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And, what does a Suckow do but loot?
Good luck
jers,
Like I'm the only one slamming my 4!ck on the table about the looting scumbags?
Dickenson is Duckingson with pup now.
Behnke is bunkey.
Mcleod is Mcmouse in transit.
M. Ree will put her head around my posts and talk to spread the gospel of tofu.
So inept.
mojostradamus
What is going to get worse?
How can it get any worse for CT shareholders?
We're lied to every way possible.
mojo
All I said was 4.5 years past the agreed 20 Qtr deferment.
You're right it is BS but there is a basis for complaints.
To say suits can be dismissed so easily isn't satisfactory to me after this amount of time even if it is possible.
So much BS!
Screwing with people's lives.
mojo
Many other opportunities could have been pursued including matching distributions with the Debtors until the business was lean and suitably re-structured.
The Capital Trust prospectus has been violated since the shares have not been re-instated after 20 Quarter deferment period.
IMHO, A&M have defamed Lehman paying off consultants and attorneys to create narratives and egregious valuations to loot Lehman.
They should be sued.
mojo
Just re-instate & pay the CTs.
wayne,
I'm not a corporate tax accountant or tax attorney.
I've computed the $55B as the amount of income that can be sheltered from tax not duration of free tax until 2028.
Please check your messaging. I understand there may be different ways to apply the NOL tax credits but your messages are unclear.
Good luck.
mojo
Lin,
That has been true since 2008 when Corporate rates were 39.6%.
$55B x 39.6% = $21.78B
After recent Tax Reform, the value is closer to $11.55B or $5.89B as the creditors 51% share.
DIP LBHI has been looted while offering these CT shares with post-BK guarantees written into the prospectus for almost 10 years without any matching re-payment or recovery program with the Debtors.
A&M is leaving after the wind down & looting.
IMO, the CTs should be re-instated with the LBH UK subsidiary to operate while the LBH UK subsidiary is held harmless and the rest of LBHI can be wound down and fired.
Any further operations can be run out of the UK as far as I'm concerned.
mojo
Joe sounds like one of the looters at LBHI or A&M.
They should be sued.
In fact, they want us to get attorneys.
Why not?
mojo
cotton,
<<The ECAPS may suck up a ton of cash from LBHI's creditors or fund LBHI's Plan Trust for equity holders!>>
Will the CTs go by way of LBH UK?
The problem will be LBHI recourse as the parent unless they agree to let LBH UK assume the Capital Trust with the subordinated debt and hold it harmless for any further claims.
All remaining litigation, including RMBS & Credit Suisse litigation.
Wouldn't that be some fresh air?
They may even contribute a nominal amount to help re-instate the CTs and "bow out" of all UK operations.
I hope they do. The DIP operations of LBHI have proved to be nothing but liquidating looters as a Chp 11 that was supposed to be for re-organization.
Otherwise, I doubt the UK LBH will go along and there will continue to be fights in the Courts.
mojo
That was an excuse to loot, wasn't it?
They said it would turn around by 2010.
Then, the attorneys came out with a plan that was assumed to be rejected by the equity holders and liquidated not only the LBI Chp 7 but everything they could under the LBHI Chp 11 to all their friends.
Did they ask for a $1 for $1 debt write-off from debtors for every $1 of debt principal they re-paid as they looted the assets?
Did they use the $55B in NOLs?
So, why do the CTs keep trading after all these years?
Whisper, please.
CT's promise are a whisper.
Fragile.
Hook, line and sinker . . .
Something's fishy, mate.
And, what were the Lehman Debtors offering to re-capitalize Lehman's position?
Were they picking at the boneyard?
mojostradamus
I know, stox.
It's a War Path.
mojostradamus
It looks like LBHI & LBIE need the NOLs at the new tax rates to kick in.
There is likely not going to be another tax cut in a long time.
Re-instate CTs and they can use them.
mojo
And, he's in TX.
And, that's it, too, jersey!
Nothing gets past you.
We did our due dilly.
We're honest.
Yet, some hedgie a_hole who wants to ruin his ex-wife to start a new Company based on a Lehman payout is holding this up.
I don't know.
It should have been done years ago.
mojostradamus
Exactly!
Dropped Peters rank.
He voted crappy anyway.
mojostradamus
It was a 20 Quarter deferment, Argus, and it's getting up to 38 now.
What a_holes!
To quote Col. Ralph Peters, ". . . (they) are such total pu__ies, it's stunning!"
mojo
ECB is looking to buy bonds.
Not clear if they're Municipal or Corporate.
