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👁️ Is heat a form of energy or financial investment? ⚛️. ☢️
BlackRock and Starbucks will merge one day:
We will still be in bankruptcy.
365 days/year × 16 years = 5,840 days
LBHI's Leadership will not bark about the future of this bankruptcy:
Years ago, I delivered about fifteen tons of top soil to a customer's home. When I got out of my dump truck, a dog bite me on the back of my leg. The dog never barked at me. When they do not bark, they will bite. The other day, I was in the woods checking on my horses, the neighbors' dog jumped and started barking at me. Me and the dog slowly retreated.
We do not have a clue about LBHI. PWC will bark and write a report. LBHI will not bark on an Appeal in Court.
Journal of Financial CrisesYale University
EliScholar > JOURNAL-OF-FINANCIAL-CRISES > Vol. 1 (2019) > Iss. 1
The Lehman Brothers Bankruptcy G: The Special Case of Derivatives
Authors
Rosalind Z. Wiggins, Yale School of ManagementFollow
Andrew Metrick, Yale School of ManagementFollow
Document Type
Case Study
Case Series
The Lehman Brothers Bankruptcy
JEL Codes
G01, G28
Abstract
When it filed for bankruptcy protection in September 2008, Lehman Brothers was an active participant in the derivatives market and was party to 906,000 derivative transactions of all types under 6,120 ISDA Master Agreements with an estimated notional value of $35 trillion. The majority of Lehmanās derivatives were bilateral agreements not traded on an exchange but in the over-the-counter (OTC) market. Because derivatives enjoyed an exemption from the automatic stay provisions of the U.S. Bankruptcy Code, parties to Lehmanās derivatives could seek resolution and self-protection without the guidance and restraint of the bankruptcy court. The rush of counterparties to novate Lehmanās derivative contracts and the confusion following contracts that were terminated after its bankruptcy filing added to the stress of the financial crisis in two ways: (1) loss of value to the Lehman estate and (2) exacerbation of the contagion effects of the bankruptcy. This case explores the disposition of Lehmanās derivatives and its impacts.
Recommended Citation
Wiggins, Rosalind Z. and Metrick, Andrew (2019) "The Lehman Brothers Bankruptcy G: The Special Case of Derivatives," Journal of Financial Crises: Vol. 1 : Iss. 1, 151-171.
Available at: https://elischolar.library.yale.edu/journal-of-financial-crises/vol1/iss1/8
Date Revised
2019-03-20
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🇱🇷until 15 December 2024, in any circumstances;🇱🇷
September 15, 2008 Bankruptcy Filed
September 15, 2009
September 15, 2010
December 6, 2011 Plan Confirmation
April 17, 2012 First Distribution
September 15, 2013
September 15, 2014
September 15, 2015
September 15, 2016
September 15, 2017
September 15, 2018
September 15, 2019
December 1, 2020 Plan Extension
September 15, 2021
September 15, 2022
September 15, 2023
September 15, 2024 Crazy World Now...
🆘 🆘 🆘 Your Cash paydays Started in 2012!
Cripple-Toe should use these recently found coins in Turkey to solve their problems via good Foreign Policy Initiatives:
🐄🐂🐻No one controls the inflow and outflow of Cripple-Toe. Milk those cows and bulls and bears with Cripple-Toe. Big money is always the winner. You got yourself a high tech Ranch.
Sir, take as much time as you need to successfully complete Lehman Brothers' Business. Just do not ever pay me with Cripple-Toe or Crypto money. I can barely walk today without thinking about all those rollercoaster coins. Dollars will be just fine.
Updated - 🛑 🛑 🛑 Reality: Like it or not, only one home grown person can aid Lehman Brothers and negotiate WW III now or next year.
Show me our cash now! Take this Lehman Brothers' train off the railroad tracks, this year and run for the hills. United States' Foreign Policy is really foreign to the real Americans. Very similar to Subordinated Creditors' Cash in this Bankruptcy. YAWHO?
LBHI and its controlled and non-controlled Subsidiaries/Affiliates are a team.
LBIE:
Category Description of tasks
Cashiers and treasury
This is an essential function
for the management of
funds held by the
Administrators on behalf of
the Company. The
Administratorsā treasury
and cash management
teams monitor and control
the movement of funds,
mitigate risk and seek to
maximise the interest made
on investments for the
benefit of the Companyās
creditors.
? Managed the funds held by the Administrators, to ensure optimal level of funds held
on deposit within risk policy;
? Monitored and controlled the movement of funds, mitigated risk and maximised the
interest made on investments;
? Performed regular bank reconciliations for all bank accounts; and
? Carried out daily monitoring and processing of cash receipts and payments and
notification of movements to the Core Team.
Tax and VAT
Work reported in this
category includes
compliance with tax
legislation under the
Administratorsā obligations
as proper officers for tax,
and planning to ensure the
efficient realisation of
assets for the benefit of the
Companyās creditors as a
whole.
? Dealt with Tax and VAT queries and liaised with HMRC;
? Submitted tax return for y/e 14 September 2022;
? Drafted tax return for y/e 14 September 2023;
? Provided advice on the sale of MCFās trading subsidiaries (SPML & PML);
? Finalised the 2021 group tax loss position & drafted the 2022 group tax loss
position;
? Prepared and submitted quarterly VAT returns;
? Reviewed various documents prepared by legal team and accountants;
? Calculated tax provisions;
? Provided tax advice and prepared accounts to support preferred equity distribution;
? Liaised with Internal Revenue Service in the US; and
? Ongoing consideration of group relief/losses position to determine amounts
available for surrender.
