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.
Great Post with a lot of DD/critical information that impacts LBHI's (and by extension, the US CTs) path going forward. TIA & GLTU!
Any news about when the LIBOR case is getting closed? TIA & GLTU!
"2. A distribution in respect of the Company’s unsecured, non-preferential subordinated
liabilities in accordance with the Framework Agreement recently entered into by, amongst
others, the Company and LB GP No1 Limited (in liquidation), Lehman Brothers UK Capital
Funding LP, Lehman Brothers UK Capital Funding II LP, Lehman Brothers UK Capital
Funding III LP and LBHI as the holders of relevant subordinated liabilities."
Cotton,
When they are referring to the 'LBHI' 'as the holders of Relevant Subordinated Liabilities', I hope they are not referring to the 'underlying' Notes just pertaining to the ECAPS but also to the ones pertaining to the US CTs. GLTU & GLTA!
"and LBHI as the holders of relevant subordinated liabilities. In accordance
with the Framework Agreement (about which prior notifications have been published on
the website maintained by the Joint Administrators), a total of £187,187,072 is being
distributed in respect of the Company’s unsecured, non-preferential subordinated
liabilities."
Cotton, Thanks very much for sharing the above Communique here with all . Fingers Crossed...Thanks Again GLTU! & GLTA!
Cotton,
Could you please share what the Final outcome was? As far as I recall, GP1 won and we are getting a waterfall of LBHI2's share to LBHI. Also, then we had the 'Secret Agreement", which per my assumption would be paid to "Subordinated Creditors, per contract Guarantee(US CTs)" that the LBHI Legal team was alluding to in the "Secret Agreement" they ironed out leading to the October 9th Final Hearing. TIA & GLTU!!!
Thanks Jersey. Happy Thanksgiving to you & Yours and Everyone here!
May we All Have an Early Christmas Gift!
How 'bout MORe Texian Land...Let's buy it up Before The Stinkin' Californificans do MORe 'Land-grabbin' and 'Ranch Grabbin' in Texas! All these days them Stinkin' ones had a "Look-down-Upon" attitude about Texians and now they want to grab our Texian Lands... 'Splain That!
All my Preferreds and my Commons were re-displayed in my Schwab Accts on transfer of the TDA Accounts (where at least for sometime, my Preferreds and the Commons Escrows had disappeared)...And I did not have to call TDA/Schwab folks to 'give the Hell' to put back my positions...Hopefully this is pointing to positive things happening "behind the Scenes"...
" the 227M will be the last asset to distribute in order to close the POR.".
I like the sound of that! I hope that is what is holding them up from publishing the MOR. Closing the POR is what I have been waiting for and the sooner it happens, the Better, IMHO...
Yes...As you said "wash sale is triggered only if i sell all on nov 30th as well as buy more of the same at lower price by dec 30th"
IF you don't buy anything after you sell on Nov 30th, NO Was Sale triggered, only ordinary Gain/Loss, as the case maybe.
And IF you buy at a lower price by Dec 30th, After you sell on Nov 30th,Wash Sale will be triggered Only for the Quantity that you buy back on/before Dec 30th.
I Really Hope so that we Get that Christmas Gift Long Overdue...IF what you are alluding to does occur, Then IF you are holding nearly equal quantities of different flavors of CTs, the Total Interest Payments in January would be ~2.5X, as that of the one in Dec. 2023. TIA & GLTU!!!
Thankyou. At least you provided a Docket of Motion pertaining to the LIBOR case....Looks like this is still draaaaagging on... Hopefully, this will close before Tax Date 2024 and IF this were 'holding up' our "F&R" promised, we'll see some "F&R" Morsels by Tax Date 2024...
Has the Vaunted "LIBOR Settlement Date" come & Gone and we have nothing to show for it? Sorry, Been too Busy with work and haven't been following the "New Dates" for our "F&R" promised lately...
The FDIC & The FED are in JPMC's/Jamie DEmon's Pocket!
What nonsense from TDA....Predictable from Bozos who don't even know anything about the job they are doing.
