 4:00 p.m.]
(q) Interim Applications for Allowance of Compensation for Professional Services Rendered and for Reimbursement of Actual and Necessary Expenses for June 1, 2009 through September 31, 2009 (Case No. 08-13555, Multiple Docket Nos.) (Adjourned) [Objections were due by January 6, 2010 at 4:00 p.m.]
(r) Motion of Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc. for Leave to Conduct Discovery of JPMorgan Chase Bank, N.A. Pursuant to 11 U.S.C. §§105(a) And 1103(c) and Federal Rule of Bankruptcy Procedure 2004 (Case No. 08-13555, Docket No. 566) (Adjourned) [Objections were due by March 6, 2009 at 4:00 p.m.]
(s) Motion of Official Committee of Unsecured Creditors for Reconsideration of Court’s September 17, 2008 Interim Order (I) Authorizing Debtor to Obtain Postpetition Financing Pursuant to Sections 363 and 364 of Bankruptcy Code and (II) Granting Liens and Superpriority Claims to Postpetition Lenders Pursuant to Section 364 of Bankruptcy Code (Case No. 08-13555, Docket No. 434) (Adjourned) [Objections are due by March 10, 2010 at 5:00 p.m.]
(t) Motion by Factiva, Inc., Factiva Limited and Dow Jones & Company, Inc. for an Order (A) Compelling Immediate Payment of Post-Petition Administrative Expense Claims and (B) Compelling the Debtors to Assume or Reject Executory Contracts or Alternatively Modifying the Automatic Stay to Permit Movants to Terminate the Executory Contracts (Case No. 08-13555, Docket No. 7102) [Objections are due by March 12, 2010 at 4:00 p.m.]
(u) Motion of U.S. Bank National Association, As Trustee, Pursuant to Section 105(a) of the Bankruptcy Code Authorizing (I) the Withdrawal of Neuberger Berman Fixed Income LLC as the Investment Manager of Lehman Brothers ABS Enhanced Libor, Ltd.; (II) the Withdrawal of the Directors of Lehman Brothers ABS Enhanced Libor, Ltd. and the Replacement of such Directors with Directors Designated by TCW Asset Management Company; (III) the Transfer of the Rights to manage Lehman Brothers ABS Enhanced Libor, Ltd.'s Portfolio to TCW Asset Management Company; and (IV) the Exchange of Units in Lehman Brothers ABS Enhanced Libor Fund for Shares in Lehman Brothers ABS Enhanced Libor, Ltd. (Case No. 08-13555, Docket No. 6811) [Objections are due by March 1, 2010 at 4:00 p.m.]
(v) Motion of Dynegy Power Marketing Inc. for Entry of an Order that its Timely Filed Guarantee Questionnaire be Deemed a Timely Filed Proof of Claim, or, in the Alternative, to Permit a Late Claim Filing Pursuant to Federal Rule of Bankruptcy Procedure 9006(b)(1) (Case No. 08-13555, Docket No. 7008) [Objections are due by March 10, 2010 at 12:00 p.m.]
(w) Motion of Dynegy Power Marketing Inc. for an Order Authorizing the Filing Under Seal of a Certain Exhibit to its Motion for Entry of an Order that Its Timely Filed Guarantee Questionnaire Be Deemed a Timely Filed Proof of Claim, or, in the Alternative, to Permit a Late Claim Filing Pursuant to Federal Rule of Bankruptcy Procedure 9006(b)(1) (Case No. 08-13555, Docket No. 7004) [Objections are due by March 10, 2010 at 12:00 p.m.]
(x) Motion of Tensor Opportunity Limited to Permit it to File a Late Proof of Claim Pursuant to Federal Rule of Bankruptcy Procedure 9006(b)(1) (Case No. 08-13555, Docket No. 7032); Amended Motion Filed on February 18, 2010 (Docket No. 7161, 7162) [Objections are due by March 10, 2010 at 5:00 p.m.]
(y) Motion to Authorize Santa Fe Entities to Treat Their Claims as Timely Filed (Case No. 08-13555, Docket No. 7144) [Objections are due by March 10, 2010 at 4:00 p.m.]
(z) Palmyra Capital Fund, L.P., Palmyra Capital Institutional Fund, L.P., Palmyra Capital Offshore Fund, L.P.’s Motion to Amend Proof of Claims (Case No. 08-13555, Docket No. 6747) [Objections were due by February 5, 2010]
(aa) Motion of Pennsylvania Public School Employees’ Retirement System for Entry of an Order that its Timely Filed Guarantee Questionnaire be Considered a Timely Filed Proof of Claim, Or, in the Alternative, to Permit a Late Claim Filing (Case No. 08-13555, Docket No. 6558) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(bb) Motion of Pacific Life Insurance Company to File Proof of Claim After Bar Date (Case No. 08-13555, Docket No. 5599) (Adjourned) [Objections were due by November 13, 2009 at 4:00 p.m.]
(cc) Joint Motion of Sea Port Group Securities, LLC and Berner Kantonalbank to Deem Proofs of Claim to be Timely Filed by the Securities Programs Bar Date (Case No. 08-13555, Docket No. 6150) (Adjourned) [Objections were due by January 8, 2010 at 12:00 p.m.]
(dd) Motion of Mark Glasser for Leave to File Late Proof of Claim (Case No. 08-13555, Docket No. 6385) (Adjourned) [Objections were due by February 5, 2010 at 5:00 p.m.]
(ee) Motion by Merrill Lynch International and Certain of its Affiliates for Entry of an Order (A) Confirming Ability to Deliver Notice of Acceleration with Respect to Certain Notes Issued by Foreign Affiliate without Relief from the Automatic Stay or (B) Granting Limited Relief from the Automatic Stay to Deliver such Notice (Case No. 08-13555, Docket No. 5958) (Adjourned) [Objections were due by December 13, 2009 at 4:00 p.m.]
