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.
real777
relax some people do not understand this complex structure
you are correct
controlled uncontrolled consolidated un-consolidated et. al.
lbhii owns these affiliated companies
they can be uncontrolled i.e. independent board
yet board can be change
unconsolidated to tax/earnings reporting
lbie is own by lbhi
retain capital of lbie is lbhi
the real question is will lhbi be allowed to transfer capital out of these
European and Asian affiliates
imho yes
unless one ask for the actual certificate
all stock/bonds/bills are in street name
one may ask for an actual certificate
however it is not done any more
the brokerage maintains the individual owner ship thru their records
so your personal your 401 your retirement trust your 501 et. al.
investments are all kept in street name
the brokerage firm assigns you ownership thru their records not the companies
Bonds 10 b are in street name Bank of NY
CTs are in street name your brokerage
your individual holdings are assign to you by the brokerage
esc tag is when the the total issue stops trading ie P prefer
this is then transfer to DST that keeps track of each
brokerage holdings
DST does not have individual holdings unless one personal
file a certificate with them
Wamu in reorganization one was ask to grant personal release
to JPM the DST would then hold your individual holdings
My Mom would tell you do not try to out Ponzi Ponzi
swag with a kiss
all of this is first held in street name not individual
individual name flows thru street
let everything sit where it is
do not move this stuff around
keep it simple
it this hits one does not want multiple account brokerage complications
jersey yes
I was using different computer did not pick the name
strange
I really think that the computer knows "it is Me" then starts to fool around
look mor is excellent
in spite of the Lehman fog
here's question to ponder
what are the parameters that affiliates return cash/profits ?
remember most/all are out of Bk
plus lhbi is a ch 11 not ch 7
swag
traded shares is a death estate trade
just clearing old accounts
jany spike imho is movement
from one hand to another creating tax loss
plus placing shares in lower tax account
Merry Christmas
unaffiliated with Lehman is for tax, corporate, regional purposes
lbei shareholders are lbhi and lbhi2
lhbi owns lbie yet it is unaffiliated
most of these subs are 100% owned by lbhi and lbhi2 and /or another Lehman sub
it is all in the family
lbhi turns capture 7 they must sell their interest in unaffiliated sub
so don't worry lhbi will emerge strong
Imho
payment is only for ECAPS not for US Cts
When Lbie is fully out of administration cash surplus may eventually be transfer to lbhi 2 and lbhi
However this may not be a "given" since cash movement may be restricted by UK
payment for the US Cts will only be made upon emergence from bk by LHBI in the US
as a "going" concern
Jersey when this started I was not old enough to collect social security/ medicare
now I'm closer to 80 than 70
imho
affiliates are ongoing businesses not bk chap. 7
a few are out of bk all together
they are not in consolidated balance sheet of lhbi
lhbi ~ 225 m seems to be relatively stable
with receivables pending
lhbi chap 11 can end at any time w/o total release of funds
my take
a swag
arrange trades between a single entity
for tax or nefarious purposes
tax position A holds large tax loss
position B holds Cts with possible large gain
Nefarious position A is selective partners
position B holds Cts
the news from UK is very positive
This is positive for all classes.
The timing is ???
Check the tape with bids for Cts
I'll only reply once
you my dear are an ass
LBIE/ LBHI
There is only one shareholder in lbie……..lbhi
The proceeding in UK this October will pay Class 10 A both principal, dividends
Plus accrued interest
This will allow payment to Class 10 B & C
With this payment there is still several billion £ left over in LBIE
This is being invested
Both LBHI and LBIE are set to be release from bk administration
Imho a swag
LHBI will restructure
CT’s pay in full with dividends plus accrued interest then recalled
One Common share restructure for prefer and commons
Both LBHI and LBIE are making good money
relax
things look very promising
hard eight is coming one four already in hand
recent large trades
no proof no insight just a swag
these trades are in-house for the best tax treatment
when the "cash" starts in appear
use AI
bard Google AI
search
LBHI
not LBI
Wamu
Bard of this is AI opinion nothing more nothing less
Wamu has already re org TO Coop
there will be further disbursements imho
LHBI will reorg
the one share will be re-issue into many
Ct's imho will get paid
problem is WHEN
that I don't know
A SWAG
any crazy news will hit tape on late Friday
or 6 am Monday
suggestion
ai lbhi not lbi
you will get another answer
LHBI AI from Bard
The LHBI settlement progress is still ongoing as of August 14, 2023. The parties have been meeting regularly to discuss the terms of the settlement, and they have made some progress. However, there are still some key issues that need to be resolved.
