Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Have this objection been posted yet? From Gov at yahoo.
http://www.kccllc.net/documents/0812229/0812229110329000000000009.pdf
Look at Providian Services Corp same thing no value and we know who is holding that direct owned sub. Number 11 pg 62.
WaMu sub H.F. Ahmanson & Company pg 57
In 1998, Seattle-based thrift Washington Mutual (WaMu) purchased HF Ahmanson and its Home Savings unit for $10 billion. As a result of this takeover and those of American Savings and Great Western Financial, Washington Mutual became California’s second largest bank. At the time, HF Ahmanson had $55 billion in assets. [8]
http://www.google.com/url?sa=t&source=we...
Direct owned WMI sub pg 62/number 17 with no value assigned. LOL
The initial filing is on Form 3. An insider of an issuer that is registering equity securities for the first time under Section 12 of the Exchange Act must file this Form no later than the effective date of the registration statement. If the issuer is already registered under Section 12, the insider must file a Form 3 within ten days of becoming an officer, director, or beneficial owner.
Judge stated,
“I’m not gonna require the debtor to attach appraisals to the DS and the reference to book values is not helpful either. But I would suggest that since the debtor is going to include values with respect to the non-debtor subs that there be a clear indication of the debtor’s estimate of the value of those rather than simply a reference to book value."
To me this means: She requires hard numbers not estimates. BR better not BS her because everyone is watching.
IMO it’s the pending law suite.
Short Interest (Shares Short) 793,800
Short Interest – Prior 1,035,000
Short % Increase / Decrease -23.30
Total Shares Outstanding 331,410,000
Nice. eom
Who knows? Only time will tell.
Company Highlights
?? Three delineated project areas with long-term production potential of 100,000 bbl/d
?? Axe Lake ?? Fully delineated 35,000+ bbl/d SAGD project with pilot
project plans and facilities in place
?? Wallace Creek ?? Partially delineated resource with 35,000 bbl/d project potential
?? Raven Ridge ?? Well delineated resource analogous to Cenovus'
Borealis (Telephone Lake) project with longer-term opportunity for a
30,000 bbl/d project
?? Excellent reservoir qualities at all three projects
?? Additional discovered oil sands at Eagles Nest and oil shale at Pasquia Hills
?? McDaniel's high estimate1., 2. of contingent resources of ~1 billion barrels is consistent with management's view (see slide 9)
?? McDaniel's best estimate1. of contingent resources is 250 mmbbl
?? Pilot project at Axe Lake expected to increase best estimate contingent Resource
?? Extensive seismic, drilling, field testing, and laboratory work since April 2010 increases certainty
?? Third-party laboratory tests show that the glacial till cap layer over OQI reservoirs will contain steam
?? All three core OQI project areas can be developed using proven SAGD
technology
?? Management believes projects will be economically attractive
?? High quality, homogeneous bitumen reservoirs
?? Attractive royalty regime and regulatory framework in Saskatchewan
?? Growing activity in the region adds potential to share infrastructure with other operators
?? OQI has US$347 mm of tax pools available to offset future taxable
income
?? Current activity is adding value to assets while review of strategic
alternatives proceeds
Yea I hope Zacks is right with a book value per share of $1.15.
TOP 5 COMPANIES IN THE OIL & GAS EXPLORATION & PRODUCTION INDUSTRY OFFERING INVESTORS THE BEST VALUE (NGAS, CEP, BQI, DPTR, MILL)
http://www.zacks.com/research/get_news.php?id=075l5313
PVX has a uptrend for the last 6 months. As a bonus they pay monthly dividends.
Nice charts! Thanks Skaka.
GEORGIA GULF BULLISH MOVING AVERAGE CROSSOVER ALERT (GGC)
Mar 11, 2011 (SmarTrend(R) Market Surveillance via COMTEX) -- Today, shares of Georgia Gulf (NYSE:GGC) have crossed bullishly above their 10-day moving average of $32.81 on volume of 475 thousand shares.
This may provide swing traders with an opportunity for a long position as such a crossover often suggests higher prices in the near term. Watch for a close above this moving average level for confirmation.
SmarTrend issued an Uptrend Alert for Georgia Gulf on November 26, 2010 at $20.20. In approximately 4 months, Georgia Gulf has returned 62.5% as of today's recent price of $32.82.