(ff) Motion of U.S. Bank National Association as Trustee for Relief from Stay as to the property located at 1347 E 80th Street, Brooklyn, NY 11236 (Case No. 08-13555, Docket No. 5497) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(gg) U.S. Bank, National Association, Trustee for Lehman Brothers Securitization Name Structured Asset Investment Loan Trust’s Motion for Relief from Stay as to the Property Located at 187-01 Ridgedale Street, Springfield Garden, NY 11413 (Case No. 08-13555, Docket No. 6315) (Adjourned) [Objections were due by February 5, 2010]
(hh) U.S. Bank, National Association, Trustee Lehman Brothers Securitization Name-Structured Asset Investment Loan Trust’s Motion for Relief from Stay as to the Property Located at 150-18 115th Dr., Jamaica, NY 11434 (Case No. 08-13555, Docket No. 6314) (Adjourned) [Objections were due by February 5, 2010]
(ii) Property Asset Management Inc.’s Motion for Relief from Stay as to the Property Located at 116-69 233rd Street, Cambria Heights, NY 11411 (Case No. 08-13555, Docket No. 6335) (Adjourned) [Objections were due by February 5, 2010]
(jj) U.S. Bank, National Association, Trustee for Lehman Brothers Structured Asset Investment Loan Trust SAIL 2005-7’s Motion for Relief from Stay as to the Property Located at 107-48 122nd Street, Richmond Hill, NY 11419 (Case No. 08-13555, Docket No. 6345) (Adjourned) [Objections were due by February 5, 2010]
(kk) U.S. Bank, National Association, Trustee for BNC Mortgage Loan Trust 2007-1’s Motion for Relief from Stay as to the Property Located at 4 Carnaby Ave, Coram, NY 11727 (Case No. 08-13555, Docket No. 6346) (Adjourned) [Objections were due by February 5, 2010]
(ll) U.S. Bank, National Association, Trustee Lehman Brothers Securitization Name-Structured Asset Investment Loan Trust’s Motion for Relief from Stay as to the Property Located at 111 Alter Avenue, Staten Island, NY 10304 (Case No. 08-13555, Docket No. 6347) (Adjourned) [Objections were due by February 5, 2010]
(mm) Property Asset Management Inc.’s Motion for Relief from Stay as to the property located at 1219 E 59th Street, Brooklyn, NY 11234 (Case No. 08-13555, Docket No. 6350) (Adjourned) [Objections were due by February 5, 2010]
(nn) U.S. Bank, National Association, Trustee Lehman Brothers Securitization Name-Structured Asset Investment Loan Trust’s Motion for Relief from Stay as to the Property Located 94-12 Forbell Street, Ozone Park, NY 11416 (Case No. 08-13555, Docket No. 6402) (Adjourned) [Objections were due by February 5, 2010]
(oo) Motion of Tuxedo Reserve Owner LLC and Tuxedo TPA Owner LLC for an Order Pursuant to Bankruptcy Code Sections 105, 363, and 1107 Authorizing and Compelling Actions by Debtors as Agent and Lender Under Loan Facility and Granting Related Relief (Case No. 08-13555, Docket No. 1435) (Adjourned) [Objections are due by March 10, 2010]
(pp) Motion of 1407 Broadway Real Estate LLC and PGRS 1407 BWAY LLC for an Order (I) Compelling Certain of The Debtors to Comply With Their Lending Obligations; And/Or Alternatively (II) Granting The Movants Relief From The Automatic Stay; And (III) Authorizing The Movants to Conduct Examinations of The Debtors And Request The Production of Documents Pursuant to F.R.B.P. 2004 (Case No. 08-13555, Docket No. 5716) (Adjourned) [Objections were due by February 3, 2010]
(qq) Motion of WWK Hawaii-Waikapuna, LLC, WWK Hawaii-Moaula, LLC, WWK Hawaii-Honu’apo, LLC, WWK Hawaii-Little Honu’apo, LLC, WWK Hawaii-House Parcel 2, LLC, and WWK Hawaii-Naalehu Parcel 1, LLC for Order (I) Setting Prompt Date for Assumption or Rejection of Project Loan; (II) Upon Rejection, Granting Relief from the Automatic Stay; and (III) Granting Related Relief (Case No. 08-13555, Docket No. 3182) (Adjourned) [Objections were due by April 17, 2009 at 4:00 p.m.]
(rr) Third Interim Application of Norton Rose LLP for Allowance of Interim Compensation for Services Rendered and Reimbursement of Actual and Necessary Expenses Incurred from June 1, 2009 through September 23 2009 (Adv. Proc. No. 08-01420, Docket No. 2558) [Objections are due by March 10, 2010 at 4:00 p.m.]
(ss) First Application of Steinmetz, Haring, Gurman & Co. for Allowance of Interim Compensation for Services Rendered and Reimbursement of Actual and Necessary Expenses Incurred from August 13, 2009 through December 31, 2009 (Adv. Proc. No. 08-01420, Docket No. 2654) [Objections are due by March 10, 2010 at 4:00 p.m.]
(tt) First Application of Menaker & Herrmann LLP for Allowance of Interim Compensation for Services Rendered and Reimbursement of Actual and Necessary Expenses Incurred from August 3, 2009 Through December 31, 2009 (Adv. Pro. No. 08-01420, Docket No. 2664) [Objections are due by March 10, 2010 at 4:00 p.m.]
(uu) Trustee’s Motion Pursuant to Sections 105(a) and 363(b) of the Bankruptcy Code for an Order Approving a Transition Services Agreement with Barclays Capital Inc. (Adv. Proc. No. 08-01420, Docket No. 2555) (Adjourned) [Objections were due by February 3, 2010 at 4:00 p.m.]
(vv) Trustee’s Motion for an Order Establishing Procedures Governing Claims Asserted and Adversary Proceedings Commenced by Trustee Pursuant to 11 U.S.C. 544, 547, 548 and 550 (Adv. Proc. No. 08-01420, Docket No. 2554) (Adjourned) [Objections were due by February 5, 2010 at 12:00 p.m.]
(ww) Motion of James W. Giddens, as Trustee for Lehman Brothers Inc., Pursuant to Sections 105(a) and 362 of the Bankruptcy Code and Section 78eee(b)(2)(B) of SIPA, for an Order Enforcing the Automatic Stay and the Stays in the LBI Liquidation Order and Holding Israel Discount Bank Limited and Bank Leumi Le-Israel B.M. in Contempt for Violating the Automatic Stay, Interfering with the Trustee’s Administration and Property of the Debtor’s Estate, and Commencing Foreign Legal Proceedings Against the Debtor (Adv. Proc. No. 08-01420, Docket No. 2288) (Adjourned) [Objections were due by December 17, 2009 at 4:00 p.m.]
(xx) Motion of Newport Global Opportunities Fund LP, Newport Global Credit Fund (Master) L.P., PEP Credit Investor L.P. and Providence TMT Special Situations Fund L.P. for Leave to Conduct Rule 2004 Discovery of Lehman Brothers, Inc. and SIPA Trustee (Case No. 08-13555, Docket No. 435; Adv. Proc. No. 08-01420, Docket No. 123) (Adjourned) [Objections are due by March 12, 2010 at 4:00 p.m.]
(yy) Motion of Markit Group Limited for Relief From Automatic Stay to Terminate Data Services Agreement and Associated Addenda (Adv. Proc. No. 08-01420, Docket No. 356) (Adjourned) [Objections were due by May 29, 2009 at 11:59 p.m.]
This is just the 10:00 hearing there is still a 2:00 hearing!
Coach T
If it is anything like when the Barclays info was filed under seal...I think you will see the US Trustee, SIPA, and the Creditors Committee, among others, calling for the unveiling!
Once that happens Judge Peck will unseal it like he did with Barclays, IMO.