One of the biggest challenges is the amount of money that will be paid to the victims. The LHBI victims are seeking billions of dollars in damages, but the LHBI defendants are only willing to pay a fraction of that amount. The parties are still negotiating this issue, and it is not clear when they will reach an agreement.
Another challenge is the structure of the settlement. The LHBI victims want to create a trust fund that will provide compensation to the victims for the rest of their lives. The LHBI defendants are open to this idea, but they want to limit the amount of money that will be paid out from the trust fund. The parties are still discussing this issue, and it is not clear when they will reach an agreement.
Despite the challenges, the parties are hopeful that they will be able to reach a settlement soon. They believe that a settlement is the best way to resolve the LHBI litigation and provide compensation to the victims.
Here are some additional details about the LHBI settlement progress:
The settlement talks are being mediated by retired federal judge Edward Korman.
The LHBI defendants include LHBI, its parent company, and several of its former executives.
The LHBI victims are represented by a group of law firms.
The settlement talks are confidential, so it is difficult to know exactly what is being discussed.
However, it is clear that the parties are facing some difficult challenges.
The LHBI settlement is a complex case, and it may take some time to reach an agreement.
However, the parties are hopeful that they will be able to reach a settlement soon.
run AI opinion
It's Google's AI.
https://bard.google.com/
I asked Bard:
The FDIC is suing banks in the British Banking Association and other banks for $400 billion for illegally manipulating the LIBOR interest rates in the past. $300 billion of the $400 billion is on behalf of Washington Mutual Bank. They seem to be getting close to a settlement for billions. Do you know when to expect it?
interesting
Bard drafted three different (but similar) responses:
Draft 1
The FDIC is indeed suing banks in the British Banking Association and other banks for $400 billion for illegally manipulating the LIBOR interest rates in the past. The $300 billion of the $400 billion is on behalf of Washington Mutual Bank. The FDIC and the banks have been in settlement talks for several years, and it seems that they are getting close to a deal. However, it is difficult to say exactly when a settlement will be reached. The FDIC has said that it is "hopeful" that a settlement can be reached in 2023, but it is possible that the talks could drag on longer.
In 2022, the FDIC announced that it had reached a $2 billion settlement with Barclays Bank over the LIBOR scandal. This was the first major settlement in the case, and it is a sign that the FDIC is willing to take on the banks in court. The settlement with Barclays is likely to give the FDIC more leverage in its negotiations with the other banks.
It is also worth noting that the LIBOR scandal is still under investigation by the Department of Justice. If the DOJ brings criminal charges against any of the banks, this could further complicate the settlement talks.
Overall, it is still too early to say when a settlement will be reached in the FDIC's LIBOR lawsuit. However, the fact that the FDIC and the banks are in settlement talks is a positive sign. It is also worth noting that the DOJ's investigation is ongoing, and this could further complicate the talks.
Draft 2
The FDIC is indeed suing banks in the British Banking Association and other banks for $400 billion for illegally manipulating the LIBOR interest rates in the past. The $300 billion of the $400 billion is on behalf of Washington Mutual Bank. The FDIC and the banks have been in negotiations for a settlement for several years, and it seems like they are getting close to an agreement. However, it is difficult to say exactly when a settlement will be reached.
In January 2023, the FDIC filed a motion in federal court asking for a preliminary injunction to prevent the banks from destroying evidence related to the LIBOR manipulation case. The FDIC argued that the banks were in the process of destroying evidence that could be used in the case, and that this would prejudice the FDIC's ability to recover damages. The court granted the FDIC's motion, and the banks have been ordered to preserve all evidence related to the case.
In April 2023, the FDIC and the banks held a mediation hearing in an attempt to reach a settlement. The mediation was unsuccessful, but the two sides did make some progress in negotiations. The FDIC is now in the process of drafting a settlement proposal, and the banks are reviewing it. It is possible that a settlement could be reached in the coming months, but it is also possible that the case will go to trial.