In the past 52 weeks, shares of Georgia Gulf have traded between a low of $11.11 and a high of $34.91 and are now at $32.82, which is 195% above that low price.
In the last five trading sessions, the 50-day MA has climbed 2.85% while the 200-day MA has risen 1.72%.
We will continue to monitor GGC's share price relative to this moving average.
Write to Chip Brian at cbrian@tradethetrend.com
http://www.zacks.com/research/get_news.php?id=070l3082
Rule 506 of Regulation D
Rule 506 of Regulation D is considered a "safe harbor" for the private offering exemption of Section 4(2) of the Securities Act. Companies using the Rule 506 exemption can raise an unlimited amount of money. A company can be assured it is within the Section 4(2) exemption by satisfying the following standards:
The company cannot use general solicitation or advertising to market the securities;
The company may sell its securities to an unlimited number of "accredited investors" and up to 35 other purchases. Unlike Rule 505, all non-accredited investors, either alone or with a purchaser representative, must be sophisticated—that is, they must have sufficient knowledge and experience in financial and business matters to make them capable of evaluating the merits and risks of the prospective investment;
Companies must decide what information to give to accredited investors, so long as it does not violate the antifraud prohibitions of the federal securities laws. But companies must give non-accredited investors disclosure documents that are generally the same as those used in registered offerings. If a company provides information to accredited investors, it must make this information available to non-accredited investors as well;
The company must be available to answer questions by prospective purchasers;
Financial statement requirements are the same as for Rule 505; and
Purchasers receive "restricted" securities, meaning that the securities cannot be sold for at least a year without registering them.
While companies using the Rule 506 exemption do not have to register their securities and usually do not have to file reports with the SEC, they must file what is known as a "Form D" after they first sell their securities. Form D is a brief notice that includes the names and addresses of the company’s owners and stock promoters, but contains little other information about the company.
In February 2008, the SEC adopted amendments to Form D, requiring that electronic filing of Form D be phased in during the period September 15, 2008 to March 16, 2009. Although as amended, the electronic Form D requires much of the same information as the paper Form D, the amended Form D requires disclosure of the date of first sale in the offering. Previously, the closing date of an offering was used as the first date of sale. The Office of Small Business Policy has posted information on its web page about the filing requirement for the new Form D.
If you are thinking about investing in a Reg D company, you should access the EDGAR database to determine whether the company has filed Form D. If you need a copy of a Form D filed as a paper filing (which will include any Form D filed before September 15, 2008), you can request a copy using our online form. If the company has not filed a Form D, this should alert you that the company might not be in compliance with the federal securities laws
You should always check with your state securities regulator to see if it has more information about the company and the people behind it. Be sure to ask whether your state regulator has cleared the offering for sale in your state. You can get the address and telephone number for your state securities regulator by calling the North American Securities Administrators Association at (202) 737-0900 or by visiting its website. You’ll also find this information in the state government section of your local phone book.
For more information about the SEC’s registration requirements and common exemptions, read our brochure, Q&A: Small Business & the SEC.
Look at Weil history with JPM no wonder assets are disappearing.
Revolving Credit Facility for Pfizer
Represented Citi and J.P. Morgan Securities in a $5 billion revolving credit facility for Pfizer, one of the world's leading biopharmaceutical companies, for general corporate purposes and as a commercial paper backstop.
JPMorgan; Citi; Goldman Sachs
Financing for Ford Motor Company
Represented JP Morgan, Citi and Goldman Sachs Credit Partners in the $18.5 billion financing for Ford Motor Company. more
J.P. Morgan; Bank of America Merrill Lynch; Barclays; Citi; Goldman Sachs
Acquisition Financing and Credit Facility
Counsel to joint lead arrangers in a $22.5 billion bridge term facility supporting the financing of Pfizer's acquisition of Wyeth and in a $4 billion revolving credit facility.
J.P. Morgan Securities Inc., Banc of America Securities LLC, Goldman Sachs Credit Partners L.P., Morgan Stanley Senior Funding, Inc., UBS Securities LLC
Financing for Dr Pepper Snapple Group Demerger
Advised J.P. Morgan Securities Inc., Banc of America Securities LLC, Goldman Sachs Credit Partners L.P., Morgan Stanley Senior Funding, Inc. and UBS Securities LLC as bookrunners and certain of their affiliates as lenders in providing $4.4 billion of financing in connection with the demerger of Dr Pepper Snapple Group, Inc. ("DPS") from its former parent entity, Cadbury Schweppes plc. This financing consisted of a $2.2 billion term loan and $1.7 billion bridge loan, as well as a $500 million revolving credit facility. Weil Gotshal also represented affiliates of the lenders in the issuance by DPS of $1.7 billion aggregate amount of senior notes, the proceeds of which were used to refinance the bridge loan
Lehman Commercial Paper Inc.; JPMorgan Chase Bank, N.A.