Linda...It is really very easy using the claims sorting tools on the LBHI website (Less than or Equal to).
I find it interesting...for some reason it seems to bring the 66,476 claims filed more meaning to me. they do not look as ominous to me brooken down. Hope it helps others also.
Linda...that is a nice lead in to what I was just working on...
Breakdown of Claims
Number Claims..........$ Dollar Value
8,635..................$ 0
8,751..................$ 0-10K
25,590.................$ 10K-100K
10,426.................$ 100K-500K
2,880..................$ 500K-1M
2,397..................$ 1M-2M
2,683..................$ 2M-5M
1,575..................$ 5M-10M
2,392..................$ 10M-50M
698....................$ 50M-100M
286....................$ 100M-500M
68.....................$ 500M-1B
71.....................$ 1B-5B
24.....................$ 5B+
As of 3/03/2010
This couple of day consolidation is just right. Low volume pullbacks. MM open the bid/ask pricing and then move the bid up thru the day. It does not get more bullish than that, IMO...
Looks like the Lehman family maybe ready for the next leg up by tomorrow, if not Friday.
Absolutely...There is just less leverage to the Trusts.
However, there are bonds being held by the Trustee that were purchased from Lehman when the Trust's shares were sold. Those claims are on record and are valid IMO...and I cannot imagine a scenario that the Trusts do not share in some fashion at the table of reorg.
Coach T
You can say that as much as you want, Paid.
Agree 100%...if not a gap open that no one can control...
Classic flag/pennant pattern on the daily Common charts with volume declining into the end of the pattern. Textbook.
This reminds me of the low volume trading when the JPM settlement was posted on the dockets and none of the news picked it up for about 1/2 day. Then boom.
No one has reported that the reorg plan is coming on the 15th. YET...
I could not agree more...
When I look at the weekly chart of LEHKQ, LEHLQ, etc., all I see is $3.50. Just don't see any way around it. The trustee holds the bonds for each trust. The bonds don't trade anywhere and the claim is already in for the Trust's shareholders.
Classic...
A smattering of the bonds...
Bonds
Ratings Last Sale
Symbol CUSIP Type Issuer Name Coupon Maturity Moody's S&P Fitch Last $ Change Yield Last Sale Date & Time Remove
LEHM.JAD 52517P5X5 Corporate LEHMAN BROS HLDGS INC 6.20 09/26/2014 NR NR CCC 23.250 2.250 - 03/02/2010 14:38:00
LEHM.JDJ 5252M0BZ9 Corporate LEHMAN BROS HLDGS INC 5.63 01/24/2013 NR A+ CCC 24.500 0.812 - 03/02/2010 17:54:40
LEHM.JGY 5252M0FD4 Corporate LEHMAN BROS HLDGS INC 6.88 05/02/2018 NR NR CCC 23.000 -0.813 - 03/03/2010 11:20:17
LEHM.MW 52517PSC6 Corporate LEHMAN BROS HLDGS INC 6.63 01/18/2012 NR NR CCC 23.625 0.447 - 03/03/2010 11:06:52
LEHM.OX 52519FAC5 Corporate LEHMAN BROS HLDGS INC 5.60 01/22/2018 NR NR CCC 20.000 1.500 - 02/24/2010 14:05:50
LEHM.PE 52519FAL5 Corporate LEHMAN BROS HLDGS INC 5.55 02/11/2018 NR A+ A+ 18.770 1.440 - 02/25/2010 14:48:36
LEHM.PL 52519FAN1 Corporate LEHMAN BROS HLDGS INC 5.35 02/25/2018 NR NR CCC 19.300 0.550 - 03/02/2010 14:50:54
LEHM.TF 52517PVM0 Corporate LEHMAN BROS HLDGS INC 4.38 11/30/2010 NR NR CCC 23.500 2.000 - 03/02/2010 08:25:02
LEHM.TX 52517PVV0 Corporate LEHMAN BROS HLDGS INC 4.80 03/13/2014 NR NR CCC 23.000 1.600 - 03/02/2010 16:03:00
LEHM.XS 52517PYN5 Corporate LEHMAN BROS HLDGS INC 4.25 01/27/2010 NR NR CCC 22.062 1.937 - 03/02/2010 12:48:32
Coach T
The same reasoning that says you don't know how much something is worth, means nothing can be excluded IMO...from a Lehman priority standpoint.
HYPOTHETICAL EXAMPLE...how could you go in front of Judge Peck saying we are only taking the Sr. Secured holders and no other Jr. stakeholders when you don't have a clue how much there is to be divided.
I was simply reasoning thru the process that admittedly per Mr. Marsal there many factors that could lead to recovery of values. The Examiner's report, legal outcomes, creditors negotiations.
My thinking is that with all of the uncertainty surrounding the values STILL...how can Mr. say that even the commons are not coming along for the ride!
I have never even looked to the commons. I believe we are finally seeing premium deserved for the Preferreds and Trusts. Can't see how the Trusts are not going to be $3.50+ soon.
BONDS ARE TRADING AT NEW POST FILING HIGHS BUT STILL ALONG WAY AWAY.
Coach is old school...don't know sticky's yet...
What am I missing here Dnoto??? Am I reading this right?
I have read and re-read this motion...
I certainly could be reading it wrong. How can any class be excluded when A&M still has not seen the Examiner's Report!
They still do not know what the value of assets/liabilities they have under the hood!
Shakin' my head! If they were not going to file a disclosure statement until 4/15/2010 why not request a delay of the reorg plan. I think that means all classes are coming thru to the other side...
Thoughts anyone?? Looking forward to your comments.
A&M is going to file a reorg plan on March 15th as planned, but no disclosure statement.
Preliminary Statement
1. The Debtors’ chapter 11 cases are of an unprecedented size and
complexity, which has required that the Debtors devote substantial efforts and resources over the
past 18 months to administer diverse assets of the Lehman Enterprise which literally extend
throughout the globe and involve over 80 different insolvency-related proceedings in
approximately 16 jurisdictions.
In the effort to maximize recoveries, the Debtors under the
leadership of the Chief Executive Officer of LBHI, Bryan P. Marsal, and with the extended
assistance of the Debtors’ financial advisors, Alvarez & Marsal, have implemented global
strategies to: coordinate with foreign fiduciaries to maximize the value of assets, particularly in
connection with the resolution of derivative transactions; preserve the value of tens of billions of
dollars of real estate investments; as well as defend the Lehman Enterprise in numerous
adversary proceedings and contested matters; and, protect the worldwide interests of the Debtors.
In addition, the Debtors have been extensively engaged in the process of formulating a joint
chapter 11 plan (the “Plan”). This has not been a simple task. The complexities and different
claimant interests as they relate to the Debtors and the Lehman Enterprise are staggering. As a
result of concentrated and dedicated efforts, the Debtors will file their Plan with the Court prior
to the expiration of their exclusivity period under section 1121(d) of the Bankruptcy Code on or
before March 15, 2010.
