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Thanks, jovi.
Saw the schedule for the following week, too, after I posted this week's schedule.
On pins and needles today.
Calender for Judge Shelley Chapman
Monday, November 27, 2017
10:00 AM
08-13555-scc Lehman Brothers Holdings Inc. Ch. 11
RMBS Claims Estimation Trial
Tuesday, November 28, 2017
10:00 AM
08-13555-scc Lehman Brothers Holdings Inc. Ch. 11
RMBS Claims Estimation Trial
Wednesday, November 29, 2017
10:00 AM
08-13555-scc Lehman Brothers Holdings Inc. Ch. 11
RMBS Claims Estimation Trial
I'm not trying to inflame anything but, jersey, don't hold back any punches.
Full Monty returns would be great.
However, if you bought a $1000 of Ethereum for $0.50 a piece in 2015, you'd have $952,000 today.
If you were able to get Bitcoin in 2014 at $204, you'd have $39,794 today.
Some on this board are probably making this money somehow.
However, we could do fine and if the cryptocurrency market tanks, I don't know how some investors are going to live with themselves.
No joke.
Beautiful day yesterday for a gourmet buffet with a family I'm fortunate enough to still be invited to for Thanksgiving.
I don't understand the Black Friday stuff that actually started yesterday before Thanksgiving.
But, anyway, hope you're doing well and I hope we get to finish this off with a few shares before they settle it for good.
If they do bring the CTs current, I wonder at what price the shares will trade?
We'll find out!
I hope you keep hammering, jersey!
9 years.
LOL!
cotton,
You say "back interest."
TRuPS are cumulative.
Doesn't that mean something?
Good question and I'm not an accountant or tax attorney.
You might want to consult with them.
I-yearn,
Bid/Ask Price -
K - 0.07/0.39
L - 0.09/0.00
N - 0.066/0.1899
H - 0.0835/0.165
Bid/Ask Volume -
K - 2500/10000
L - 0/10000
N - 5000/10000
H - 5000/10000
L's Price Ask was $0.50 & the Bid Volume was 2500 earlier in the day.
The Buyers are there.
The MM's aren't trading much when they do trade and aren't trading at a very high price.
Tax Reform Vote next week with Congress back in session.
$55B NOLS at 25% Corporate Tax Rate is $13.75B down from $22B at a 40% Corporate Rate but we'll see.
Don't you think there is "conflating" going on, argus?
What is happening in the UK is one thing.
What happens in the US with LBHI & the CTs is another.
LBHI Preferreds for ECAPS is yet another.
What makes you think the LBHI Preferred Substitute Issue is for the CTs?
Cotton's cut & paste must be read carefully because he uses the ECAPs LP docs from their initial placement and they have been re-registered this year and managed by the RSM agreement that is withholding distributions since May 2017.
RSM may be replaced. Maybe the Katz Substitute Preferred motion is part of it.
Hopefully, more will be disclosed this week.
Good luck.
"“Substituted Preferred Stock” is defined as “fully-paid non-cumulative preferred stock issued directly by LBHI bearing a right to dividends calculated in the same manner as the [ECAPS], having no voting rights (except as required by law) and being subject to optional redemption in the same manner as the [ECAPS].” (See § 1 of the Description of the Preferred Securities in each prospectus (the “ECAPS Terms”).) 08-13555-scc Doc 57037 Filed 11/21/17 Entered 11/21/17 18:26:29 Main Document"
RSM filed for an Informal Investment Company ("IIC") last week that seemed to have restricted power IMO because of the priority of the CTs and since a UK entity has failed to purchase the CTs because of the liability going forward some of which is the RMBS $11.4B settlement this week.
So, if we don't have a deal, issue Substituted Preferred Stock.
That is my understanding.
Anyone else have an opinion?
Am I wrong?
RMBS Claims Estimates with Chapped Lips.
Been going since 10:00am est.
Word?
I know, jersey.
At some point, when will the looting stop?
mojo
arg,
While reading this, I believe it would have been very important for LBIE to build a significant position in the CTs after these 8 years.
Was someone thinking at LBIE? Barclays?
JPM & BNYM may not have because they knew exactly what contract they were holding and what deposits they had at their institution.
What say you? The board?
mojo
"Don't Forget Dick Fuld's Record at Lehman" - Bloomberg
Link: https://www.bloomberg.com/view/articles/2017-11-08/don-t-forget-dick-fuld-s-record-at-lehman
Ritholz is writing more about Fuld's comeback with Matrix and not about Lehman re-structuring and moving ahead with tax credits.
mojo
cotton,
Do you have a number for LBH?
Send it to stockmojo9@outlook.com if you do, please.
Not joking about crypto-dipso.
mojo
cotton,
I've been told RSM has been relieved and their duties re-assigned and I've asked for all paperwork.
No paperwork has been received so far.
For the record, I've heard Bitcoin and other currencies have been used to transfer money around any banks.
Any possible transaction for these securities, IMO, should not be done using cryptocurrency.
mojo
Thanks jersey.
Sent pdfs of 14th Distribution Court Motion along with the Court Approval in an e-mail to LBHI just now.
I don't know if the Trustee needs further legal representation at this time or not.
If I get a response I can post for a follow up, I will.
Maybe we'll see Press Releases.
More bad news: Dec 7th was Pearl Harbor and the sinking of the USS Arizona.
Further inflammation.
mojo
I empathize with you in this manner, jersey:
For the Courts to approve the 14th Distribution on December 7th to "ALL" classes of claims yet does not state exactly what claims are to be paid is inflammatory.
And, they haven't explained their omissions.
mojo
e-mailing you jersey.
thanks.
mojo
argus,
Good post.
