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way to go! Now let’s finish up LBHI before I retire! Just so happens that’s about 5 years away...
Maybe that’s why they extended the Plan Trust another 5 years? For ole Jimbo to cash out in 5 years upon retirement! Now that’s a conspiracy theory there!
Cheers Joisey! Give the Mrs a kiss from all of us weirdos on LBHI IHUB board!
sounds like a good plan...
i'm just scared of New Joisey! too many Commies there...
i'm surprised you haven't moved south yet...I know yer not Commie
Joisey, run over there...and like a 007 spy and take phone photos while the court clerk isn't looking! Git r Done Joisey!
Thank you very much! I’ll check it out.
Cheers!
any idea what the common shares are trading at today? what is the ticker symbol? I checked on WMIH and could not find anything.
so lets say 615,000 old shares = 18,450 new WMIH (@.03 per common).
what are these 18,450 shares worth?
Cheers!
Liquidate?
for what reason? Because it reached $0.0075? Laughable!
Maybe when it's $0.075...
This thing will go to the moon one day...just not today.
move on...
I would say there are no longer ANY shares from the former LBHI. ALL equity shares have been cancelled, but as you know well, former rights of payment were preserved and escrowed in the new one single share held by the plan trust for beneficiaries (former shareholders).
LBHI can issue new shares when they determine it to be the best business decision...I hope soon.
so ALL of the remaining NOLs (~$50B - ~$150B) will be used to offset the COD income generated from the discharge "in the liquidation"...which IMHO means the IRS approved "Liquidating Trust" or Plan Trust. So the term "Liquidation" refers to the actual liquidation of the Plan Trust (not LBHI), approved by IRS with a 5 year extension.
am i getting warm?
Ok I read it 5 times, looking for any clues...
Would appreciate your analysis because you always have a nice twist to these statements...i.e. they don't always mean what you think they mean.
Cheers!
thanks for letting us know joisey boy. what was Jimmy's ihub name? I do recall the often stated "across the pond"messages...
RIP Jimmy!
You did Argus63...
But they always place that boiler plate language in those releases because it’s in the POR for twice yearly distributions.
I don’t recall it stating for certain...just the blah blah blah next scheduled distribution in Sept kinda stuff.
Cheers!
Man I like the way you think!
Hopefully you’re right on target...
I agree toogoodfella...
it makes sense since LBHI cancelled the old equity but retained all former rights of ownership and payment with escrow markers. My guess the escrow markers are for the NEW LBHI shares they will need to create when the BK is closed.
It's always nice to read you posts toogoodfella...very rational and logical conclusions
Cheers
In the UK, didn't the PWC call it "returning Lehman to the SHAREHOLDER"? Something along those lines...
Those are wonderful sounding words "returning Lehman to the Shareholder"!
This is the best definition of "Liabilities Subject To Compromise"
The 15th Century Medici Bank Is Getting A 21st Century Re-Launch And Also Will Serve Crypto Firms
https://www.zerohedge.com/markets/15th-century-medici-bank-getting-21st-century-re-launch-and-also-will-serve-crypto-firms?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
my Lehman > Crypto bank theory might just happen yet...
who knows, but it's getting very very interesting. LBHI needs to use those NOLs...
Hey toogoodfella,
Since we're all waiting to learn what "liabilities subject to compromise" actually means, why couldn't CT's also be subject to this compromise? Maybe receive new shares in the newco publicly traded Lehman crypto bank? didn't I hear/read that CT's can not be discharged in bankruptcy? just some deep thoughts...what do you think? others please chime in also...even you Joisey Boy!
excellent point!
keep it going toogoodfella...
Uhhh yeah...that would be me drooling!
(old) Lehman Bros. = (New) Crypto Bros & Hoes
I still stand by my 2013/14 prediction here on IHUB that LBHI will also be involved with crypto. The Bitcoin whitepaper was created in 2008 and BTC was launched in 2009...coincidence with LBHI bankruptcy? NOPE!