2. The Plan is consistent with the requirements of section 1129 of the
Bankruptcy Code. Its formulation has consumed substantial time and effort on the part of the
Debtors and their professionals. The interconnectedness of the Debtors and the Lehman
Enterprise, as well as the need to analyze and accumulate relevant information, as well as meet
and confer with the Statutory Unsecured Creditors’ Committee (the “Committee”) and, to the
extent feasible, other parties in interest, were extremely demanding. Manifestly, when Congress
enacted the 2005 Amendments to the Bankruptcy Code as part of the Bankruptcy Abuse
Prevention and Consumer Protection Act (“BAPCPA”) and established an 18 month limitation
on a debtor’s exclusive right to file a plan, it did not contemplate cases of the size, complexity
and scope of the Debtors’. As a consequence, the Debtors have not had a full opportunity to
consummate negotiations with key creditor constituencies as to the provisions of the Plan. In
that context, the Debtors have not had ample time to complete a comprehensive and adequately
informative disclosure statement, as required pursuant to section 1125 of the Bankruptcy Code
(“Disclosure Statement”). There are major creditor constituencies whom the Debtors desire to
meet and confer with in pursuit of the objective of a consensual plan. Given a reasonable
opportunity to pursue consensus may result in the formulation of a more comprehensive and
informative Disclosure Statement that would facilitate the expeditious confirmation of the
Debtors’ Plan.
3. There are several occurrences that will facilitate and expedite the
formulation of a comprehensive and adequately informative Disclosure Statement. The Debtors
currently are awaiting the opportunity to review and analyze the recently filed report of Anton R.
Valukas, the Court appointed Examiner (“Report”). The Report has been filed with the Court
under seal and is not accessible by the Debtors or other parties in interest. On March 11, 2010,
the Examiner will move the Court to establish procedures that would enable either the unsealing
of the Report or means for accessing the Report. Undoubtedly, information contained in the
Report will be pertinent to the Debtors’ Plan and their Disclosure Statement. In addition, the
Debtors’ ongoing pursuit to thoroughly assess the values of their assets and liabilities that will be
subject to the Plan must be completed and included in their Disclosure Statement. Voluminous
amounts of data and information must still be compiled, analyzed and summarized for inclusion
in a comprehensive Disclosure Statement that will enable impaired claimants to make informed
judgments as to whether to accept or reject the Debtors’ Plan. Each of the foregoing are integral
to the Disclosure Statement formulation. Accordingly, the Debtors require additional time in
which to complete and file their Disclosure Statement and proceed with the solicitation of
acceptances of their Plan. The Debtors intend to use such additional time as the Court may
grant, as aforesaid, to meet and confer with the representatives of major constituencies to seek
their input as to the provisions of the Plan and to enable the Debtors to file a fulsome, complete
Disclosure Statement that is consistent with section 1125 of the Bankruptcy Code. Accordingly,
it is requested that the time within which the Debtors may file their Disclosure Statement be
extended, through and including April 14, 2010, without prejudice to any future request for a
further extensions for cause shown.
Don't know how A&M can throw any Lehman Class out. They still don't know what the whole is going to be. Seems to me that has to include all classes of Lehman Stakeholders. Bonds, Trusts, Preferreds, Common.
Just my opinion. How can you have a plan that throws out classes when they file a plan and not a disclosure statement...
This just posted to the LBHI website on MORE DB purchases...
7353 3/2/2010 Transfer Agreement FRBP Transfer Agreement 3001 (e) 2 Transferors:Mizuho Bank (Switzerland) Ltd.(Claim No.56637, Amount 6,762,122.08). To Deutsche Bank AG, London Branch. filed by Jeffrey M. Olinsky on behalf of Deutsche Bank AG, London Branch.(Olinsky, Jeffrey)
Debtor: Lehman Brothers Holdings Inc.
Related: none Document
--------------------------------------------------------------------------------
Main Document
7352 3/2/2010 Transfer Agreement FRBP Transfer Agreement 3001 (e) 2 Transferors:London Select Fund Limited(Claim No.23593, Amount 11,117,158.00). To Deutsche Bank AG, London Branch. filed by Jeffrey M. Olinsky on behalf of Deutsche Bank AG, London Branch.(Olinsky, Jeffrey)
Debtor: Lehman Brothers Holdings Inc.
Related: none Document
--------------------------------------------------------------------------------
Main Document
7351 3/2/2010 Transfer Agreement FRBP Transfer Agreement 3001 (e) 2 Transferors:Capula Global Relative Value Master Fund Limited(Claim No.19686, Amount 8,524,454). To Deutsche Bank AG, London Branch. filed by Jeffrey M. Olinsky on behalf of Deutsche Bank AG, London Branch.(Olinsky, Jeffrey)
Debtor: Lehman Brothers Holdings Inc.
Related: none Document
--------------------------------------------------------------------------------
Main Document
7350 3/2/2010 Transfer Agreement FRBP Transfer Agreement 3001 (e) 2 Transferors:Swiss Re Financial Products Corporation(Claim No.27877, Amount 7,157,163.35); Swiss Re Financial Products Corporation(Claim No.27877, Amount 9,262,048.59); Swiss Re Financial Products Corporation(Claim No.27878, Amount 40,590,299.14); Swiss Re Financial Products Corporation(Claim No.27879, Amount 75,335,304.27); Swiss Re Global Markets Limited(Claim No.27880, Amount 6,051,196.98). To Deutsche Bank AG, London Branch. filed by Jeffrey M. Olinsky on behalf of Deutsche Bank AG, London Branch.(Olinsky, Jeffrey)
Debtor: Lehman Brothers Holdings Inc.
They are bonafied Lehman claims. Just like the letter that Mic has been referring to.
Trusts will qualify. Just varies between Sr. or Junior unsecured debt, maybe a little below that... and probably minus some liquidity factor.
Judging from the bonds...you might get anywhere from .15-.24 on the dollar...today. Or about $3.75 to $6.00 per trust share if I am doing my math right.
Make your own decisions and do your own homework. Don't rely on me or anyone else!
Check the Ibox it shoes how to get prices at www.finra.org
Let make it one more purchase by DB in addition to the other two...this only $30M+.
7349 3/2/2010 Transfer Agreement FRBP Transfer Agreement 3001 (e) 2 Transferors:The Governor and the Company of the Bank of Irelan(Claim No.7369, Amount 14,697,630.04); The Governor and the Company of the Bank of Irelan(Claim No.7370, Amount 14,697,603.04); The Governor and the Company of the Bank of Irelan(Claim No.7371, Amount 2,698,951.81). To Deutsche Bank AG, London Branch. filed by Jeffrey M. Olinsky on behalf of Deutsche Bank AG, London Branch.(Olinsky, Jeffrey)
Debtor: Lehman Brothers Holdings Inc.
