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https://blockworks.co/news/bny-mellon-crypto-plans
Git r Done…
Cheers!
That actually makes a lot of sense…
Can’t say that theory has been explored in the past 15 years. What say you Toogoodfella and SwissCheeseWhiz?
It may be that it’s only for ROTH IRA accounts. That’s the only account I have remaining at ally. My other account was transferred to Schwab in 2014ish.
I would like to transfer the Roth and the LBHI commons to schwab but for some reason it was not allowed. I’ll just pay the $20 per month and hope it ends soon.
Cheers brother
Thank you for that info. I just got off the phone with ally invest about my Roth IRA account that holds my LBHI Common shares. The rep told me that LBHI common shares has been dropped by APEX, it’s Transfer Agent. The $20 per month book keeping fee, now being assessed on my account, is a recurring fee- they call it a “non-transferable fee”.
Hopefully this is ending soon!
Cheers guys!
“There are Fed or House calls in your account.
Account ending with 7783 House Call $20.00 Due Date 05/16/2023
A margin call may be satisfied by the prompt deposit of cash or additional acceptable securities. “
Maybe it’s an error…
I’ll call tomorrow. I paid quickly without reaching out…I didn’t want any trouble over $20
I’ll Git r Done for ya JoiseyBoy!
In the Ally account, I only hold LBHI Commons. My Schwab account has CTs in Roth and more commons in the trading account.
Haven’t heard of any account margin calls or house charges from Schwab, yet.
Cheers
Oh well I’ve had a free account at Ally since they took over Zecco and Tradeking a dozen years ago. So know I guess it’s time to pay the piper.
Are you sure it’s a monthly recurring charge? I didn’t read that anywhere. Maybe I’ll call them tomorrow and screw with them!
Is this the message you received from Ally? I just paid the $20. Didn’t see it was a monthly thing, but I’ll take your word for it. Not sure why they name it Fed or House calls. I have never used margin.
Cheers!
Hello James XXXX
There are Fed or House calls in your account.
Account ending with 7XXX
House Call $20.00 Due Date 05/16/2023
A margin call may be satisfied by the prompt deposit of cash or additional acceptable securities. While most call notices are delivered with a two day response time, Ally Invest retains the right to require additional margin in any amount and in any time frame considered prudent. Ally Invest's determinations are based on market conditions, concentration in one or more securities and other relevant factors. If you do not meet a margin call, Ally Invest may liquidate securities in the account to the extent necessary to satisfy the call. Ally Invest can sell your securities or other assets without contacting you. Ally Invest may attempt to notify you of margin calls but is not required to do so. However, even if Ally Invest has contacted you and provided a specific date by which you must meet a margin call, Ally Invest can still take necessary steps to protect its financial interests, including immediately selling the securities without notice to you.
You are not entitled to choose which securities or other assets in your accounts are liquidated or sold by Ally Invest to meet a margin call. Ally Invest can increase its "house" maintenance margin requirements at any time and is not required to provide you advance written notice. You are not entitled to an extension of time on a margin call.
Please read Ally Invest's Margin Agreement and Disclosure, which is available
NOLs allow a reorganized LBHI to basically operate for many years forward with no federal tax due. The only way LBHI can use NOLs is to remain as a fully operating company, therefore use’em or lose’em.
Cheers
I like that Chatgpt guy!
you know what else is interesting...all these banks being shut down over the past few months and days. The latest one being called "the second largest bank failure in US history". So I went looking for the first largest bank failure in US history and lo and behold it wasn't LBHI. Go figure. It's actually Washington Mutual at ~$300B. It's nice to see that LBHI is NOT a bank failure...as we know it's actually a bank REORGANIZATION.
Cheers all!
Crap! And I had one last question that I frequently ask…
When the F@#K will this all be over?
All guesses are good guesses!