"they" were simply ushering in a new banking system and LBHI drew the short straw. BUT, LBHI will be back...BUILD BACK BETTER!
https://www.zerohedge.com/crypto/americas-oldest-bank-adopts-cryptocurrencies
WOW! That would make a very nice testimonial.
I'm certain team BIEL would love to hear from you...
CEO Kelly Whelan: KWhelan@BIELCorp.com
Cheers!
Git r Done!
make a distribution by way of dividend to LB Holdings Intermediate 2.
I like the sound of that...dividend
Yep...didn't they say something to the effect "returned to the shareholder"?
brother toogoodfella...
I think it's fair to say that you see the potential value in these 4 CT's, so does Joisey Boy and even little ole dumbass me. I just bought 20,000 shares of all 4 CT's last week. Purchased ALL 4 under $.15 per share. So am I just a simple genius for buying this distressed hybrid debt (FV $500,000 + potential dividends) for <$3,000 or am I a complete moron because some one just picked my pocket for $3000 and all i get is some worthless beans...
I think what Joisey Boy is asking is WHY, if the potential is there to make +$5.00 or even $25.00...WHY, HOW on Earth could it be selling for <$0.15? I know you are smart, but for me I'm just trying to get lucky...
So wait a second Toogoodfella...are you saying CTS WILL NOT GET ANY MONEY IN THE DISTRIBUTIONS OF ASSET UNDER THE BANKRUPTCY PROCESS. ?
And
THE ONLY HOPE (cross your fingers) IS IN THE NOL IF LEHMAN WILL STAY AS ONGOING BUSINESS TO UTILIZE IT. !
I don’t know, that sounds very radical!
and that's a good thing, right?
keep posting toogoodfella...we need more from you, not less
cheers
Hiccup!
you know Vodka is not just for breakfast anymore!
I’ll drink to that!
Hiccup
Can I drive to get a drink?
Git r done Joisey Boy!
IMHO another reason they couldn’t issue the shares is due to ALL shares in LBHI have been CANCELLED. IMHO that would include authorized but not yet issued or outstanding shares they may have been holding in a safe or that someone may have found in a manila envelope behind the old xerox machine during the move to new LBHI offices.
ALL IMHO of course...
Nice find! Keep it up...
Yer on the trail
Howdy HOR!
73. LBHI just signed a new multi-year lease for office space at 110 East 42nd Street, New York, New York 10017, to begin on or about November 1, 2020.
Git er' Done!
you gotta admit these are some beautiful words...even though from UK. We'll likely read something similar in USA soon...
I think I will print these words on some special paper, frame it and put it right next to my POTUS signed photo!
Outstanding matters and exit from
Administration
The Administrators continue to review progress and consider
that despite the impact of Covid-19, progress continues to be
made to reach the point at which the Administration can be
concluded. However, there remain a number of important
ongoing interactions with counterparties and the courts (all of
which continue to be impacted to a greater or lesser extent by
the Covid-19 situation with matters taking longer to be resolved),
which makes it difficult to predict precisely when the
Administration will be brought to an end.
The Administrators anticipate that the Administration will in due
course be brought to an end following an application under
paragraph 79 of Schedule B1 to the 1986 Act and that the
company will be returned to the full control of its directors. With
this in mind, it is anticipated that the directors will assume
responsibility for long-tail asset recovery for the benefit of the
Shareholder as the Administration draws to a close.
Managing the affairs of the company continues to sit with the
Administrators until such time as LBIE exits administration; and
is returned fully as a solvent entity to the control of directors to
be managed as a going concern for the benefit of the
Shareholder.
6
My decade long summary of LBHI bankruptcy...
CLUSTERPHUCK!
Does that help any? I feel better...LOL
cheers
They're gettin $5.00 Joisey!
Just like you've been saying you want for the last DECADE! LOL!
The UK drank YOUR milkshake! Maybe we'll get some too...some day
Cheers brother
you are the grand master of finding sh!t!
Cheers!
WOW! now that is the best news I have heard in 12 freaking years!
amazing, absolutely amazing...