It would be nice if Lehman had something they'd call.
mojo
Micmac paddy whack give the dog a bone?
What is Micmac?
mojo
cotton,
"Docket 53097 - ECAPS allowed claims approved for four individuals on June 22, 2016.
LBHI's TRuPS total principal = $ 1.2 Billion
UK ECAPS total principal = $ 2.051 Billion
(BP to US = 1.3201)
Total = $3.251 Billion"
At new 21% Corporate Tax Rate, new NOL liquidation computation:
$55B x .21 = $11.55B x 51% = $5.89B > $3.251B
Looks like we're covered if LBHI insists they have "no reason" to go forward.
And, CTs have priority over ECAPS Notes.
Furthermore, bonds will be written off unless an agreement is made.
Thanks cotton!
mojostradamus
What is starting to make me sick about LBHI is some of the officers who don't forward telephone calls or e-mails to be returned nor don't return calls or e-mail personally and make no effort but to loot the Estate during the time they are employed.
Some of them are completely dirt and should be removed.
mojo
Whatever . . .
It would trade on the fritz.
No offense #603.
mojostradomus
Silicon Valley Indian Professionals Association?
2020?
Why not?
Marsal said within 2 years in 2009.
The prospectus includes 20 quarters of deferred payment periods so that would have meant 2013 if anyone was counting.
Why not 2020?
I mean who the hell knows when and how much?
People would rather chase Bitcoin up & down now after creating a $300B market in a coin program and then say the market for it is the Communist Countries who's populations are trying to export any wealth out of the Country.
Like that's not going to create some International conflict.
Good luck posting today.
When it's fit for a news release, it will be fit to post.
mojostradamus
cotton,
Have you been hired to create a Russian Dossier by Members of Congress?
mojo
Hair dye?
After 9 years?
For what?
Sounds like a "rare" opportunity!
Good luck!
I can't speak for zu, jersey.
I've checked all my accounts and mine are fine.
There are no notices of any request for additional deposits of any kind.
I just don't know what to say about zuzu's situation but thought wayner posted some good advice.
Is he still in China?
Today is Dec 7, Pearl Harbor Day, the Day the USS Arizona sunk, and like we discussed, it doesn't look like we're being paid diddley do right . . .
- "The Mojo that will live in Infamy"
joey's back in town!
how's your bitcoin doing, joeylicious?
mojostradamus
Just sayin'!
If anyone is planning on calling overseas and is using AT&T, it will likely double your bill with charges for time & taxes . . .
- mojo
Legal representation like that is expensive but if you consider the mischaracterization of "affiliate" status leading to misclassification and misappropriation of the 5 year time frame, the legal representation could sue for more than the full-monty plus damages and maybe we get close to a satisfactory renumeration.
They are pissing off covenants based on an "available funds" clause, paying off debtholders at 100% without any debt re-negotiation, looting assets with their partners, letting us trade for NOLs they won't use until the end and the judge is signing off on it.
Tragic.
I'm a passive investor typically.
What do we need to organize and why?
If necessary, send me any questions to stockmojo9@outlook.com.
Thanks.
"Funds available" for unsecured controlled & non-controlled affiliates but not for CTs.
So, they aren't planning on using NOLs yet.
They continue to LOOT Lehman and DISMISS $1.2B in written prospectus covenants, IMO.
Their breaching continues.
IMO, do not trade Lehman CTs for Bitcoin or cryptocurrency.
2nd post on this.
stox,
They ". . . started re-directing our interest payments to 'higher' classes."
That seems to break the prospectus covenants, doesn't it?
They're cumulative dividend payments due.
Why didn't they keep to the 20 quarter time table?
How much longer do they use the CFPB to ruin the Lehman name?
Why haven't the debtholders agreed to matching principal deductions with principal distributions from the Lehman Estate?
How much more RMBS exposure is there and why?
Thinking.
What is weird?
Distributions to CTs would be the deferred coupon payments that have been reallocated to other classes under the Plan Trust Agreement.
So, I called them reallocated coupon payment.
What is weird about that?
Wayne, have you returned from China?
What's the difference between "deferred interest for 20 Quarters" as written in the prospectus and re-allocating coupon payments to other classes?
Our issue has been to be re-instated with cumulative coupons after the 20 Quarters as written in the prospectus.
It has been 36 Quarters.
Obama used CFPB & Dodd-Frank to fine the banks $18B when there should have been other reforms.
They didn't while giving up on M&A with other institutions, liquidating assets to their friends and letting the CTs trade.
So, how are they going to cure it now?