The first $130M+ is bought from the European Credit Funds. The second $150M+ is bought from Nordsbank.
Taken from LBHI Dockets page...another $150M bought by DB...
7344 3/2/2010 Transfer Agreement FRBP Transfer Agreement 3001 (e) 2 Transferors:
HSH Nordbank AG(Claim No.4699, Amount 764,348.00);
HSH Nordbank AG(Claim No.30067, Amount 30,761,755.00);
HSH Nordbank AG(Claim No.20232, Amount 5,602,725.00);
HSH Nordbank AG(Claim No.20234, Amount 5,602,725.00);
HSH Nordbank AG(Claim No.20235, Amount 30,761,755.00);
HSH Nordbank AG(Claim No.20236, Amount 21,544,979.00);
HSH Nordbank AG(Claim No.20237, Amount 21,544,979.00);
HSH Nordbank AG(Claim No.45922, Amount 21,876,326.46);
HSH Nordbank AG(Claim No.45923, Amount 21,876,326.46).
To Deutsche Bank AG, London Branch. filed by Jeffrey M. Olinsky on behalf of Deutsche Bank AG, London Branch.(Olinsky, Jeffrey)
Debtor: Lehman Brothers Holdings Inc.
Mic: Looks like your DB just bought in excess of 100M in claims...
7342 3/2/2010 Transfer Agreement FRBP Transfer Agreement 3001 (e) 2 Transferors:European Credit (Luxembourg) S.A.(Claim No.21556, Amount 80,798,607.04); Diversified Financials Europe S.A.(Claim No.21557, Amount 627,628.45); Relative European Value S.A.(Claim No.21558, Amount 1,026,966.22); Relative European Value S.A.(Claim No.21656, Amount 4,419,580.26); Corporate Credit (Europe) SA(Claim No.21657, Amount 2,883,417.38); European Credit Fund SICAV(Claim No.21659, Amount 5,650,589.60); Diversified European Credit S.A.(Claim No.21775, Amount 38,562,702.89); Diversified European Credit S.A.(Claim No.21776, Amount 3,779,559.34); European Credit (Luxembourg) S.A.(Claim No.21777, Amount 5,661,508.05); Investment Grade Europe S.A.(Claim No.21778, Amount 4,194,922.01). To Deutsche Bank AG, London Branch. filed by Jeffrey M. Olinsky on behalf of Deutsche Bank AG, London Branch.(Olinsky, Jeffrey)
Debtor: Lehman Brothers Holdings Inc.
Oh Yeah!
U.S. high-yield stress index falls further in Feb
http://www.reuters.com/article/idUSN0215232620100302
Tue Mar 2, 2010 11:55am EST
NEW YORK, March 2 (Reuters) - A key indicator of stress in the junk bond market fell again in February, indicating that access to credit remains intact for even the riskiest of corporate borrowers, Moody's Investors Service said on Tuesday.
The agency's Liquidity-Stress Index fell for the eleventh consecutive month in February to 6.8 percent, the lowest since the global crisis deepened after the collapse of Lehman Brothers in September 2008.
The index stood at 7.7 percent in January.
While some speculative-grade, or "junk"-rated companies postponed debt sales last month as credit markets were unsettled by concerns about European sovereign risk, access to credit remains intact, Moody's said.
"We're still seeing refinancings close and there is little evidence of a repeat of the 2007-2009 credit pullback," Moody's said in the report.
The agency said that there are early signs of improving cash balances among junk-rated companies and some are even accessing debt markets to fund acquisitions.
The stress index measures the number of companies that carry the credit rating agency's lowest liquidity rating of SGL-4.
In February, there were 10 SGL upgrades versus only one SGL downgrade. (Reporting by Tom Ryan; Editing by James Dalgleish)
Found this proof that assets are still improving...along with ACCESS TO CREDIT MARKETS!
Coach T
I think that JPM will be the proven to be the largest part of the BK. I believe that the $17B is separate from the money that was reported in the news regarding the settlement. Mr. Marsal was ready to fight for that $17B from the first day he was in charge of the reorg process.
I still believe that one of the larger Lehman counterparties or Barclays will be involved in the reorg plan. I think they have been lurking to see what type of risk is left in the Lehman asset/derivatives mix.
If they could take on Lehman without a whole lot of risk I think it would be a great PR move and I think that JPM has the most exposure to the Lehman derivative portfolio. If you already have the risk why not take over the Global Assets that would give a rocket boost to any growth scenario.
It is not too far fetched to see the US give some assistance to some buyout offer. Trillions of dollars have been tied up worldwide in the Lehman BK. It would be one easy way to inject much needed liquidity into world markets with minimal guarantee IMO. Make your own decisions. However, Brikk and I have been discussing this possibility for quite a while now.
Any thoughts?
Bonds are moving higher into new high ground, albeit modestly...
So if I read this right March 11 is the day the Examiner tries to set the rules to release the report...which he wants the public to see.
March 15 is the last day for Debtor's reorg plan.
March 17 is last day to accept all reorg plans. (This does not seem right...does not seem like enough time. Maybe I read it wrong.
No one has any up to date information on assets/liabilities, etc.
No one has any idea of the outcome of claims.
No one has any idea on outcome of legal issues.
How can ANY class of Lehman Security from Bonds to Trusts to Preferreds to Common be cancelled? I am thinking this reorg time either gets extended again...or no one gets cancelled! Otherwise it would open up A&M to legal liability...any thoughts?
Calendar of Upcoming Events
agenda by date ascending agenda by descending date
--------------------------------------------------------------------------------
March 2010
1 12:00pm Hearing
2
3
4
5
6
7
8
9
10
11 2:00pm Hearing
12
13
14
15 Debtors’ exclusive period for filing a plan of reorganization expires
16
17 10:00am Omnibus Hearing
Deadline for Debtors to solicit acceptances for plan of reorganization
18
19
20
21
22
23
24
25 10:00am Omnibus Hearing
26
27
28
29
30
31
FYI...
Ok while the board is trying to figure out Mic's DB letter, I have another one for you...
LBHI Docket 7331 is the Examiner requesting clarification from the Court that he can talk to Government agencies WITHOUT violating the order under Seal of his report!
The authority granted from the Court in January 2009, it says the Examiner must communicate with government agencies. Yet the report that was requested to be filed "UNDER SEAL" will violate the "confidentiality agrrements" if he speaks to anyone without Court permission this was filed in February 8, 2010....
Here is the question...why does the Examiner now want the clarification as to whether or not he can speak with governemnt agencies after the report was filed under Seal.
What agency now wants to speak with the Examiner? Why is the volume picking just after the report was filed with the Court...coincidence?
I think not...just my opinion.
Mic:
Thanks for going to the trouble to type it in by hand.