The LIBOR scandal is a complex case, and it is difficult to say exactly when a settlement will be reached. However, the FDIC and the banks seem to be making progress in negotiations, and it is possible that a settlement could be reached in the coming months.
Draft 3
The FDIC is indeed suing banks in the British Banking Association and other banks for $400 billion for illegally manipulating the LIBOR interest rates in the past. The $300 billion of the $400 billion is on behalf of Washington Mutual Bank. The FDIC and the banks have been in settlement talks for several years, and it seems like they are getting close to a deal. However, it is difficult to say when a settlement will be reached. It could be any time in the next few months, or it could take longer.
In April 2023, the FDIC filed a motion in federal court asking for permission to approve a settlement with the banks for $2.7 billion. The settlement would resolve the FDIC's claims that the banks engaged in a scheme to manipulate LIBOR rates between 2005 and 2010. The banks have not yet agreed to the settlement, but they are reportedly considering it.
It is possible that the FDIC and the banks will reach a settlement for more than $2.7 billion. The FDIC has said that it is seeking a settlement that is fair to Washington Mutual Bank's creditors and shareholders. The banks may be willing to pay more than $2.7 billion in order to avoid a protracted legal battle.
It is also possible that the FDIC and the banks will not reach a settlement at all. The banks may continue to deny that they engaged in any wrongdoing, and they may be willing to take their chances in court. The FDIC may also decide to take its case to trial, if it believes that it has a strong case.
Only time will tell when a settlement will be reached in the FDIC's LIBOR lawsuit. However, it seems like the parties are getting close to a deal, and it is possible that a settlement could be announced in the next few months.
post from a private WMI board
if this hits
white tie, private tables, RFB
the spike in vol.
my guess
pessimistic
someone died and his accounts were being clean for estate
optimistic
move of shares to tax defer account expecting positive outcome
6-4-10-4 parley pays 50 to one
edbk46
swag
no new info thoughts with prejudice
lbhi lbhi2 are the owners of lbie
lbhi 2 owning the prefer shares allows
dividend that is received to be tax at !5%
so 85% is tax free
when LBIE is independent dividends will be declare
trading today
H decent 50 K +
both L and H closed at .05 after hours
now N,L,H are at.05
now
25 horn high yo 10 each high low
.......coming out
edbk46
Bank problem is moving along
Israel and UK are protesting their companies
Basic problem is corporate deposits
Local Walmart Walgreens how much balance 8s needed to function payroll
Etc I am sure the local car dealer attorney trust funds are greater than 250k
You will nor have an economy if everyone's checking account goes under
from WSJ
Silvergate on Wednesday said it would liquidate “in light of recent industry and regulatory developments.” Its crypto ties may have made it too politically toxic for another bank to take over. While regulators will surely flog Silvergate’s failure as a warning not to serve the crypto industry, its concentrated deposit base was the main cause of its demise.
a tangle web
swag
no one is now going to release cash long term capital
the "shared structure loan" like the "Mortgage Back Security" can bite
a group of banks
if this becomes 08 the canary is the yield on 3 day t bill if it drops to<1 or negative
systematic trouble maybe on the horizon
Bitcoin loans are the major underlying problem
everything will stay "pat" until this is over
a swag
lhbi
at the end of this bk lhbi will cease to exist
new company will be form and new stock issue
wealth of lhbi is off book in mbs trusts
lbei has only two shareholders lhbi and lhbi2
a swag on LHBI
no proof no sources just a swag
Lehman will be an ongoing corp
LBIE is ongoing at present but not yet "free'
problem is UK and EU will not let capital leave
they will stretch out all proceedings
LHBI definitely wants to "get even" with a few people
not thru Libor but as a going concern
There cash flow is still decent from uncontrolled affiliates
they are not hemorrhaging cash
crown jewel is in RBMS .....their percentage
The balance sheet is trim yet the off balance plus restructure
is juicy
US politics is still in the way. So the legal system will be stretch
Now if you don't think that macro events can influence outcome
out at recent events and sentences
Jersey you and I may be pushing up daisies before his is settle
Stealing the assets by prolong delay instead of simple confiscation
TIME Place Purpose
Purpose reorganization
Place Lehman
Time problem
happy new year
take care everyone
LBIE initially had 9 billion £
The UK and EU will not let any free capital leave.
