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Stoxjock - Thank you for bringing the hybrid component of the CT's into this conversation.
It isn't easy being hybrid. If only LBHI CT's were a vehicle of sorts.
Newflow - While its true LBHI emerged from bankruptcy in December 2012, the POR is still in effect. It has been extended repeatedly as you know. The courts and the lawyers are still in control. Unless you know someone with huge legal chops that could be helpful in court, I doubt posters on this board will turn any minds.
I don't closely follow Fannie but I believe it is still in conservatorship and has been much longer than many buyers ever expected. Maybe the world turns more slowly when its been turned upside-down.
Being unhappy with the situation is understandable. Being unkind is not going to solve the problem.
Nellafom - I'm in Toogood's camp. I keep an open mind for the most part and feel a cash payment is an improbable scenario.
I'm happy to be wrong.
GLTU
JHawg - You NEVER thought of that?
That surprises me since you've been here a long time and most other Lehman stocks ~ many that you bought I think ~ did stop trading (OBS).
https://www.scientificamerican.com/article/hybrid-quantum-networking-demonstrated-for-first-time/
https://tinyurl.com/y5g8jj2b
For future reference about light phenomena
JHawg - A wink wink and raise you a smile.
Stoxjock - you appear to be a very trusting soul to appeal for free legal advice from other posters on this board.
~~~ Seek here and ye shall find - something ~~~~~
GLTU
JHawg - Thanks for the laugh.
Sirreal
Still and getting closer to something more certain.
Sidedraft - Maybe this will help. Search for LBHI2 in the document to see if anything about this situation clearer. It's above my paygrade.
Excerpt from Page 19 in doc:
Note 3 – Due from/to Non-Controlled Affiliates (continued)
Joint Venture to Facilitate Resolution of LBIE Claims
On January 31, 2014, Lehman Brothers Holdings Intermediate 2 Ltd. (“LBHI2”), a Non-Controlled Affiliate, LBHI, and Elliott Management Corporation and King Street Capital Management, L.P. (together, the “Funds”) entered into definitive documentation and consummated a joint venture to facilitate the resolution of LBIE claims (the “Joint Venture”):
LBHI2 contributed to the Joint Venture its admitted senior claim of GBP 36.3 million (“Senior Claim”), subordinated claims of GBP 1.24 billion (“Sub Debt”), and an economic interest in its preferred equity (“Preferred Equity”) in LBIE.
The Funds paid approximately GBP 650 million to LBHI2 (by way of a capital contribution to the Joint Venture) and contributed to the Joint Venture the distributions on their claims against LBIE (approximately GBP 2.6 billion face as of January 31, 2014) in excess of the principal amount plus post-administration interest at 8% per year. LBHI2’s final recoveries and distributions will be determined following the resolution of the LBIE estate.
The Joint Venture includes a joint recovery pool governed by a specific sharing formula. Subject to certain adjustments, which could be material, all recoveries from the Sub Debt, Senior Claim, Preferred Equity, and the Funds’ contribution are split as follows:
(a)
100% to the Funds up to the Tier 1 Pool Threshold Amount;
(b)
For recoveries between the Tier 1 Pool Threshold Amount up to the Tier 2 Pool Threshold Amount, 70% to the Funds and 30% to LBHI2;
(c)
For recoveries between the Tier 2 Pool Threshold Amount up to the Tier 3 Pool Threshold Amount, 50% to the Funds and 50% to LBHI2; and
(d)
For recoveries above the Tier 3 Pool Threshold Amount, 25% to the Funds and 75% to LBHI2.
The “Tier 1 Pool Threshold Amount” is GBP 650 million. The “Tier 2 Pool Threshold Amount” is GBP 1.3 billion plus interest calculated at the simple rate of 2.25% from November 30, 2013 through September 3, 2018; thereafter, interest is calculated at
the simple rate of 1.25%. The “Tier 3 Pool Threshold Amount” is GBP 2.2 billion plus interest calculated at the simple rate of 4.25% from November 30, 2013 through September 3, 2018; thereafter, interest is calculated at the simple rate of 2.5%.
A detailed summary of the terms of the parties’ commitments and the Joint Venture is available at www.lehman-docket.com in the Key Documents section.
If LBIE makes distributions on the Preferred Equity before aggregate distributions from the Joint Venture to the Funds and LBHI2 have reached GBP 2.2 billion (plus interest), then, in certain circumstances, LBHI2, Luxembourg Finance S.a.r.l. (“Lux Finance”) and LBHI shall be obligated to make payments to preserve the economic terms of the transaction as if 100% of the Preferred Equity proceeds had been transferred by LBHI2 to the Joint Venture.
Receivables from LBHI2:
SLP3 has receivables from LBHI2, which are contingent on the legal resolution of the relative ranking of sub-debt issued by LBHI2. As a result of estimated distributions to LBHI2 following the court sanction of the scheme of arrangement proposed by LBIE’s joint administrators, the Company has recorded an estimate of the recoveries on SLP3’s $6.139 billion subordinated receivables from LBHI2 (“SLP3 Sub Rec”).
Currently, LBHI is the indirect parent and the beneficiary of any proceeds paid pursuant to the SLP3 Sub Rec.
In addition, the Company has receivables from certain Non-Controlled Affiliates that have claims against LBHI2.
https://www.streetinsider.com/SEC+Filings/Form+8-K+LEHMAN+BROTHERS+HOLDINGS+For%3A+Jan+10/16328139.html
JHawg - No problem. Surprised you replied under those circumstances and understand you need to keep your attention where its needed.
Others may reply or not. I was hoping someone here got lucky or may have an opinion. Time will tell.
JHawg -I provided a time and sales link from FRT. Click on it.
Anyone want to fess up to selling or buying all or part of the 32K of LHHMQ's traded at 2 seconds past the open?
Imagine
Extreme(s)
https://www.thebeatles.com/album/abbey-road
Iconic in its own way
https://www.google.com/search?q=craig+francis+AMA+research+media+LLP&source=lnt&tbs=qdr:y&sa=X&ved=2ahUKEwibhN-NpoTmAhVLZN8KHZfzARAQpwV6BAgLEB0&biw=1242&bih=568
https://www.linkedin.com/company/advance-market-analytics It is what it is. NJ to India
These days truth or dare isn't a hard game. It's a linguistic nerf ball. It not only kills time, it fuels Doc's DeLorean time machine. Maybe Lehman can go back to 2007 or 1947 and get a do-over?
Whats going on today gang?
Dont look like much of anything.
I agree. So pick your favorite story from the news media today and thank the constitution that you have twitterer in chief while FNMA FMCC and LEH are still held hostage.
https://bit.ly/2OuL8sO
JHawg - Wheres our class? Why is our class always missing?
A very good question on several levels.
The best boss in the world. So how many bosses did you have at Goldman?
MAJA Make America Just Again.
BOO! to all thee evolangelicals
AC DC and phucking photons. It's a phucking few inches too long of a read shirley but you can take it.
https://deadline.com/2019/10/alfonso-gomez-rejon-the-current-war-erasing-harvey-weinstein-cut-new-rotten-tomatoes-score-benedict-cumberbatch-michael-shannon-1202760319/
JHawg - Yes I remember when the J's had a short term glitch many many moons ago. I would have to look back through posts to find the dates though.