Financing for Hawaiian Telcom Communications, Inc.
Represented Lehman Commercial Paper Inc. and JPMorgan Chase Bank, N.A. in the $1 billion financing for Hawaiian Telcom Communications, Inc.
Citi; JPMorgan
Acquisition Financing for AMC Entertainment Inc.
Represented Citi and J.P. Morgan Securities Inc., as joint lead arrangers, in an $850 million going private acquisition financing for AMC Entertainment Inc. and others to acquire Loews Cineplex Entertainment Corporation.
Goldman Sachs Credit Partners, L.P.; JP Morgan Securities Inc.
LBO Financing for Atlas Tube and Sharon Pipe
Represented Goldman Sachs Credit Partners L.P. and JP Morgan in the $1.69 billion cross-border secured cash flow and asset-based credit facilities for John Maneely Company's acquisition of Atlas Tube and Sharon Pipe.
JPMorgan Chase Bank; JP Morgan Securities Inc.; Lehman Brothers; Citi
Financing for Orchard Supply Hardware LLC
Represented JPMorgan Chase Bank, as administrative agent, in the dividend financing for Orchard Supply Hardware LLC.
JP Morgan Chase Bank
Acquisition Financing for Medco Health Solutions, Inc.
Represented JP Morgan Chase Bank as lead arranger and administrative agent in credit facilities for Medco Health Solutions in its $1.25 billion acquisition of Accredo Health, Inc.
JPMorgan Chase Bank, N.A.
Financing for Medco Health Solutions, Inc.
Represented JPMorgan Chase Bank, N.A., Goldman Sachs & Co., and Citi, as lead arrangers, in the $1.15 billion financing for Medco Health Solutions, Inc.
Citi; JP Morgan Chase Bank
Credit Facility for Amkor Technology, Inc.
Represented Citi, as lead arranger and administrative agent, in the $650 million credit facility for Amkor Technology, Inc.
Citi; Merrill Lynch, Pierce, Fenner & Smith Incorporated; JPMorgan Chase Bank
Financing for Amkor Technology, Inc.
Represented Citi and JPMorgan Chase, as joint lead arrangers, in a $300 million financing for Amkor Technology, Inc
http://weilwc.staged.hubbardone.com/practiceareas/Transactions.aspx?service=1930
GGC nice uptrend last 6 months
Change command to common.
This is not criminal court. That will come later if proven.
The Hearing begins at 2:00PM EST
I hope your right.eom
Read pg 67. Therefore, the Court concludes that the releases given by the Debtors to JPMC, the FDIC, and WMB are reasonable.
From Mary
The sealed documents are probably communications between Quinn Emanuel and WMI regarding the liklihood of recovery in the litigation against JPM and the FDIC...and based on the way the debtors have acted, QE apparently thought the chances were pretty good. Hoffman wanted to unseal those documents and make them public and the court wanted to know 'why?' If the documents are unsealed, it would potentially be damaging to subsequent litigation against JPM and the FDIC...if the POR is not confirmed and the debtors (or their replacements) move forward with the litigation. If the documents ARE unsealed, it would make public that the settlement of the litigation in the POR was ill-considered...for the public...but would not have any effect on the court's pending decision on the POR confirmation. Therefore, the court's question was pertinent. Hoffman wanted the documents unsealed to 'blow the lid off' of the back room dealing but that is a PR thing, not a legal thing, and the court tends to ignore the PR stuff.
Side note: Hopefully someone will post the audio of the hearing so we can all hear Rosen losing his cell phone.
Good post from Charline on yahoo
Another Interesting Walrath Plan.... 15-Dec-10 07:42 pm
... that was confirmed. I'm afraid to use Plan Confirmation in the title!! :)
Here's one on Flying J from July that Judge Walrath approved ... but it's a good reorganization. Her words: She's happy to approve this one!!
