Individual Investor
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.
That would be a great score for the impaired shares.
The unimpaired shares need a sweetener after all this time.
Good luck, highway.
Why wasn't there any mention of the BNYM inaction in the motion?
61197 seems to only be about the Plan Administrator failing to enforce the parity clause of affiliates.
mojo
Yeah, that's it, toogood!
LBHI is the only one with CTs.
You are the only one that knows, toogood.
There's no precedent.
We're ground zero.
How can anyone know but you?
Do you detect sarcasm?
Good! LOL!
I went into professional employment & degree programs and worked & studied in good faith.
Arrangements were made without my consent or knowledge.
When I bought into it amid speculation, they do this fraud for 13 years because they have their reasons hiring total crap with no experience based on there Alma Maters in a fire sale.
It can't be over fast enough even if I am paid.
Isn't Sin City Las Vegas?
Such a miserable bunch of #$$holes . . .
mojo
Until then, what right do they have to lie and defraud, Jersey?
highway,
If the Mavericks were consolidated, we might benefit but I don’t know their structure or composition.
I thought they had a reputation and A&M advised with WGM for LBHI and received Court approvals accordingly but they obfuscate.
I am not the one to say.
I think cotton has been posting a document on them and I will review it tomorrow.
Thanks. mojo
High guy,
Legalese addressing motions for distributions that were not granted.
Now, they are withdrawing.
What do you think?
mojo
"Withdraws Notice of Appeal . . . Denying the Omnibus Objection to Claims . . ."
Docket 61184, August 2, 2021:
"NOTICE OF WITHDRAWAL OF NOTICE OF APPEAL
Notice is hereby given that, pursuant to Federal Rule of Bankruptcy Procedure
8003 and 28 U.S.C. § 158, Lehman Brothers Holdings Inc., as Plan Administrator under the
Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and Its
Affiliated Debtors, hereby withdraws its Notice of Appeal [Docket No. 61167] filed on July 7,
2021, appealing from the Order Denying the Plan Administrators’ Five Hundred Nineteenth
Omnibus Objection to Claims (No Liability Claims) [ECF No. 53107] entered on June 23, 2021
[Docket No. 61156], which denied the Plan Administrator’s Five Hundred Nineteenth Omnibus
Objection to Claims (No Liability Claims) [Docket No. 53107].
Dated: August 2, 2021
New York, New York
/s/ Garrett A. Fail
WEIL, GOTSHAL & MANGES LLP
767 Fifth Avenue
New York, New York 10153
Telephone: (212) 310-8000
Facsimile: (212) 310-8007
Garrett A. Fail
(Garrett.Fail@Weil.com)
Attorneys for Lehman Brothers Holdings Inc.
and Certain of Its Affiliates"
Interesting.
I was being polite, Joe.
You had to go there.
You're lucky I respond at all.
I'm free.
mojo
Do you know what 'Global Guarantee' means?
'Quarterly accountability'?
'Five year deferment'?
'Cumulative'?
'Parity'?
'Fraud'?
Where do you think you are going with all of this?
We know when we'll know.
The Estate & Counsel may make decisions after motion decisions & a trading halt or before.
If debtors are signing off on no more interest, than they are on to other things and not a part of all the other parties keeping everything else together with whatever it takes.
Do they have the right to make management and Counsel changes?
Why should I post in response to people I don't understand?
Good luck.
mojo
What is this about?
Wu, Waske & Wosselik have filed motions in Court.
Why does it matter who they are?
Why are you objecting to the Trustee and the Holding Company explaining it to the Judge?
What are we supposed to do now if people can't make objections to misappropriation and fraud in Court?
Are you having a bad day, Joe?
mojo
Or how about paying classes not we’re not guaranteed payment ahead of sub debt?
You should post about the money changers, cotton.
mojo
Right.
So, now that we can invoke scripture, does it excuse fraud for the past 8 years?
Does it now justify a Trustee who didn't enforce prospectus covenants as represented?
Paying off ECAPS ahead of CTs?
Global guarantees being set aside?
mojo
“JS” . . . joestocks, your favorite guy, Jersey.
"Law school cultruptcy?"
AKA, "Crapping on each other's desk and starting in the basement."
After 13 years of it, we might be on the 13th floor . . .
Except for js.
He can't get out of the basement.
Good luck!
mojo
<<This is crazy.>>
Nobody involved in the action with Mr. Wu is crazy at this point.
At the very least, the Trustee can explain their actions to the Judge as well as LBHI, JPM and others settling the Estate.
There have been many attempts to find out how to go about this with all the covenants of the prospectus that you know nothing about or are willing to give credit for, Joe.
Good luck. mojo
Yeah, it does!
I remember Brian Rosen for WGM in the WAMU case being very bad.