Anything that's flowing from UK side has to flow to us through LBHI2 ==> LBHI ==>Us. And BNYM already filed our claims. And if any of us are/were holding our CTs "in the Street Name" ie., held through Brokerage, in this case TDA, then the scoundrels at TDA would be responsible for forwarding our "Interest Payments" to our respective Accounts , against our holdings. Typical nonsense 'Boiler-Plate' answers from Bozos who don't know their job or don't take their Fiduciary Responsibility as 'the Brokerage'. If I do get some information about getting paid for my CTs from LBHI and don't get paid my CT dues, I'll sue BNYM & TDA/Schwab (as 'The Successor')...
Thanks Cotton for sharing your DD.
Years ago, when JPMCB had the "Settlement Agreement" with LBHI regarding the $8.7B it had 'with-held' from LBHI in days leading to the BK Filing, with the Express Purpose of covering its obligations to its customers/Trust Beneficiaries, as the "Guarantee Trustee" of the CTs (and which the Judge agreed with JPMCB's position except for an amount of $700M that she ordered JPMCB give back to LBHI towards settling some other Customers/creditors' claims), I was confident that JPMCB would have to honor the CTs owners' (as the Trusts' 'Beneficiaries) claims.
So, is it your expectation too that the money to pay the Interest/ final 'Principal' + Interest payments the CTs will be done by JPMCB? TIA &GLTU!
I hope so. I 'll check my mail. And talk to my broker. I am not sure why BNYM contacted you other than probably to confirm the address or unless you have CTs in Certificate form. Are you holding some of your CTs in Certificate form and not in the Street Name?
I have all of mine in the Street name.
Thanks Again for sharing that DD specifying the date / period starting Nov 21, 2023. Hopefully, finally the Stars are lining up for us US CT holders. TIA & GLTU!
Wow. Thanks very much for the Nugget of Information...Really hope we'll hit Paydirt.
Retief Goosen got hit by Lightning on a Golf Course at 18 and he was pretty much burnt naked and his watch melted and imprinted on his wrist. Then lighting hit him four more times in the form of 2 US Open Wins & 2 British Open Wins. My daughter got to caddy Phil Mickelson and Retief Goosen at Shell Open Classic and we saw the 'imprint' on his wrist.
I hope we all get hit by Lightning with the Lehman CTs! TIA & GLTU & GLTA!
Thanks for your response. Are you holding any ECAPS also or just CTs? If it is only CTs, that's sound very hopeful. TIA & GLTU!
Did you get some communication? Could you please provide more color on what you are hinting at? TIA & GLTU!
"I will wait patiently and acquire more shares for pennies".
Really??? And 'Acquire more Shares for Pennies' from where? It's not like your Pap is selling them...
What a Stark Difference in the way they treat Shareholders in the UK vs U The 'Banana Republic' USA...All 'BK Judges' in the US (especially the DE BK Court System) are 'bought and Paid For'...
"I called Doreen today"...
REALLY??? Take a Hike Mr.... I am sick and tired of these Nonsense Claims that DL "Talks to me' because I am 'close to her' and An "Accredited Investor"...Hmm...From whom did we hear that Last Time? Yeah , the Desert Crooner! And we All know Very Well Here how that Turned out for us...
Who 'Administrators' took over? The Hedge Fund Honchos? Then that'll be the Last Nail in our Coffin...
Ever heard of "Bait & Switch"? That's exactly what JPM & Hedge Fund investors did to us Retail...
They will never do that. They didn't even have the Spine to ask questions of MW who they elected as the EC Chairman, when WaMu emerged( I was not yet invested wen that happened, I would never have voted for that Guy to be EC chairman as he had a lot of 'Precedent' history of Ripping off Shareholders to enrich himself).... He either evaded answering Shareholders' questions at that Shareholder meeting or even 'silently' confirmed a lot of misinformation being pushed around by Hedge Funds Honchos at that time...
Just Stop Apologizing for that $nake Hedge Fund $OB, will Ye? Thanks!
I don't know why Vanguard, Fidelity Et Al are getting this valuation while scoundrels at Schwab, Fidelity etc. continue to be in Cahoots with LBHI and 'display' the PPS of CTs at 1000ths of a Penny....The Corruption of the Wall St Banks and their Brokerages has no bounds...Definitely they are acting 'in Concert' to force the clueless Retail to sell off their CTs below a Penny share in Pure Desperation, it looks like...