The article is good because it shows how so many plans now are trying to short so many stakeholders ... think it gives an idea of what the Judge really expects.
=====================================
https://www.downstreamtoday.com/news/art...
Flying J Wins Confirmation of Chapter 11 Reorg Plan
Flying J Inc. Tuesday won court approval of a Chapter 11 plan that means payment in full for creditors from some $2 billion worth of asset sales and leaves equity stake holders with a company valued at $840 million.
Judge Mary Walrath said she would approve the reorganization of one of the country's largest private companies, which grew from a string of four gas stations into a collection of hundreds of truck stop operations as well as an oil refinery and pipeline operation.
"I'm happy to confirm this plan," Walrath said at a hearing in the U.S. Bankruptcy Court in Wilmington, Del.
"This is a throwback," said Flying J attorney David Eaton, describing the company's Chapter 11 case as an old-style reorganization that preserves the business and keeps creditors happy. He's with Kirkland & Ellis LLP. Bills including a $400 million term loan will be paid in full, with interest, from the sale proceeds.
Unlike Flying J's case, many corporate bankruptcies that started during the recession are ending in "a pitched battle over valuation," with those at the bottom of the payment rankings protesting outcomes that leave them with nothing, the attorney said.
This should put a rest to the NOL’s dispute. FDIC31888.pdf
10. Can you provide greater clarity on whether there is a deferred tax asset at the thrif level, and if so, would it pass to the aquier?
Answer: If there is a deferred tax asset at the thrift level, it relates to the entity itself and can not pass in a purchase and assumption transaction to the acquirer.
JPM has excess 27B unliquidated claims against us {pg 4}? What a joke and Rosen knows it! So now Rosen works out a deal with JPM for temporary allowance of 10B single class 12 general unsecured claims for the purpose to vote for POR 6.
This is proof black and white that Rosen is working for JPM. What else does the Judge needs to appoint a trustee to manage the estate?
On May 19, Chase removed all Washington Mutual-originated credit card accounts and
receivables from the Washington Mutual Master Trust. Prior to the removal, a significant number of accounts belonged to those originated by Washington Mutual Bank. Following the removal, the trust is comprised entirely of receivables originated by Chase, which have different performance metrics than the legacy Washington Mutual receivables; specifically, chargeoffs are significantly lower and the monthly payment rate (MPR) is higher than the pre-removal performance.
The following classes of Washington Mutual Master Note Trust were placed on Rating Watch Positive:
--$750,000,000 Class 2006-A2: 'AA-';
--$1,250,000,000 Class 2006-A3: 'AA-';
--$500,000,000 Class 2006-A4: 'AA-';
--$1,100,000,000 Class 2007-A1: 'AA-';
--$875,000,000 Class 2007-A2 'AA-';
--$425,000,000 Class 2007-A4 'AA-';
--$200,000,000 Class 2007-A5 'AA-';
--$300,000,000 Class 2006-M1 'A-';
--$150,000,000 Class 2007-B1 'BBB';
--$200,000,000 Class 2006-C1 'BB+';
--$150,000,000 Class 2006-C2 'BB+';
--$200,000,000 Class 2006-C3 'BB+';
--$125,000,000 Class 2007-C1 'BB+';
--$606,000,000 Class 2005-D2 'B-'.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
http://www.google.com/url?sa=t&source=web&cd=4&ved=0CCkQFjAD&url=http%3A%2F%2Fwww.thefreelibrary.com%2FFitch%2BPlaces%2B14%2BClasses%2Bof%2BWashington%2BMutual%2BMaster%2BNote%2BTrust%2Bon...-a0200805833&ei=J8PmTOXuBcH-8Aa_8sDQCQ&usg=AFQjCNGKewfwnhtoJaivnJ6do9YDr4r_vA
Total for above 6,831,000,000 all for 1.9B
SEC turns a blind eye. OTS succumbs to FDIC demands. FDIC gift your money too JPM.
Shorts and NSS walk away with cash in bank because JPM orchestrated this mess with project west.
Supply and demand on P’s and K’s of WaMu
I recognize that the majority of P’s and K’s are locked up due to voting procedures.
The problem is I bet over 90% of both classes have voted against the POR so their shares will be held until ultimate resolution.
The problem is how do the legal shorts cover and the notorious naked shorts cover without causing a rise in PPS? With few shares obtainable what are the options?
