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Are you saying it was stated in US Court that JPMC has purposely set aside at this moment $8B that they held back in order to satisfy the CT guarantees at some future date?
Did JPCM really say that in court? Not doubting you, just have never heard those words before. Been here since day 1.
Cheers!
Just how rich are we gunna be Cotton?
Bottom line it for us brother…
Git r done!
that's an interesting take cotton. so the UK bankruptcy is potentially paying USA CT's directly from their surplus?
I am happy to be wrong...
and where the heck is SwissCheese these days?
cheers!
My 15 year study and unofficial honorary PhD from LBHI bankruptcy university tells me we CT holders will not see a penny distributed to us while under the court managed bankruptcy POR. Like Toogoodfella has stated for 14 yrs, our day comes only if LBHi remains as a going concern.
It’s very clear in the POR what happens to CTs. It’s my understanding, the UK higher classes were satisfied in full…so Ecaps are receiving a distribution. If CTs receive a distribution it will mean the US higher classes are satisfied in full and the BK will close…SOON!
6.4 Redistribution of Subordinated Claims Recoveries.
To give effect to agreements of holders of Subordinated Claims, all Distributions under the Plan made by LBHI shall be calculated as if each holder of an Allowed Claim in LBHI Class 10A, LBHI Class 10B and LBHI Class 10C were to receive its Pro Rata Share of Available Cash from LBHI, and, in the case of each holder of an Allowed Claim in LBHI Class 10A and LBHI Class 10B, its Pro Rata Share of the Subordinated Class 10C Distribution; provided, however, that:
(a) the Subordinated Class 10A Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3 and LBHI Class 4A pursuant to Sections 4.3(b) and 4.4(b) of the Plan, respectively, until all such Claims are satisfied in full;
(b) the Subordinated Class 10B Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B and LBHI Class 5 pursuant to Sections 4.3(b), 4.4(b), 4.5(b) and 4.6(b) of the Plan, respectively, until all such Claims are satisfied in full;
(c) the Subordinated Class 10C Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B, LBHI Class 5, LBHI Class 10A and LBHI Class 10B pursuant to Sections 4.3(b), 4.4(b), 4.5(b), 4.6(b), 4.13(b) and 4.14(b) of the Plan, respectively, until all such Claims are satisfied in full; provided, however, that any portion of the Subordinated Class 10C Distribution payable to holders of Allowed Claims in LBHI Class 10A shall be automatically distributed to holders of Allowed Claims in LBHI Class 3 and LBHI Class 4A pursuant to Section 6.4(a) of the Plan until all such Claims are satisfied in full; provided, further, that any portion of the Subordinated Class 10C Distribution payable to holders of Allowed Claims in LBHI Class 10B shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B, and LBHI Class 5 pursuant to Section 6.4(b) of the Plan until all such Claims are satisfied in full.
Looks like 2025 is the year for us! Who woulda thought…
Yes and I would bet LBHi would like to see their old CT problem go away in bankruptcy with a final distribution before continuing as a going concern with a clean slate. Commons reinstated when Lehman rises from the ashes as a crypto trading bank that merges with the Kraken exchange! Release the Kraken
I assume the higher classes in UK have been satisfied in full and therefore Ecaps are receiving distributions.
It’s my understanding the US higher classes are not yet satisfied in full so a CT distribution is unlikely.
But what the hell do I know!
Cheers all
truer words have never been spoken...
this is straight from the PORs mouth...
