I will second that about Jersey!

Nice way to reference quantum mechanics and Heisenberg!

That's one thing common between the Lehman brothers BK case and quantum mechanics. No one really understands it.

You are correct, Ron! Everything you stated in this post.

Heheheh..wishful thinking there stox.. we are still under the rules of the POR. That needs to go away and like others have pointed our, it seems like it's going to be sometime in 2025. And until we get there, there is always something around the corner according to some posters. And once we do get there, there is a delay because of something new that came up. This has been the story for the past decade or more so, smoke your pipe, drink your scotch and let the game play out the way it needs to.

At this point in space time, I am here to enjoy the game!

Heheheh..wishful thinking there stox.. we are still under the rules of the POR. That needs to go away and like others have pointed our, it seems like it's going to be sometime in 2025. And until we get there, there is always something around the corner according to some posters. And once we do get there, there is a delay because of something new that came up. This has been the story for the past decade or more so, smoke your pipe, drink your scotch and let the game play out the way it needs to.

At this point in space time, I am here to enjoy the game!

Bluebird, you brought back some tough memories. I remember playing Chemtura and buying up thousands of shares at maybe a couple of dimes. Sold it for a 300% profit thinking I did a smart trade and well within a dollar. But then, I kept watching it go up to the high 20s. I could have retired early if I I had timed that trade well. Oh well :)

It's just the default divi calculation based on the number of cap trust shares you have. It doesn't mean anything when Schwab tells you that. They are just going by what the cap trusts should be paying. But we all know they are not paying under the BK. I asked this question when my TD got moved to Schwab and this board discussed and put the matter to rest.

Those Schwab predictions for the n3xt 12 months mean nothing so no one get their hopes up..yet.

But, the end is nigh..

Cotton,

I respect everything you bring to the table here but this concept of owing interest on past dividends is a little far fetched in my humble opinion.

Technically, as per the POR, we are being paid our dividends but they are being reallocated to satisfy the senior creditors.

So, after the POR closes, the dividends that is being paid to us will finally start hitting our accounts. No back divvies are owed to us and we will most likely not see a dime of any of the past divvies.

We are not going to receive anything under this distribution. Whatever the outcome may be and the path of distribution is decided, our dividend payments are still reallocated to senior creditors as per the POR. That needs to close which means all lawsuits need to close. Expecting another year or so of this juggle until all the lawsuits are done. Then, we come out as a going concern and hopefully the divvies are reinstated which will then help propel the stock back to its FV and maybe, just maybe, slightly beyond. That conclusion is drawn thanks to the DD by Mellon who has convinced me that there are tax advantages to receiving the divvies from LBHI if you live outside Delaware which includes most of us. Imagine getting a quarterly dividend and you don't have to pay taxes on it. Life is good. Am never selling these shares unless the market takes it up to $50/share when the divvies are reinstated but that's just wishful thinking!

I am The Godfather and I approve of this message!

Good one joyce.

Yes, yes, and yes!

Thanks for the PM bluebird. Appreciate the insight.

There are probably a couple of dozen of us that are here on this board that are going to hold on to our shares no matter what. It's going to happen just like that. We wake up to see our accounts blow up and then start the Vegas party planning. Who was talking about twins again? Haha..

True that Jersey! This saga seems to be just around the corner for so many years that I am running around in circles trying to figure out what next. Now, in recent years, I have given up trying to decipher and waiting for things to unfold.

Gives me hope for these Cap Trusts..especially since Mr Mellon made his appearance and is posting his DD and opinions.

Pity I didn't hold on my Wamu cap trusts or any preferred. 2010 was a tough year financially and I liquidated everything then. Definitely will not be giving up my Lehman CTs that easily.

Thank you JW. It was good to read through the links. But the mystery remains as to what happened to Wahuq? Those were the cap trust pref shares and I wonder if they ever got to their FV?

What was the end result for the Wamu cap trust preferred shares? I had some a while ago but got rid of them when it popped a little. So, stopped following that craziness more than a decade ago

That is so strange. I still have my Js in Schwab. Not as much as Jersey but they are still there.

Good response to the agent. Nice work there JW.

Lol. True that but the tide is turning positive with some of the recent news of the estate closing the POR soon and heading towards being a going concern. I need to come out of hibernation and so do the other lurkers.

The one theory that a lot of us have espoused over the years has been that reinstating divvies is the lowest cost to the estate as the market will value the CTs accordingly. In this high interest rate environment, it may not go back up to $25/share but would be close. I don't expect the past divvies to be paid to us since technically, they were paid but rerouted to the senior creditors. I wonder how many CTs are actually owned by the Lehman estate at this point that they could have bought up on the open market over all these years. Is there a way to find this info?

This is just..wonderful to read! Thank you Slim!!

So, this was the FINAL distribution but not really the final distribution? Because there have been distributions since 2021. The end is near..maybe?