Nice. Do you happen to have a document/link for court date and amount Lehman are seeking for this recovery? TIA.
$500 million of deposits returned to Lehman Brothers Holdings and the share price goes down. Go figure. I hope that the lawyers ask for interest and punitive damages for withholding these funds. Up next JPM for 17B.
Wednesday November 17, 2010, 11:08 am
Corrects first paragraph to show that deposits were seized after, rather than before, Lehman bankruptcy filing
BANGALORE (Reuters) - Bank of America Corp (NYSE:BAC - News) was ordered by a U.S. judge to return $500 million of deposits it seized from Lehman Brothers Holdings Inc (Other OTC:LEHMQ.PK - News) shortly after Lehman's record bankruptcy in September 2008.
According to court papers, Lehman had deposited the money in August 2008 as collateral so Bank of America could continue to honor Lehman's checks at times when no funds were on deposit, effectively extending an unsecured line of credit to Lehman pending the clearance of deposits.
In November 2008, after Lehman went bankrupt, Bank of America seized the money as a set-off against claims it held against Lehman on an unrelated derivative transaction, and then sued to validate the seizure.
"It is difficult to understand how BofA could have thought that taking the money was the right thing to do without first seeking permission from the court," Judge James Peck said.
"The court believes that the actions taken were surprising and, quite frankly, disappointing for a leading financial institution that should care a great deal about its reputation," he said.
A Bank of America spokesman did not immediately return a call seeking comment.
Lehman filed for Chapter 11 two years ago, in the largest-ever U.S. bankruptcy.
British bank Barclays Plc (LSE:BARC.L - News) bought Lehman's main U.S. brokerage business after the bankruptcy filing, and Lehman's other assets are being managed and unwound while operating under bankruptcy protection.
The case is Bank of America NA v. Lehman Brothers Holdings Inc et al, U.S. Bankruptcy Court, Southern District of New York, No. 08-01753. The main bankruptcy case is In re: Lehman Brothers Holdings Inc in the same court, 08-13555.
(Reporting by Santosh Nadgir in Bangalore; Editing by Don Sebastian, Dave Zimmerman)
Highlights of the J.P. Morgan-WaMu Analyst Conference Call Sept 26, 2008
Mortgages? Did you say mortgages? Does that mean losses?: J.P. Morgan is going to inherit $176 billion of the home loans. “We think there are $30.7 billion of remaining losses,” Scharf says. “So as of close, we’re going to take on $176 billion of assets, we’re going to mark them down $29.9 billion, and then we have another almost $1 billion of marks to the other portfolios, so we’re recognizing $31 billion of marks related to the loan portfolios.” If it’s a severe recession, expect $42 billion or so of losses. And if it’s a really severe recession, expect $54 billion of losses, Scharf says.
176B in assets for 1.9B LOL time to pay up JD.
http://blogs.wsj.com/deals/2008/09/26/highlights-of-the-jp-morgan-wamu-conference-call/
Your Post # 252549 Buy the cheapies while you can
LOL great DD you out done yourself!!!!
Chamber conference means anything to you?
Winning cases. Latest News
The Tenth Circuit Court of Appeals has upheld a judgment awarding $16 million plus interest to a class of residential customers in California.
The case, In re Universal Service Fund Telephone Billing Practice Litig., No. 09-3059 (10th Cir. Sept. 20, 2010), arose from AT&T's charging customers more than the company paid into the federal Universal Service Fund. In November 2008, a federal jury in Kansas City, Kansas, found that AT&T breached its Consumer Services Agreement with California wireline customers and awarded class-wide damages.
U.S. District Judge John W. Lungstrum entered judgment on the verdict.
A nationwide class of residential customers previously settled claims against Sprint for $25 million in the case.
Susman Godfrey partners Marc Seltzer and David Orozco, in the firm's Los Angeles office, and Barry Barnett and Warren Burns, in Dallas, led the trial team that secured the verdict. Joe Goldberg, name partner in Freedman Boyd Daniels Goldberg & Cline of Albuquerque, played a major role in the trial. Isaac Diel, of Sharp McQueen in Overland Park, Kansas, acted as local counsel. Stanley & Iola of Dallas and Heins Mills & Olson of Minneapolis served as co-lead counsel with Susman Godfrey.
Mr. Barnett argued for the California class before the Tenth Circuit panel in January 2010.