They were reprimanded by a Judge for misrepresenting a $4B WAMU deposit as JPM.
Right? Is there anything BK attorneys won't say for their client?
So, how do you buy a Bank with $4B in cash and 2000+ locations for $1.7B?
Assume default rates of 100%?
Chase said they'd make it right.
Still waiting.
mojo
Thank you.
ECAPS cumulative, caughton?
Guthrie.
And, I can make Amarillo by morning.
mojo
Everyone can join the class action or not like they can buy or sell, although maybe not for much longer.
Companies can take whatever messages and also respond to anything they want.
I don't know the purpose of contacting the Company, the Trustee or their Counsel when this is going on as they are shutting down communications as far as I know.
However, people think differently and have different contacts.
I am just managing my time and they know I charge for what I do.
If not, I am a passive investor.
Good luck! rth
Can it be more straightforward?
Send in the info or not?
It is all the OTC "Jack waddely wonkers"!
Half of GS is in there somewhere. Same with MS.
lol
mojo
Look!
We just want the attorneys back in their coffins by sunrise.
We know how this goes . . .
mojo
jersey,
Maybe someday our brokers will tell us why they sat on their thumbs for 13 years and did nothing for CT shareholders.
The class action for negligence is going to SDCNY so our Trustee will have to explain it to a Judge.
Maybe our brokers will have to explain it, too.
Wouldn't that be nice?
mojo
Arg,
Did IndyMac pay?
Former GS Bankers have bought into Banks, get control and haven’t paid them back as far as I know.
I could be wrong.
I am not saying they will be able to avoid it forever.
In our case, the Judge has been granting stays and distributions to everyone except the CTs.
The deferment period is over. ECAPS have distributions as well as Class 6s that aren’t guaranteed payment ahead of sub-debt.
We should be paid, cured and brought current.
Good luck. mojo
Arg,
LBHI, JPM & BNYM have avoided payments so far.
"Are they going to continue avoiding the payments?" is the question.
What more can we do?
Maybe they want RW, JW, et al for some reason. RW is a licensed securities broker and JW is doing his business for compensation.
"Who is paying who for what?", is a good question and I am not provided all the answers to my question and all the necessary information.
What else can I do for you, Arg?
After 13 years, I just want to see it over and settled reasonably.
The biggest and best on the Street have written the prospectus and knew what they were doing; they should honor it.
IMHO. Good luck. mojo
Arg,
The case has always been conflicted. I'm sure you know.
Capital Trust shares, TRUPS, have always had precedents of repayment in the case of BK.
It is the MidAtlantic case and others, I believe.
How do some avoid payment?
I have complied with the requests of our Trustee who is owed another $9B+ in sub debt and wonders, "Why should we meet in required meetings for our sub-debt CTs with guarantees when our other sub-debt isn't paid? How bad is this Black Swan going to get?"
Apparently, they, like JPM, Barclays & C or any other LBHI counter-party or subsidiary, need a Judge to make them. It is the same with WAMU.
mojo
Say they are separate issues like you say, Doc.
Why does it matter to CT shareholders?
We don't care if some of the settlement comes from BNYM for non-performance, JPM or LBHI. That is for a Judge to decide.
It has been 13 years, 8 years over the deferment period with no accounting by LBHI or WGM or BNYM for delays.
At the very least, BNYM can hire someone to explain it to a Judge.
And for those posting they will hold shares and hope for an outcome without joining the suit, why hasn't the settlement occurred earlier?
Are you aware of all that has been done to protect the rights of the CT shareholders and enforce the prospectus without more legal challenges?
What is more time going to do for anyone except for more attorneys fees and fraud against CT shareholders?
Where are you going with this? It boggles the mind.
mojo
Thank you, cotton.
mojo
cotton,
“It is not enough to wish for LBHI to pay us! One has to man up and go to court. “
Evidently, it is the case here.
Many have done everything else possible so to not add to the time and expense but there seems to be no other way.
We have discussed it for years.
I have signed up.
What other recourse do we have as the lines go dead?
Good luck.
They don’t tell me anything about what they are doing and I don’t know who they are working with.
Mojo9
Then it's my way or the highway.
jersey,
We have been hoping to be set free for a long time.
I know a free gmail address doesn't amount to a hill of beans.
Neither does asking for number of shares and when they were bought, IMO.
Enforce the covenants of the prospectus. Period.
Good luck.
mojo
BNYM has another $8.9B in subordinated debt with LBHI other than acting as CT Trustee for the 1.2B debt.
Why did LBHI hire an Electrical Engineer for CFO?
Not even an MFE.
Oh, it’s because JPM and the Greek Bankers are running the ship.
Jersey is hilarious!
LOL!
mojo