Also, I am hopeful of the POR closing soon and looking forward to how it will be set up as a going concern. I am not a big fan of the Crypto theory that some here seem to believe but stranger things have happened. Let's wait and watch. Getting closer to retirement every day so this will be interesting. Maybe this will still be going on even after I retire and I will be posting more lol..

Does otc ever trade on weekends? Or for that matter, any stock?

Or were you talking about yesterday?

Back from hibernation to check what's happening. Something around the corner as always but still nothing? It is still winter? Well, back to my pipe and will start hibernating again.

Like the song goes...wake me up when it's all over..

I know right. That is nice to see. Now, if all these CTs could do that everyday until the end of the year, that will be awesome

Lol..fair enough. How many of those let-downs have we endured over the years? If anything, the Lehman bankruptcy has carved us all into pretty hardened souls. Like George Carlin said 'Inside every cynical person is a disappointed idealist'.

I don't ever recall any docket that was referenced on this board that talked about JPM keeping the money on behalf of the creditors or other subordinated holders. Can you please share a link where any court filing says that? I don't believe that is an accurate statement that JPM would admit in court. If that was the case, the senior creditors would come crawling for it like the crabs at the bottom of the ocean spotting a feast.

Move on newbie. The ones who have been here a while, even if we disagree on certain things, keep it pretty civil and don't make it personal. Are you joestocks? You do sound like him trying to pick a fight with the veterans of this board. I firmly stand behind Jersey and a lot of the other old timers here and personal insults are not a way to learn more about this crazy bankruptcy and its myriad permutations and combinations of possible outcomes, even at this stage of the POR process. If you don't have anything to provide of value in terms of DD, please move on and I wish you the best of luck.

Disappointment comes from having expectations. I have learned my lesson a while ago to not expect any outcome from any court filings or milestones. The POR has to close and that's when I will start expecting something.

All my CTs moved from TDA to Schwab as well including my Js.

The interesting thing is that Schwab actually is predicting I will get a dividend distribution in November based on the number of CTs I own. It's probably an automated error since the dividends are suspended but it is also predicting that I will receive one every quarter for next year too. It will be nice if just the divvies are reinstated!

It's 10% on early withdrawal but you also pay the income taxes for that year depending on the bracket. But will save you from the LTCG at 20% for sure. Thanks bluebird

Makes sense. There is no conspiracy here. Just a glitch.

The UK senior unsubordinated creditors are being made whole. The subordinated creditors are getting a payout. Does anyone know where the CTs rank with all the different subordinated creditors that are out there? Sorry my old brain can't remember these anymore.

As the years go by and I turn from The Godfather to 'Godfather - the Grey' and now I am 'Godfather-the white' and slowly getting to 'Godfather- the bald', the hope still remains that some day these CTs will pay off. But, it seems like the lawyers love their billing rates and the escalation built into them and continue to push this out further and further until there cannot be a whole lot left of the Lehman carcass. It seems like we are getting close to that and the free cash flow is running out. Now, we move to the next step which I believe is key and probably the only way we get paid which is getting out of this mess and making use of the NOLs. Whoever pays Lehman to make use of the NOLs. I believe that payment will flow through to us first before any of the Js or the commons see anything which I don't think will be a whole lot.

If indeed this gets pushed out to 2025 as per certain interpretation of the filings, I will stop by this board again to only see this has been pushed out to 2030 lol!

What a fun ride this has been..hoping and anticipating..and yet, nothing.Probably never but an old man can hope!

Hehehehehehehe..true that!

It is rubble and i hope it stays that way. Putin's actions need to be reflected in economic pain for the Russians or they will never learn. This was was not needed and countless lives could have been saved. Putin is a war criminal and I hope to see that he is actually tried amd convicted in court before his life clock runs out.

Hey, each of my cap trust shares is worth close to a Rouble today.

Out of curiosity Cotton, if you don't mind me asking, how old are you?

Whenever I read your posts, I picture a Gandalf like figure telling me a story.

Also, if you have read LOTR (which I presume you have), the CTs are the one ring to rule them all, it needs to be disposed of in Mt Doom (aka courtroom) so that the next chapter may begin!

We all have experienced it, the potential power of the ring, so let's trust the trustees to do the right thing with the ring!

BTW, hope the flowers are blooming well!!

Jersey,

You understand this since you have been here forever but there is no back interest that will be paid to us. Since many moons ago, the interest is being paid on our CTs but the money is routed to paying off other senior creditors.

So, no back dividends folks, just a settlement price to get rid of the CTs or maybe, just maybe, reinstating the dividends to be paid to the CT holders which will cause the market to take this back up to FV or close.

We all know what the worse case scenario is on the other hand.

Let's wait and watch how this plays out.

Am pretty sure it was a joke. No one is expecting a Christie presidency lol.

That being said, the political news today is interesting indeed.

After that being said was said, I have grown really tired of this BK. Wrote this off in my head a while ago while I still have it in my account.

I want to go back to the dream of waking up one day and seeing my account blow up.

Hope everyone is doing well and life is treating y'all well!

I see it as CLBL in my TDA phone app. They did that a while ago though. I think it's a good sign that's callable.