6.5
(a) Each holder of an Allowed Claim in an LBHI Class 3 or LBHI Class 7 shall be entitled to receive its Pro Rata Share of the Plan Adjustment until such Allowed Claims are satisfied in full in accordance with Sections 4.3(b) and 4.9(b) of the Plan, as applicable. In the event that holders of Allowed Claims in LBHI Class 3 or LBHI Class 7 are satisfied in full, Distributions (including the Plan Adjustment), if any, shall continue to be made on account of such Claims as if they had not been satisfied in full, provided that such Distributions shall be made to each Participating Debtor for the exclusive benefit of holders of Allowed Claims in such
Participating Debtor’s Contributing Classes and, in the case of LBHI, LBHI Class 9A or, in the case of LBSF, LBSF Class 4B, in proportion to, and only to the extent of, its Plan Adjustment contribution.
Git r done! Hiccup.
https://dm.epiq11.com/case/lehman/info
These annual notices get posted at this link and the 2022 statement has not yet been added.
Cheers all!
LOL! We must allow rif raf or none of us are getting in! I’m the crown prince of all rif raf and white trash! Joisey boy is King cat daddy!
Cheers
Yes I will even buy you one as well!
Hell when the LBHI ship comes in I’ll buy everyone a dang steak. See you in Las Vegas, hopefully before 2025!
Yep most here already know all that stuff. We’ve all gotten a little smart about bankruptcies.
I’m gunna go with LBHI is in Ch 11 reorganization with a liquidating trust approved by the IRS in order to preserve NOLs.
If you don’t mind, let’s leave it there because I don’t feel like going back n forth on the issue. We’ll all see how it works out soon enough.
If you’re right, I’ll be the first to tell you congrats. Might even buy you a steak, unless you’re some kind of liberal pinko commie vegan avacado toast hippie!
Cheers
Chapter 11 bankruptcy means reorganization, so no need to even mention it.
A man of your supreme intellect should know that already.
Liquidating Trusts are designed to Liquidate as a separate entity apart from the operating mother ship. That’s why they are set up with IRS approval and are expressly created for a limited period of time with NO ability to continue indefinitely.
The LBHI Liquidating Trust is simply doing its job…liquidating and effectuating the Chapter 11 Plan of Reorganization
Watch this and then come back next week to apologize. You’re welcome!
Git r done!
Smart man that Swiss Cheto! More people should listen to him
That is very clear Toogoodfella and deserves a big ole Git r Done!
Git r Done!
WOW! I love your new robot...
He/Him/Her/It speaks my language!
I want my NOL certificates!
I will check it out today. Those questions and answers were spot on.
I’ll take the Chiefs.
Amazing Swiss!
I hope it replaces Google…the pure evil lizard people
Drops Mic, walks off stage to a standing ovation
very nice work cheese whiz!
this board is lucky to have you!
What clue are you giving us Cotton?
Why did you add “here”?
10. Given the significant value that the NOLs may provide to the reorganized
Debtors, the Committee shares the Debtors’ view that granting the Debtors the authority to
implement the Procedures is an appropriate exercise of both the Debtors’ business judgment and
this Court’s equitable powers under section 105(a). If approved, the Procedures should enable
the Debtors to preserve the potentially substantial value of the Tax Attributes for the benefit of
their estates and creditors
REORGANIZED Debtors!
REORGANIZED Debtors!
REORGANIZED Debtors!
Thanks Swiss! That case text was very valuable and good reading to understand all this at a deeper level.
Question: in the POR and The Plan, whenever it is mentioned “may receive stock distributions”, are they referring to the 17M preferred authorized but never issued shares that LBHI has stored away?
Cheers
“In this case, a shareholder's holding will be converted to escrow shares and then converted back to their original form if any equity remains in the company after the completion of the bankruptcy or reorganization process. “
I know Mr. Toogoodfella has been talking about this potential reinstatement-conversion for years but I’ve never actually read it anywhere before. Didn’t know it was actually a thing.
Thanks for sharing that! You made my day!
Git r Done!
Read read read what Cotton?
Where’s the link to read read read?
Cheers
Hey Joisey Boy! Aren’t you thinking of Daisy? I know she had a boat load of commons…
And sell those shares to buy ocean front property in Arizona! Voila millionaire!
The words are wonderful because ole Joe Stocks has always said we are NOT in a plan of reorganization…
So I just like to rub his nose in it…kinda like when a dog craps on the floor, you rub his nose in it so he doesn’t do it again.
Cheers!