Should we make a sticky out of it?
What happend to our bogus trade below $.02 this morning? It appears to have disappeared now...you know the one for 150 shares. The trade to check for all stops.
It should not be long now folks...IMO that was the signal.
The Cap Trusts are bid strongly.
The F's have a bogus trade at $.054 it is obvious that this is Lehman wide accumulation.
Should be some news breaking soon...just my thoughts. Do your own homework.
MACD's about ready to go positive...on the weekly charts.
Wow. The Perfect Storm...
Thank you all for your kind comments...
Linda...there is no set plan for new shares in reorg companies. It simply is based upon the economics within each transaction.
Take General Growth Properties for example...they have solid bid for $13 a share (commons) from Simon Properties (SPG). Yet they go out and raise money they could not raise late in 2008 and are going to go it with a different partner.
What ever happens with the reorg Lehman plan you can bet will be a very creative one.
As of the last balance sheet June 30, 2009, including very conservative asset marks, the asset to liabilites were 86%. Mr. Miller lead attorney for Weil, Gotchal & Manges has already said to the Judge in the transcripts of the November creditors meeting that there are parties of interest in Lehman wanting information.
This is far from over IMO... The next 30 days we may very well remember for the rest of our lives!
MARCH EVENTS!
Heads up! The Debtors exclusivity period ends on March 15th! I was thinking it was the end of March. This is the end of the time that the court allows Debtors to come up with their own plan of Reorganization.
March 11 - Anton Valukas goes before Judge Peck to plead his case to unseal the Examiner's report!
Monster Ominbus Hearing on the 17th including...
Omnibus Hearing Location: Courtroom 601, United States Bankruptcy Court, Alexander Custom House, One Bowling Green, New York, New York 10004
(a) Debtors’ Application Pursuant to Section 327(a) of the Bankruptcy Code for an Order Authorizing the Retention and Employment of Deloitte Tax LLP as Tax Services Providers Nunc Pro Tunc to November 1, 2008 (Case No. 08-13555, Docket No. 7135) [Objections are due by March 12, 2010 at 4:00 p.m.]
(b) Debtors’ First Omnibus Objection to Claims (Duplicate Claims) (Case No. 08-13555, Docket No. 6873) [Objections are due by March 1, 2010 at 4:00 p.m.]
(c) Debtors’ Second Omnibus Objection to Claims (Amended and Superseded Claims) (Case No. 08-13555, Docket No. 6874) [Objections are due by March 1, 2010 at 4:00 p.m.]
(d) Debtors’ Third Omnibus Objection to Claims (Duplicate Claims) (Case No. 08-13555, Docket No. 6875) [Objections are due by March 1, 2010 at 4:00 p.m.]
(e) Debtors’ Fourth Omnibus Objection to Claims (Amended and Superseded Claims) (Case No. 08-13555, Docket No. 6876) [Objections are due by March 1, 2010 at 4:00 p.m.]
(f) Debtors’ Objection to Proof of Claim filed by Latshaw Drilling Company, LLC (Claim No. 18346) (Case No. 08-13555, Docket No. 6729) [Objections are due by February 24, 2010 at 4:00 p.m.]
(g) Debtor’s Objection to Proof of Claim filed by David Schwartzman [Claim No. 22675] (Case No. 08-13555, Docket No. 5951) (Adjourned) [Objections were due by February 3, 2010 at 4:00 p.m.]
(h) Motion of Lehman Brothers Holdings Inc. to Amend the Order Authorizing Debtors to Establish Procedures to Sell or Abandon De Minimis Assets (Case No. 08-13555, Docket No. 6710) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(i) Debtors’ Motion Pursuant to Sections 105(a) and 362 of the Bankruptcy Code for Approval of Certain Restrictions and Procedures Applicable to Transfers of the Debtors Securities (Case No. 08-13555, Docket No. 6699) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(j) Debtors’ Motion Pursuant to Sections 105(a) and 362 of the Bankruptcy Code for an Order Enforcing the Automatic Stay Against and Compelling Payment of Post-Petition Funds by Swedbank AB (Case No. 08-13555, Docket No. 6734) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(k) Debtors’ Motion Pursuant to Sections 105(a) and 362 of the Bankruptcy Code for an Order Enforcing the Automatic Stay Against and Compelling Payment of Post-Petition Funds by Skandinaviska Enskilda Banken AB (Case No. 08-13555, Docket No. 6737) (Adjourned) [Objections are due by February 26, 2010]
(l) Debtors’ Motion Pursuant to Sections 105(a) and 362 of the Bankruptcy Code for an Order Enforcing the Automatic Stay Against and Compelling Payment of Post-Petition Funds by First National Bank (Case No. 08-13555, Docket No. 6740) (Adjourned) [Objections were due by February 17, 2010]
(m) Debtors’ Motion Pursuant to Section 105(a) of the Bankruptcy Code and Bankruptcy Rules 3007 and 9019(b) for Approval of (i) Claim Objection Procedures and (ii) Settlement Procedures (Adjourned re: Unresolved objections and Settlement Procedures) (Case No. 08-13555, Docket No. 6374) [Objections were due by January 11, 2010 at 4:00 p.m.]
(n) Motion of Debtors and Debtors in Possession Pursuant to Section 105(a), 362, and 365 of the Bankruptcy Code to Compel Performance by Norton Gold Fields Limited of its Obligations Under an Executory Contract and to Enforce the Automatic Stay (Case No. 08-13555, Docket No. 5897) (Adjourned) [Objections were due by December 4, 2009 at 4:00 p.m.]
(o) Motion of Debtor and Debtor in Possession Pursuant to Sections 105(a), 362 and 365 of the Bankruptcy Code, to Compel Performance by AIG CDS, Inc. of Its Obligations Under an Executory Contract and to Enforce the Automatic Stay (Case No. 08-13555, Docket No. 4728) (Adjourned) [Objections were due by October 1, 2009 at 4:00 p.m.]
(p) Debtors’ Motion to Amend Order Authorizing Debtors to Employ Professionals Utilized in the Ordinary Course of Business (Case No. 08-13555, Docket No. 7185) [Objections are due by March 5, 2010 at 4:00 p.m.]
(q) Interim Applications for Allowance of Compensation for Professional Services Rendered and for Reimbursement of Actual and Necessary Expenses for June 1, 2009 through September 31, 2009 (Case No. 08-13555, Multiple Docket Nos.) (Adjourned) [Objections were due by January 6, 2010 at 4:00 p.m.]
(r) Motion of Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc. for Leave to Conduct Discovery of JPMorgan Chase Bank, N.A. Pursuant to 11 U.S.C. §§105(a) And 1103(c) and Federal Rule of Bankruptcy Procedure 2004 (Case No. 08-13555, Docket No. 566) (Adjourned) [Objections were due by March 6, 2009 at 4:00 p.m.]