Amazed nobody has commented yet.
Maybe no one wants to throw gas on the fire.
CS sold inflated claims for $0.35 - $0.39 on the $1.00 to their investors that Lehman and the Courts have rejected in their valuation.
The claims true valuation is closer to the C valuation of $360M out of $2.2B.
The small guys wait while the big guys egregiously file claims.
That's how attorneys are fed.
mojo
It looks like the 12/07/17 is a "go."
C proceeds.
Now, how do we know where it's going?
mojo
Good idea.
If so, viva, what is the basis for the CTs to be reclassified properly as Class 4?
Will a Brokerage Legal Division ask for a Court decision?
mojo
It's been in the prospectus from the beginning.
What hasn't been is the lawyers & administrators who want to redefine gravity every few months since 2012.
mojo
We've been going through these prospectus pay dates since 2008 when the last payment was LEHK I believe.
Clock is ticking.
With all their guarantees and precedents, they've been avoided so far.
What do we need to get them re-instated?
What can we do?
They have money with more settlements coming and our coupons and penalties are re-allocated to other classes.
Same with ECAPS since re-registration in May 2017.
Exactly what are they expecting?
Furthermore, they shouldn't have been paying a dime in taxes since 2008, IMHO.
mojo
Sounds good, jimmyt99.
Just a lot of creep over the last 8 years.
mojo
cotton:
<<Note: The UK Preferred Securities (LP IV and LP V) are junior to LBHI's Preferred Securities.>>
If true and these were re-registered in the UK for eventual distribution, the CTs & the OBS Preferred are expecting.
Literally.
In plain English.
When?
Any time?
mojo
There will be always room for you, jersey!
The old stuff was easier.
Now, they make it so you'll drive it to the shop and pay $200 for a looksee . . .
Let's get it done!
mojo
No problem, jersey.
I can drive but it's my car that's falling apart.
Had to put in a new accelerator pump last week after running diagnostics for an engine light coming on.
I didn't even have the wrench sets to remove the old pump and fasten the new one.
That's what I need: a new Grand Cherokee Limited, Land Rover or BMW.
I wish this was over and we can all get on with our lives.
I might be able to bring in exotic animals to Yiotta from San Simeon to add to the animal population but it depends on marketing.
I think they were up over 100,000 acres in San Simeon. There is a Rancho on the Sea of Cortez on 80,000 acres with a landing strip and marina that might be interested in a deal.
I was also told of potential availability of a large ranching parcel in the Central Valley that was taken back in taxes. Depends a lot on water.
We've done the dilly dilly. We've fought the good fight. We've asked the questions needed to be asked and have assessed what has needed to be assessed.
Is it enough to be re-instated?
They've told us no so far.
mojo
Did you just get back from lunch?
cotton,
If you have income statements on Yiotta. send them to stockmojo9@outlook.com.
Thanks.
Definition of quantum
plural quanta play \'kwän-t?\
1
a :quantity, amount
b :portion, part
c :gross quantity :bulk
2
a :any of the very small increments or parcels into which many forms of energy are subdivided
b :any of the small subdivisions of a quantized physical magnitude (such as magnetic moment)
stox & zulual,
Can anyone post the notice of distribution?
I thought stox was identifying a coupon pay date from the ECAPS prospectus.
All payments have been withheld by LBHI to RSM who will make the distribution to the ECAPS when appropriate.
This has been the case since May when the LPs were re-registered in the UK.
mojo
What would happen with that suit?
They'll hide behind a Judge & Trust Administrator after Marsal stated the case would be over in 2 years.
And, they'll say Dodd Frank wanted us to liquidate everything.
Same with G. W. Bush, H. Paulson & B. Bernanke.
Some of it stands true today in that they wanted to create incentives for a buyer (Barclay's, Stifel, etc.).
But, it turns out it was a political hit job from the get go while they gave billions to their "winners" and Obama waltzed off collecting fees from the banks and never doing the needed reforms in the industry.
Maybe that sounds too political for some.
I agree they haven't observed the definition of an affiliate that created classification misrepresentation and abuse of the 20 Quarter deferment period.
Abuse occurred in the WAMU case where $4B in cash deposits were confiscated by JPM while paying a $1.9B purchase price.
Think about how ridiculous that is.
So, how do they make it right?
They abuse, abuse & abuse.
mojo
joyce,
You posted the political debate video.
For what purpose?
mojo
It wasn't me.
It wasn't Trump.
Restructuring is occurring and can result in a new Company on the market.
So, what did you want to accomplish with the Kasich/Trump video?
mojo
joyceschoice,
30 years ago I was employed in a top Manhattan Real Estate Office 7 blocks down from Trump in Trump Tower, who I personally called about a big deal to renovate in California, my home State.
Lehman was one of the big Investment Banks and Market Makers at the time with Dick Fuld and others in power.
8 years ago, I bought into Lehman Securities as a recovery effort where we were hoping for a change of management as part of restructuring.
2+ years ago, Trump runs for POTUS and I listened to him hammer Kasich who probably had it coming.
Back then, as the case can be now, when top companies needed changes, fines were paid, focus committees studied the problems with recommendations to the Board, and they were made.
The FED & US Treasury weren't in the business of picking winners & losers, guaranteeing billions for the "winners" and besieging the "losers" with accusations of impropriety their "winner" counter-parties were openly practicing themselves in lengthy Chp 7 & 11 Cases.
mojo
67 docs filed today.
Most were transfer orders out of Deutsche to Empyrean LHMN SPV.
Other docs were cancellation orders and a US Bank Letter regarding their MBS Trusts.
Was this expected?
mojo
He's not so bad as opposed to some things that are said by people on this board that aren't true.
mojo