6.4 Redistribution of Subordinated Claims Recoveries.
To give effect to agreements of holders of Subordinated Claims, all Distributions under the Plan made by LBHI shall be calculated as if each holder of an Allowed Claim in LBHI Class 10A, LBHI Class 10B and LBHI Class 10C were to receive its Pro Rata Share of Available Cash from LBHI, and, in the case of each holder of an Allowed Claim in LBHI Class 10A and LBHI Class 10B, its Pro Rata Share of the Subordinated Class 10C Distribution; provided, however, that:
(a) the Subordinated Class 10A Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3 and LBHI Class 4A pursuant to Sections 4.3(b) and 4.4(b) of the Plan, respectively, until all such Claims are satisfied in full;
(b) the Subordinated Class 10B Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B and LBHI Class 5 pursuant to Sections 4.3(b), 4.4(b), 4.5(b) and 4.6(b) of the Plan, respectively, until all such Claims are satisfied in full;
(c) the Subordinated Class 10C Distribution shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B, LBHI Class 5, LBHI Class 10A and LBHI Class 10B pursuant to Sections 4.3(b), 4.4(b), 4.5(b), 4.6(b), 4.13(b) and 4.14(b) of the Plan, respectively, until all such Claims are satisfied in full; provided, however, that any portion of the Subordinated Class 10C Distribution payable to holders of Allowed Claims in LBHI Class 10A shall be automatically distributed to holders of Allowed Claims in LBHI Class 3 and LBHI Class 4A pursuant to Section 6.4(a) of the Plan until all such Claims are satisfied in full; provided, further, that any portion of the Subordinated Class 10C Distribution payable to holders of Allowed Claims in LBHI Class 10B shall be automatically distributed to holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B, and LBHI Class 5 pursuant to Section 6.4(b) of the Plan until all such Claims are satisfied in full.
agreed 100%. isn't current the interest owed on CT's ~$37 per share after 15 years? or is it longer than 15 years? Has LBHI ever paid interest on CT's from inception? It looks like answers to this LHBI riddle will come next year...yeah! 2024 is our year! until 2025 rolls around...
what a mess...
So you’re telling me there’s a chance…
Cheers!
I vote for joyceschoice as the winner of this MORibund competition! We do need MOR cowbell!
Could be were all just a bunch of MORons!
One of these days we will see the end…
Yes, SOON!
Git r Done
Swiss Cheese! Where the hell are you?
Get in the conversation brother.
Cheers
I’m not sure everyone would agree with “valuable”. LOL! Does anyone know the most active BIEL market makers?
Cheers
Which MM’s are the most active on BIEL?
Cheers!
Thanks brother TooGood! I had forgot about the extension. I also remember saying there is NO Way it will go to December 2025. But in reality it looks like it absolutely will go the distance.
Cheers to the board!
Aren’t we 3 years past that 9 year max for the Plan Trust?
Soon. Very Soon…when you take in comparison to the overall age of planet earth. Soon.
Cotton it looks like you’re getting your crown back as King for all these great posts lately!
Git r Done!
…”These ECAPS' are In LBHI's Bankruptcy”
how do you know that IV and V are in LBHI bankruptcy?
Good stuff cotton. Git’em Blue!
Class 10 has always been “deemed to reject” the reorg plan and the Ch 11 plan states any class 10 payment is redirected to higher classes. CTs will be paid but only after the BK closes and only if LBHI is a going concern.
Does it say…GIT R DONE?
I ALWAYS CHECK LBHI on IHUB using the LEHNQ stock symbol. Just noticed this for the first time in front of the LEHNQ symbol:
“ In Lehman Brothers Financial SA”
Is that new?
Cheers
What are you talking about…I’ll only be 90! 90 is the new 70!
It could also be that Vanguard bought and owns M series at $25 FV and they are calculating unpaid interest due.
If LBHI does not return as a going concern and reinstate CTs, the loss will become a tax write off for Vanguard. So the computer program just keeps up with all that just like our stock brokers calculate our individual costs and profits/losses for us.
It’s just nice to see the actual interest owed and that “the big guys” are also invested here.
Hopefully we don’t have to wait till 2053 for our redemption!
Cheers!
Hey Cotton, it appears Vanguard is adding interest owed to their 8579 ($25) shares.
$396,169 / 8579 = $46.17 - $25 FV = $21.18 interest! Nice! Even Joisey Boy Will like this!