I would be so Happy to "Saddle Up" and 'ride away' with the GS Capital Trust Shares A La McKenna did...Coincidentally, something to do with McKenna's adventure has been the 'sign' for me about the Lehman Gold...After many unsuccessful attempts for the last 10 years (because I was given a 'sign' that when I finally see that movie "Free", I will hit my Lehman Gold), I finally 'hit Pay Dirt' watching McKenna's adventure 'Free' earlier this year....
Thanks for all your proactive efforts in tracking down these trusts...Perhaps we need to ask DL & CES what they are doing with our TRust Money in the WA state trust...TIA & GLTU!
Maybe they should first go collect all that money they handed out to all the Terrorist countries, LOL...
I am just reporting the News...Don't want to get into Political arguments of what this Fed will do....The Fact is Main Street is suffering due to high Mtg rates and things will only worsen, all Courtesy of the Foolish Fed keeping Interest Rates at Zero for so long and Now they want to 'Act Macho' by senselessly ramping up interest rates to un-precedented levels in a 6-month period...the Fed will be forced to either 'Cut the Rates' or find some other mechanism to bring down the Mtg Rates and save Main St Economy and Regional Banks.
On CNBC last segment with Kelly Evans 1:00 -2:00 PM EST...
The Guest was saying that Fed may now have the GSEs to start buying the MBS's again like in 2007 as the Mtg rates have to be brought down by at least 100 Basis points to avert Recession and Save the Regional Banks and then Evans said that would need the GSEs to be 'Out of Conservatorship' and the Guest Did not Contest that Statement, ie., he was in agreement and going along with with her....
Also, in the same segment, another Guest that appeared before this guest said Fed /UST needs to do a TARP-2 to take off the 'under-water' Treasury Bonds from Regional Banks' books that bought those US Treasuries from the Fed in the First Place because they are 'Required' by the Fed to Buy them!.
GLTA!
Yeah, they don't care...For all I see, they are just 'recovering' for their BIG Bank Client JPMC and so they can take their time.... As far as I can see, we are not in the picture, otherwise they would have informed us, as legally required.
If it was Filed in 2020,Why haven't we received a Penny till today? Because the Assets have been STOLEN/Pilfered away by Hedgies/JPMC via the "Trusts/KKR" with active Execution of the Crime By Billy Kosturos/DL/CES/MW and all our "F&R" promised vanished into thin air with those...
I hope all that you say come to Fruition Soon!
If it were like India, I would be Free to do a 'Dharna' on Christiana Stanton Rd in front of HQ of JPMC Trust Company everyday demanding I be Paid my CTs Money...But Unfortunately in the US, the 'Common Folk' have been 'conditioned' by the "Civilized Lords' of Wall St/GubMent/US Judiciary to 'Keep Quiet" and Take it Up their A$$ when the GubMent/Wall St/Delaware BK "System' Big Bosses perform the Act on the 'Sheeple' Massses....So, UST/GubMent continues to STEAL FnF Profits from Shareholders , Every Qtr, like clockwork in the Guise of "Conservatorship" and so FDIC continues to steal WaMu Pmts from Shareholders every Q, in the guise of 'Conservatorship' to 'Re-Route' them to the Hedge Funds/JPM...And so does LBHI, holding our CT Pmts,"Re-Routing them to God Knows-who....
We( LBHI US CTs) Rank Senior Or 'At Parity' with all other subordinated Capital Trust shares of LBHI/affiliates....BUT the US is a Banana Republic as far as the SEC and US treasury/Fed are concerned while in the UK, their Judiciary and BOE/Chancellor Uphold their Securities' Laws and make sure Justice is done to their Citizens/Legal Residents!
I Know. We Wait for some news from LBHI & JPM either Before or After POR Close...
Please see JWN's Post... The Litigation parties reached a "Settlement Agreement" (Subject to Court Approval) resolving 4 of the 5 outstanding Legal Issues and only Legal Issue #1 will be heard in the Court Hearing starting Oct 9th,2023.
Essentially ECAPS are being paid a substantial amount towards their recovery in 'immediate future', and continuing recoveries, in addition to what they had already received!
"The agreement also makes provision for distributions of approximately £187 million to be made in respect of LBH’s subordinated liabilities in the near future, allowing for such time as is reasonably required to take necessary administrative and practical steps to effect such distributions; and also makes provision for subsequent distributions against subordinated liabilities in due course to the extent that funds become available for that purpose."