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FWIW, I just received the IRS circular 230 notice today from my broker.
Archstone has still been growing acquiring properties in a sponsored partnership.
Archstone Press Releases
http://www.archstoneapartments.com/Press_Releases/Archstone_Apartments_Press_Release_Link_Page.htm
Some may say.....
It could be that Lehman may have wanted to treat it as equity but may have been told it must be treated as debt.
Is it 2016 yet?
FAS on Fire can't wait for a FS
It gets even more complicated when you have a company change hands/tickers too. Like STS/DYMH/EVRM - They will need to provide all info (documents,regulatory forms) pertaining to the sale/merger of previous companies as well.
This reminds me of BBDA when Brian Weber took over the company. He also tried to file financials by having an audit performed but he couldn't becvause the old CEO that sold the company did some shady sh!t and never filed the correct paperwork. They found out in order to file financials they would have to be audited and pay any applicable fees owed by the former owner. To this date I don't believe they have done it.
I updated my last post. The pinks are rigorous because they need to provide accounting receipts, taxes, salaries, etc for the past years as well to show how they got any if applicable assets, equity, income, capital, etc. Usually companies trading on the OTC or startups or what have you never keep any of this info (documents) on hand due to the fact they are not required to ever file anything regarding financials on the OTC exchange.
When the time comes and they want to file some financials to try and make a respectable company, they find out then they must do a ton of backtracking. the problem is that if they do not provied the necessary paperwork within the given time frame of filing the paperwork they must start all over again.
I've seen companies just actually give up on it before. It takes time and patience.
Not sure what you consider long but I've been in and out since DYMH and I've always fared well.
Right, and that was why Linda called/emailed/mailed the BNY Trustee many times in 2009-2010.
She also sent a letter/petition to judge Peck and and objection back in 09-10
Try post #852
Not for me.
No, they purchased their holding after the final date for filing claims. which if I remember correctly was july 2009. Their beef was the judge would not let them file a claim for the gaurantee because the date for filing claims had passed.
I've been getting filled on the bid all week.
http://finance.yahoo.com/mbview/threadview/?m=ts&bn=10602&tid=258153&mid=258183&tof=36&rt=2&frt=2&off=1
THIS WAS IN 2010
Accredited Business Consolidators Slams Bank of N.Y. Mellon for 10% Loss From Sale of Lehman Bros. Assets - cbl By citybizlist Staff NEW YORK -- Accredited Business Consolidators Corp. (OTC Pink Sheets: ACDU) has slammed the Bank of New York Mellon, accusing the trustee of some Lehman Bros. debt of doing little to protect noteholders as it booked a loss of at least $800,000 by liquidating related assets, according to an 8-K filing with the U.S. Securities and Exchange Commission. "If Bank of New York Mellon, which serves as trustee for the Capital Trusts, was taking a more proactive role in protecting the rights of the noteholders, we would have been more comfortable in seeing the end result," the Doylestown-based firm said after it decided to not wait for uncertain bankruptcy proceedings to unfold and sold its assets at a loss of at least 10 percent. ACDU, as Accredited Business Consolidators refers to itself, last year formed Bankruptcy Claims Fund Inc., with its subsidiary, Italian Oven Financial Inc., as the majority owner. Bankruptcy Claims then bought some Lehman Bros. debt assets consisting of investments in trusts that held subordinate notes known as Capital Trusts for more than $8 million. Those shares traded publicly on the Pink Sheets under the ticker symbols LEHKQ, LEHLQ, LHHMQ and LEHNQ. ACDU also restructured those assets using favorable market conditions. But ACDU suffered a setback on March 15 when Lehman Bros., in its bankruptcy reorganization plan, proposed to treat holders of subordinate notes as unsecured creditors but transfer the funds to holders of senior unsecured notes and bonds. Under the circumstances, ACDU said, the only way for a Capital Trust stakeholder to receive any money would be for the senior notes to be paid at 100 percent of their face value during the liquidation process. ACDU believed it could claim payment guarantees if bankruptcy liquidation fell short of reimbursement to Capital Trust noteholders. However, the trustee, Bank of New York Mellon, contended that "the guarantee would only provide rights in the event a recovery is realized." Consequently, ACDU said, it was left with the choice of pursuing protracted and expensive court battles or of selling out and incurring a loss. It chose the latter, selling its Capital Trust assets for about 10 percent lower than the original investment.
HERE WAS A REPLY
Thank you for the excellent information This paragraph caught my eye in particular But ACDU suffered a setback on March 15 when Lehman Bros., in its bankruptcy reorganization plan, proposed to treat holders of subordinate notes as unsecured creditors but transfer the funds to holders of senior unsecured notes and bonds. Under the circumstances, ACDU said, the only way for a Capital Trust stakeholder to receive any money would be for the senior notes to be paid at 100 percent of their face value during the liquidation process. (Interesting that - despite the above - apparently they could sell their holdings for only a 10% drop in price)
Actually when coach and the perfect storm were around CT's were tradin in the 20 -25c range a few days before the POR came out CT's went to 70-90c for a couple days then tanked after the POR came out.