(s) Motion of Official Committee of Unsecured Creditors for Reconsideration of Court’s September 17, 2008 Interim Order (I) Authorizing Debtor to Obtain Postpetition Financing Pursuant to Sections 363 and 364 of Bankruptcy Code and (II) Granting Liens and Superpriority Claims to Postpetition Lenders Pursuant to Section 364 of Bankruptcy Code (Case No. 08-13555, Docket No. 434) (Adjourned) [Objections are due by March 10, 2010 at 5:00 p.m.]
(t) Motion by Factiva, Inc., Factiva Limited and Dow Jones & Company, Inc. for an Order (A) Compelling Immediate Payment of Post-Petition Administrative Expense Claims and (B) Compelling the Debtors to Assume or Reject Executory Contracts or Alternatively Modifying the Automatic Stay to Permit Movants to Terminate the Executory Contracts (Case No. 08-13555, Docket No. 7102) [Objections are due by March 12, 2010 at 4:00 p.m.]
(u) Motion of U.S. Bank National Association, As Trustee, Pursuant to Section 105(a) of the Bankruptcy Code Authorizing (I) the Withdrawal of Neuberger Berman Fixed Income LLC as the Investment Manager of Lehman Brothers ABS Enhanced Libor, Ltd.; (II) the Withdrawal of the Directors of Lehman Brothers ABS Enhanced Libor, Ltd. and the Replacement of such Directors with Directors Designated by TCW Asset Management Company; (III) the Transfer of the Rights to manage Lehman Brothers ABS Enhanced Libor, Ltd.'s Portfolio to TCW Asset Management Company; and (IV) the Exchange of Units in Lehman Brothers ABS Enhanced Libor Fund for Shares in Lehman Brothers ABS Enhanced Libor, Ltd. (Case No. 08-13555, Docket No. 6811) [Objections are due by March 1, 2010 at 4:00 p.m.]
(v) Motion of Dynegy Power Marketing Inc. for Entry of an Order that its Timely Filed Guarantee Questionnaire be Deemed a Timely Filed Proof of Claim, or, in the Alternative, to Permit a Late Claim Filing Pursuant to Federal Rule of Bankruptcy Procedure 9006(b)(1) (Case No. 08-13555, Docket No. 7008) [Objections are due by March 10, 2010 at 12:00 p.m.]
(w) Motion of Dynegy Power Marketing Inc. for an Order Authorizing the Filing Under Seal of a Certain Exhibit to its Motion for Entry of an Order that Its Timely Filed Guarantee Questionnaire Be Deemed a Timely Filed Proof of Claim, or, in the Alternative, to Permit a Late Claim Filing Pursuant to Federal Rule of Bankruptcy Procedure 9006(b)(1) (Case No. 08-13555, Docket No. 7004) [Objections are due by March 10, 2010 at 12:00 p.m.]
(x) Motion of Tensor Opportunity Limited to Permit it to File a Late Proof of Claim Pursuant to Federal Rule of Bankruptcy Procedure 9006(b)(1) (Case No. 08-13555, Docket No. 7032); Amended Motion Filed on February 18, 2010 (Docket No. 7161, 7162) [Objections are due by March 10, 2010 at 5:00 p.m.]
(y) Motion to Authorize Santa Fe Entities to Treat Their Claims as Timely Filed (Case No. 08-13555, Docket No. 7144) [Objections are due by March 10, 2010 at 4:00 p.m.]
(z) Palmyra Capital Fund, L.P., Palmyra Capital Institutional Fund, L.P., Palmyra Capital Offshore Fund, L.P.’s Motion to Amend Proof of Claims (Case No. 08-13555, Docket No. 6747) [Objections were due by February 5, 2010]
(aa) Motion of Pennsylvania Public School Employees’ Retirement System for Entry of an Order that its Timely Filed Guarantee Questionnaire be Considered a Timely Filed Proof of Claim, Or, in the Alternative, to Permit a Late Claim Filing (Case No. 08-13555, Docket No. 6558) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(bb) Motion of Pacific Life Insurance Company to File Proof of Claim After Bar Date (Case No. 08-13555, Docket No. 5599) (Adjourned) [Objections were due by November 13, 2009 at 4:00 p.m.]
(cc) Joint Motion of Sea Port Group Securities, LLC and Berner Kantonalbank to Deem Proofs of Claim to be Timely Filed by the Securities Programs Bar Date (Case No. 08-13555, Docket No. 6150) (Adjourned) [Objections were due by January 8, 2010 at 12:00 p.m.]
(dd) Motion of Mark Glasser for Leave to File Late Proof of Claim (Case No. 08-13555, Docket No. 6385) (Adjourned) [Objections were due by February 5, 2010 at 5:00 p.m.]
(ee) Motion by Merrill Lynch International and Certain of its Affiliates for Entry of an Order (A) Confirming Ability to Deliver Notice of Acceleration with Respect to Certain Notes Issued by Foreign Affiliate without Relief from the Automatic Stay or (B) Granting Limited Relief from the Automatic Stay to Deliver such Notice (Case No. 08-13555, Docket No. 5958) (Adjourned) [Objections were due by December 13, 2009 at 4:00 p.m.]
(ff) Motion of U.S. Bank National Association as Trustee for Relief from Stay as to the property located at 1347 E 80th Street, Brooklyn, NY 11236 (Case No. 08-13555, Docket No. 5497) (Adjourned) [Objections were due by February 5, 2010 at 4:00 p.m.]