Security LHHMQ / Lehman Brothers Holdings Capital Trust V - 6% PRF REDEEM 22/04/2053 USD 25 - Ser M ?Institution VT - Vanguard Total World Stock Index Fund ETF Shares ?Latest Disclosed Ownership 8,579 shares ?Latest Disclosed Value $ 396,169
Nice find Cotton! Git R Done!
Correct, BUT, the referenced liquidation is the liquidating trust. This irs approved liquidating trust is a separate concern from LBHI. Otherwise why do a liquidating trust. So the NOLs generated from the aforementioned liquidating trust will be totally used up at the end of the liquidating trusts life, which hopefully is soon!
LBHI has NOLs that are protected by an order that dates back to 2008 or 2009.
This is all IMHO. And my guess is as good as anyones. Especially Joisey Boys!
They have to pay us in cash or stock, but I will be converting to BTC. Cash is trash as they say
https://www.nomuraholdings.com/news/nr/holdings/20080922/20080922.html
https://www.forbes.com/sites/digital-assets/2023/09/19/nomuras-laser-digital-launches-bitcoin-fund-for-institutional-investors/amp/
Soon LBHI will be a crypto bank. I said it I. 2014ish and I’m saying it again in 2023.
Git r done
Hiccup!
Excellent theory Toogoodfella!
Tell me again how rich I’m gunna from LBHI…
I’m right here! Just tryin to Git r’ Done
You’re not alone, but it’s also not fraud.
It’s at least a 15 year journey by senior management that has resulted in NEVER fully understanding how to sell Actipatch to the public.
The product has ZERO sizzle and never has had any. The MyPillow guy would have sales exceeding a billion dollars annually inside of 30 days imho. Why/How? He would figure out the sizzle and give the world what they want.
BIEL is BLAH! And that’s all we get is Blah blah blah
there are only 15 Articles to the LBHI bankruptcy POR...seems like we're getting close to this one.
15.2 Issuance of New Securities. In the discretion of the Plan Administrator, each Debtor or Debtor Controlled-Entity (a) may form and transfer certain assets of the Debtors and/or Debtor Controlled Entities to new (or utilize existing) entities, including, without limitation, one or more separately managed partnerships, REITs or other investment vehicles, to hold certain real estate or other assets of the Debtors and/or Debtor-Controlled Entities and, (b) may, in connection therewith, issue New Securities for Distribution under the Plan. In the event that the Plan Administrator determines to issue New Securities, each holder of Allowed Claims or Equity Interests against a Debtor that contributed assets to the entity issuing New Securities shall receive the relevant New Securities as Distributions in accordance with the Plan. The New Securities shall be valued as of the date of the issuance and the holders of Allowed Claims or Equity Interests receiving such New Securities shall be deemed satisfied to the extent of the value of the New Securities.
15.3 Exemption from Securities Laws. To the maximum extent provided by section 1145 of the Bankruptcy Code and applicable non-bankruptcy law, the issuance of any New Securities or Liquidating Trust Interests will be exempt from registration under the Securities Act of 1933, as amended, and all rules and regulations promulgated thereunder and any other applicable non-bankruptcy law or regulation.
15.4 Exemption from Transfer Taxes. Pursuant to section 1146(a) of the Bankruptcy Code, (a) the issuance, transfer, or exchange of notes or equity securities, (b) the creation of any mortgage, deed of trust, lien, pledge, or other security interest, (c) the making or assignment of or surrender of any lease or sublease, or (d) the making of or delivery of any deed or other instrument of transfer under, in furtherance of, or in connection with the Plan, and any merger agreements, agreements of restructuring, disposition, liquidation or dissolution, any deeds, bills of sale, transfers of tangible property, or assignments executed in connection with any disposition or acquisition of assets contemplated by the Plan (including by a Liquidating Trust), in each case whether as a result of sale, assignment, foreclosure or deed in lieu of foreclosure, shall not be subject to any stamp, real estate transfer, mortgage recording or other similar tax to which the exemption under Section 1146 of the Bankruptcy Code applies.
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