Other PwC Staff
Other PwC staff who
provided the Administrators
with advice and assistance
as necessary for the
completion of the
Administration.
? Supported regarding SPML and PML, reviewed monthly management accounts
and documentation;
? Meetings and discussions held with various counterparties and lawyers prior to
entering into NDAās with parties that were interested in acquiring the shares in
SPML and PML, including review of offers received and drafted a sale and
purchase agreement; and
? Support received from members of the Disputes and Investigation team regarding
ongoing litigation matters including preparation of the reply to the SoD.
Future work
Examples of work remaining to be done to achieve the purpose of the Administration are shown below. This is not an
exhaustive list.
? Statutory reporting and compliance with the Insolvency Rules;
? Ongoing tax and VAT returns;
? Review and maintenance of financial information including reserves;
? Ongoing realisation of remaining assets;
? Progress continuing legal matters as set out earlier in this report;
? Seek consensual resolution on outstanding matters, where it is appropriate to do so;
? Continuing to wind down the portfolio of securities;
? Consider further proposals from the Directors to make equity distributions to LBHI2 provided there are future
funds to do so;
? Progress the sale of MCFās trading subsidiaries (SPML & PML); and
? Regular reporting and discussions with the Operating Committee.
On a regular basis the Administrators provide detailed reports to the Operating Committee in relation to the expected work
required to complete the Administration. These reports include estimated costs and benefits to the creditors of LBIE.
15 Administratorsā progress report from 15 September 2023 to 14 March 2024
🛑 🛑 🛑 Reality: Like it or not, only one home grown person can aid Lehman Brothers and negotiate WW III now or next year.
Show me our cash now! Take this Lehman Brothers' train off the railroad tracks, this year and run for the hills. United States' Foreign Policy is really foreign to the real Americans. Very similar to Subordinated Creditors' Cash in this Bankruptcy. YAWHO?
👌👌👌 LBIE's Legal Team must be in/out of SCOTUS to enable cash in our hands before November 2025, to do right for Lehman's Subordinated Creditors:
It is well documented in the case and the derivatives' Industry will stay on course based on the facts below:
33 MEMORANDUM OF LAW (Motion #1919)
Reply Memorandum of Law in Further Support of Motion for Leave to Reargue, or in the Alternative, Le ... show more
https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=nBhmPgrlziYnQ3JvgTtW2A==&display=all
PWC LBIE Update <cr>:
o 🇱🇷until 15 December 2024, in any circumstances;🇱🇷
You should be thinking about another Lehman Brothers' Plan Trust Extension. These outstanding legal cases are not going to fade away into the Clouds. It takes many months to write or wait on an Opinion. Appeals and malarkey have cost this bankruptcy years and years and years...at LBHI's cost. LBHI's bankruptcy was used to resolve Financial Industry's instruments grey areas at our cost and time. Reimbursement is required from the industry.
Sixteen years is not a bankruptcy. It is a new birth. Where is the Justice for subordinated Creditors? The Debtors' were given a free pass. We are not interested in the Debtors' excuses. Show us our money. This is all part of the New American: Secret billion dollar Hugs and Kisses for a smaller well defined group.
The Legal System is being abused like the World has never seen in the past Century.
🎂 Lehman Brothers' Bankruptcy Sixteenth Birthday is on September 15, 2024. The CT Holders' back interest is a variable asset, in addition to the fixed $25 per share CT Holders' principal or liquidation amount.
🤑🤑🤑 Irrelevant, because old men and young women are hard to stop. Example: The old men that are grabbing available cash in this Lehman Brothers' Bankruptcy, will not stop or read any reports.
You will never find Hugs and Kisses in a Financial book. Welcome to the new America. Roger, we have lift off. 🚀🚀🚀
We have No Law Enforcement and Government, Only Professional Gang Members. Thank you very much, Sir.
👁️ 👁️👌 The New America is alive. Put the Genie back into the bottle.
🚀🚀🚀Thank you very very much! We all have dreams and goals.
You may enjoy reading about the twin Oliver's brothers, my first cousins and mentors from the age of 14, versus looking at more Lehman Brothers' cases. Enjoy a few more Hunts:
Looking back with more facts on the LBIE vs AGFP case, why did Judge Shelley C. Chapman turn down this case that has plain and simple contract language?
🙏👁️🙏Jesus will not alter your will or motivation, but he will alter your life.
🆘🆘🆘 Sir: Protect only Canada and not the United States' Investors.
Enjoy the Hunt! Otherwise, close your eyes and wish for a rainbow or pie to fall out of the sky!
The crooks read and post on this board too! This case is much bigger than Lehman Brothers' derivatives. Shine a light on that coon that is trying to hide in that tall oak tree. 🤑
👁️👁️Current News for Framework
Agreement's Y and Z Distributions:
Stop the theft!
Settlement Agreement soon?
Modified versus Standard ISDA Master Agreement Contracts:
After all these years, we were working on the wrong case (Trillions). These dudes (AGFP and gang) cannot read the CTs' prospectuses and the ISDA Master Agreements. Both contracts are based on New York law. Thanks to SCOTUS for their 2019 decision in the CTs Holders' favor [Executory Contract Rights survives rejection...].