Coach left after the POR came out, so did that Pinksheet company that bought around a half million shares. I believe it was (Italian oven IOVE? or w/e) changed names probably a dozen times by now ADCU or ACDU.
The J's went from 8c to a dollar too at that time. Anyone that was around then should have made bank and riding free shares now or just flat out left.
Why would they even deal with anyone if they wanted CT's.... They could just buy them on the open market like you or I.....
I believe they raised it to 67 billion.
One thing that is for sure is that "if" and thats a big "if" there were dividends (or back interest) to be paid to CT holders, it would just be reallocated to senior creditors. Unless of course by some miracle Lehman was to pay off and discharge debt before the hypothetical dividend payment.....
correct me if I'm wrong but I believe this was discussed years ago. Doesn't the prospectus specifically state that the dividend payment may be suspended up to 20 quarters except in the event of default?
Lehman Judge Won’t Redo JPMorgan $8.6 Billion Suit Ruling.
http://www.businessweek.com/news/2012-08-08/lehman-judge-won-t-redo-jpmorgan-8-dot-6-billion-suit-ruling
LEHNQ +19,900% on 1,800ea
Good ole' Bank of New York Mellon is the Trustee too.
Lehman’s corporate bankruptcy Chapter 11 is very complicated. It is still not clear whether the company can continue. It is also not clear whether the company will shut down. For the moment, it has turned into a liquidating company whose main activity is to repay its creditors and investors. It will continue its business in its old Manhattan offices, but will operate from fewer floors.
http://www.business-bankruptcy.com/corporate-bankruptcy/lehmans-complicated-corporate-bankruptcy-chapter-11/
Good article, I found the last paragraph of the stroy interesting.
As things stand, it does seem like Lehman Brothers will survive and flourish if the European economies suddenly turn around and the lawsuits are decided in Lehman’s favor. It’s a dicey situation for Lehman and the big lesson that all companies should derive from Lehman’s corporate bankruptcy Chapter 11 is that no company should invest in instruments or in markets that they don’t know about. Companies also must learn to invest within limits and not excessively play around with borrowed, especially with public funds.
I have No Idea, I own the preferred and haven't heard anything for over a year.
If a company passes on dividends and heads into bankruptcy, there is no guarantee that you will see past dividends. Preferred shareholders only have steady and secure dividends as long as a company is healthy. Preferred shareholders hold preference over common shareholders in bankruptcy, but they are still behind banks, other secured lenders, suppliers and bondholders. Preferred shareholders may have their shares repurchased at the fixed liquidation value in a bankruptcy, but the chances of recovering passed dividends are small.
Colonial Bancgroup?
CBCDQ
CBCPQ
Correct, They'll be Satisfied in full.
LEHNQ is CT
LEHMQ is common
Great Posts Mara and Thanks always for being honest and not having a hidden agenda.
I'll take reality over fantasy any day. Even though reality always seems to be frowned upon on Ihub
Conspiracy:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54179335
No LHHMQ lol
FORTUNE -- Unsecured creditors of Lehman Brothers may have choked last week when Harvey Miller, the lead attorney on the bank's bankruptcy,told Congress that the final bill to unwind its sprawling claims would likely hit $2 billion and take two more years to settle. He also said some of those creditors might only collect twenty cents on the dollar for approved claims.
http://money.cnn.com/2010/09/08/news/companies/corporate_bankruptcy_fees.fortune/
My condolences
BIG RUN EHH? Maybe I'll be able to afford a house like this? What do you think?
http://www.bing.com/maps/?v=2&cp=pkh6kq55sbbz&scene=32502765&lvl=2&sty=o&where1=3%20Inspiration%20Pt%2C%20Laguna%20Niguel%2C%20CA%2092677-9204
David Walter's(owns RMTD, MSTF, DLGI, BNCM, SSEV )
House from public information sources
this must be where the profits go. 14000 sq/ft.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48212482
Glad to see the new Engrish speaking bag holders have arrived.
Hi, You must not be familiar with the "noteholders" or
the holders of the Company’s (i) Series A Senior Secured Convertible Promissory Notes, (ii) Original Issue Discount Series A Senior Secured Convertible Promissory Notes, (iii) Series B Senior Secured Convertible Promissory Notes and (iv) Original Issue Discount Series B Senior Secured Convertible Promissory Notes, (collectively, the “Secured Notes”)
Let me introduce you.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=16412941
http://ih.advfn.com/p.php?pid=squote&symbol=BNCM
Hello, and welcome to 2007 when Remote Dynamics Symbols was RDYM...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=24723305