(gg) U.S. Bank, National Association, Trustee for Lehman Brothers Securitization Name Structured Asset Investment Loan Trust’s Motion for Relief from Stay as to the Property Located at 187-01 Ridgedale Street, Springfield Garden, NY 11413 (Case No. 08-13555, Docket No. 6315) (Adjourned) [Objections were due by February 5, 2010]
(hh) U.S. Bank, National Association, Trustee Lehman Brothers Securitization Name-Structured Asset Investment Loan Trust’s Motion for Relief from Stay as to the Property Located at 150-18 115th Dr., Jamaica, NY 11434 (Case No. 08-13555, Docket No. 6314) (Adjourned) [Objections were due by February 5, 2010]
(ii) Property Asset Management Inc.’s Motion for Relief from Stay as to the Property Located at 116-69 233rd Street, Cambria Heights, NY 11411 (Case No. 08-13555, Docket No. 6335) (Adjourned) [Objections were due by February 5, 2010]
(jj) U.S. Bank, National Association, Trustee for Lehman Brothers Structured Asset Investment Loan Trust SAIL 2005-7’s Motion for Relief from Stay as to the Property Located at 107-48 122nd Street, Richmond Hill, NY 11419 (Case No. 08-13555, Docket No. 6345) (Adjourned) [Objections were due by February 5, 2010]
(kk) U.S. Bank, National Association, Trustee for BNC Mortgage Loan Trust 2007-1’s Motion for Relief from Stay as to the Property Located at 4 Carnaby Ave, Coram, NY 11727 (Case No. 08-13555, Docket No. 6346) (Adjourned) [Objections were due by February 5, 2010]
(ll) U.S. Bank, National Association, Trustee Lehman Brothers Securitization Name-Structured Asset Investment Loan Trust’s Motion for Relief from Stay as to the Property Located at 111 Alter Avenue, Staten Island, NY 10304 (Case No. 08-13555, Docket No. 6347) (Adjourned) [Objections were due by February 5, 2010]
(mm) Property Asset Management Inc.’s Motion for Relief from Stay as to the property located at 1219 E 59th Street, Brooklyn, NY 11234 (Case No. 08-13555, Docket No. 6350) (Adjourned) [Objections were due by February 5, 2010]
(nn) U.S. Bank, National Association, Trustee Lehman Brothers Securitization Name-Structured Asset Investment Loan Trust’s Motion for Relief from Stay as to the Property Located 94-12 Forbell Street, Ozone Park, NY 11416 (Case No. 08-13555, Docket No. 6402) (Adjourned) [Objections were due by February 5, 2010]
(oo) Motion of Tuxedo Reserve Owner LLC and Tuxedo TPA Owner LLC for an Order Pursuant to Bankruptcy Code Sections 105, 363, and 1107 Authorizing and Compelling Actions by Debtors as Agent and Lender Under Loan Facility and Granting Related Relief (Case No. 08-13555, Docket No. 1435) (Adjourned) [Objections are due by March 10, 2010]
(pp) Motion of 1407 Broadway Real Estate LLC and PGRS 1407 BWAY LLC for an Order (I) Compelling Certain of The Debtors to Comply With Their Lending Obligations; And/Or Alternatively (II) Granting The Movants Relief From The Automatic Stay; And (III) Authorizing The Movants to Conduct Examinations of The Debtors And Request The Production of Documents Pursuant to F.R.B.P. 2004 (Case No. 08-13555, Docket No. 5716) (Adjourned) [Objections were due by February 3, 2010]
(qq) Motion of WWK Hawaii-Waikapuna, LLC, WWK Hawaii-Moaula, LLC, WWK Hawaii-Honu’apo, LLC, WWK Hawaii-Little Honu’apo, LLC, WWK Hawaii-House Parcel 2, LLC, and WWK Hawaii-Naalehu Parcel 1, LLC for Order (I) Setting Prompt Date for Assumption or Rejection of Project Loan; (II) Upon Rejection, Granting Relief from the Automatic Stay; and (III) Granting Related Relief (Case No. 08-13555, Docket No. 3182) (Adjourned) [Objections were due by April 17, 2009 at 4:00 p.m.]
(rr) Third Interim Application of Norton Rose LLP for Allowance of Interim Compensation for Services Rendered and Reimbursement of Actual and Necessary Expenses Incurred from June 1, 2009 through September 23 2009 (Adv. Proc. No. 08-01420, Docket No. 2558) [Objections are due by March 10, 2010 at 4:00 p.m.]
(ss) First Application of Steinmetz, Haring, Gurman & Co. for Allowance of Interim Compensation for Services Rendered and Reimbursement of Actual and Necessary Expenses Incurred from August 13, 2009 through December 31, 2009 (Adv. Proc. No. 08-01420, Docket No. 2654) [Objections are due by March 10, 2010 at 4:00 p.m.]
(tt) First Application of Menaker & Herrmann LLP for Allowance of Interim Compensation for Services Rendered and Reimbursement of Actual and Necessary Expenses Incurred from August 3, 2009 Through December 31, 2009 (Adv. Pro. No. 08-01420, Docket No. 2664) [Objections are due by March 10, 2010 at 4:00 p.m.]
(uu) Trustee’s Motion Pursuant to Sections 105(a) and 363(b) of the Bankruptcy Code for an Order Approving a Transition Services Agreement with Barclays Capital Inc. (Adv. Proc. No. 08-01420, Docket No. 2555) (Adjourned) [Objections were due by February 3, 2010 at 4:00 p.m.]
(vv) Trustee’s Motion for an Order Establishing Procedures Governing Claims Asserted and Adversary Proceedings Commenced by Trustee Pursuant to 11 U.S.C. 544, 547, 548 and 550 (Adv. Proc. No. 08-01420, Docket No. 2554) (Adjourned) [Objections were due by February 5, 2010 at 12:00 p.m.]
(ww) Motion of James W. Giddens, as Trustee for Lehman Brothers Inc., Pursuant to Sections 105(a) and 362 of the Bankruptcy Code and Section 78eee(b)(2)(B) of SIPA, for an Order Enforcing the Automatic Stay and the Stays in the LBI Liquidation Order and Holding Israel Discount Bank Limited and Bank Leumi Le-Israel B.M. in Contempt for Violating the Automatic Stay, Interfering with the Trustee’s Administration and Property of the Debtor’s Estate, and Commencing Foreign Legal Proceedings Against the Debtor (Adv. Proc. No. 08-01420, Docket No. 2288) (Adjourned) [Objections were due by December 17, 2009 at 4:00 p.m.]
(xx) Motion of Newport Global Opportunities Fund LP, Newport Global Credit Fund (Master) L.P., PEP Credit Investor L.P. and Providence TMT Special Situations Fund L.P. for Leave to Conduct Rule 2004 Discovery of Lehman Brothers, Inc. and SIPA Trustee (Case No. 08-13555, Docket No. 435; Adv. Proc. No. 08-01420, Docket No. 123) (Adjourned) [Objections are due by March 12, 2010 at 4:00 p.m.]
(yy) Motion of Markit Group Limited for Relief From Automatic Stay to Terminate Data Services Agreement and Associated Addenda (Adv. Proc. No. 08-01420, Docket No. 356) (Adjourned) [Objections were due by May 29, 2009 at 11:59 p.m.]
This is just the 10:00 hearing there is still a 2:00 hearing!
Coach T
It has always seemed to me that mathematically, just to have the shot at getting $25 a share the Preferreds should be in the $.50-$.75 range regardless of the fundamentals.
To date, I can only think of one or two MINOR decisions that have gone against Lehman.
EVERY ONE OF THE IMPORTANT COURT DECISIONS HAS GONE IN FAVOR OF LEHMAN BROTHERS!
Keep the Faith!
That chart has the look of $1.00 to me...unless we get news on the weekend...and then GAP!
At $.375 the PnF charts will flip to BUY signal...FYI
THE PERFECT STORM...
More people are starting to see...
Remember that $.24 print from last month???
Rikki
A close of $.18-$.24 puts us in great shape on the weeklies and more importantly the monthly charts.
I would like to see your 4M shares today to confirm.
$.15 gave up pretty easily.
Are those Storm Clouds on the horizon??