Unique law suites are whittling this down and down and down
This is like the old literacy test to vote
What is it saying?...........NO Money for the Yanks
stock
you are correct
Wmi was sacrifice to help/preserve JPM
Paulson if it came to GS v LEH was a GS
AIG escape since no had enough cash to buy
it's Asian business esp life insurance
If I was in charge in 08 I would have done the same
It is the hold v a part one protects the whole
that's why we amputate a limb
Now remember capital v cash
England Europe is a mess do not expect any capital/cash from lbie
The pound euro has enough capital loss already
ie currency
LBHI is slowly coming around the capital is hidden in the MBS trusts
yes like WMI I do not think the FED FDIC will allow distribution at this time
now rules can change look at what they are doing to individuals
Bannon convicted contempt of congress
sentence
Holder Lerner Reno and list could go on
on trial nothing but the old Irish Italian salute
so Toogood yes this happens and always will
whole v part pick the whole
lbie today
a swag
everything will be "on hold" in UK
They will not allow release
There is a capital/cash crisis.
No free movement of any excess capital
edbk46
Nomura
imho
per another board
https://www.nomuraholdings.com/news/nr/europe/20081006/20081006_a.html
this occur in Oct. 2008
Nomura to Close Acquisition of Lehman Brothers' Europe and Middle East Investment Banking and Equities Businesses on October 13
London, 6 October 2008 – Nomura, the pre-eminent Asia-based investment bank, today announced that the conditions to closing the acquisition of Lehman Brothers' investment banking and equities businesses in Europe and the Middle East had been met. The deal will become legally effective on Monday, 13 October.
The transaction represents a significant step for Nomura in its strategy to accelerate growth across international markets and follows the company's acquisition of Lehman Brothers' Asian franchise last week.
Nomura also announced that the vast majority of the top bankers from the businesses acquired in Europe and the Middle East have accepted positions with Nomura. Lehman Brothers' equities and investment banking businesses in Europe and the Middle East employed around 2500 staff, of whom a significant proportion are expected to be retained.
"This transaction, achieved in a very short period of time, is transformational for Nomura. We've moved with speed to bring it to a close so that business can be resumed without delay," said Sadeq Sayeed, Chief Executive of the acquired businesses in Europe and the Middle East.
"By securing the support of all the staff who have agreed to join, we have generated significant momentum in our efforts to get the businesses up and running under the Nomura name. We look forward to working alongside them to build a world class business."
Ends
like Barclays it bought a few certain ?european businesses
imho
lbi v lhbi
the bk closure is for lbi
not lhbi
lhbi is where the one share is
lbi is about sipa this is the trustee , bk closure
cold water
imho
closure of bk and release of Trustee
appears to be LBI
NOT LBHI
oh well back to the drawing board
thanks jw
in my reviewed of dockets
relax
a swag
everything will work out
one good thing most of us can't lose anything
so relax let this play out
interesting
Tako11 there is no short open interest position on any of the CTs
less than a few hundred shares meaning they are worth something
last report 7/2022
European position is positive and will be a going concern
American position is positive with a cash flow every report cash is coming in
It too will be a going concern
Gambler comes to mind
"don't count your money sitting at the table plenty time to count when deal is done"
plus advice
if this does turn into a wildcat gusher...keep your mouth shut
remember in ac with "grey" chips just take the benji's wrap don't count
suggestion look up
"off balance sheet"
Lehman continues to generate cash and cash and cash and cash
with no end in sight
strange bk when the court does not appoint a formal outside trustee
lbie never was really in bk in parlance just call it bk protection
until "things gets straighten out"
there are a simple terms "off balance sheet", "non-controlled entity"
trusts etc
IMHO
their maybe/is endless money coming into Lehman
Lehman never weas "broke" this bk was a cash flow capital ratio problem
Lehman has multiple, multiple, multiple corps trusts etc
Two previous assets Formula one racing plus Shares in the Federal Reserve
Did they sell all still hold a piece
one runs into private paternships of citicorp etc
Only the Royal Family and the Vatican have more hidden assets
now a swag
Lehman is upset for 08
they will get revenge
edbk46
Jersey
check email
edbk46
July 25
This week look for:
LBIE should be an independent concern
or announcement of extension of bk
edbk46