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I feel the same way Mac & Cheese!
LBHI is of course a "holding company"...kinda like a shell company that holds other operating companies.
And I believe the "liquidation" that is mentioned many times in todays docs is relating to the "Liquidating Trust" that the IRS allowed LBHI to form...that's what is being "liquidated"...that's why they call it a "LIQUIDATING TRUST"...cuz they LIQUIDATE stuff. LOL!
Once everything is all "LIQUIDATED" and Satisfied in Full, then LBHI can move on and restart...which is what corporate chapter 11 bankruptcy does...restarts the company free and clear!
Cheers
Let’s wait for Toogoodfella to analyze it.
Time to get up Toogood!
https://dm.epiq11.com/case/lbh/dockets/61443?debtorid=1906
dockets 61442 and 61443 are good reading today...
almost done here!
Cheers
well Joe, you have finally found your true calling.
go figure it was Comedy! after all these years of failing as a stock picker...weird huh?
What is the essence of #bitcoin? It’s not #blockchain.
It's the ability to operate in a decentralized way without having to trust anyone.
To be able to use software to authoritatively and independently verify everything yourself without appeal to authority.
The Venezuela crypto is backed by Oil isn’t in? Who cares...no one trusts it and it is deader than a doornail. All crypto is NOT the same...many scoundrels and scams out there. Get yourself educated...or not. you'll need it, or don't.
The world needs ditch diggers too!
good luck Viva!
music to my ears!
Swiss Cheese, of course LBHI will want to change the name upon returning to daily business as a "going concern", if only for marketing purposes. And if they do M&A, even more likely to change the name from LBHI.
"Crypto Brothers Bank" has a nice ring to it!
What do you think Viva Las Vegas? you seem like you have such an open mind for new things...
well bless your heart
We’ll just have to disagree politely on that crypto ban. No way. You can’t ban software. You can try to throttle it, but can’t ban it. They’ve been throttling Bitcoin since 2012…it’s unstoppable.
Cheers
So maybe in 2008 Lehman was chosen as the sacrificial lamb to be slaughtered in order to usher in the new crypto economy.
The Bitcoin standard is coming…very soon. It makes sense for an old legacy bank to add the necessary gravitas. Barclays and LBHI would do just that. BNYMellon is already on board as is Goldman Sachs and other reptilian overlords.
How ironic if it really plays out like this with LBHI as a potential spear point for crypto banking. Then we would know for sure there is a parallel government out there calling the shots on a multi year/decades outlook.
My bet is still on LBHI returning to daily business and M&A in order to utilize billions in NOLs. We must be getting close to knowing if that is true.
Cheers!
Git er done Joisey Boy!
GFY = Good For You!
Good for you Joe! Go get’em you Tiger of a stock trainer you!
21 It resulted in a plan of reorganization. The plan
22 of reorganization contemplated a bar date and an orderly
23 process for the consideration of claims. That's what has
24 occurred here.
25 In fact, this case is coming to its conclusion.
Joe...GFY!
good for you!
I love it when I hear those 3 beautiful words from the actual bankruptcy judge! “Plan Of Reorganization”
Take that Joe…straight from the horses mouth!
Thank you for sharing Cotton
Yes exactly correct Joisey Boy!
$5.00! You just wait n see…
The Lehman rebirth will be a beautiful thing my friend.
“THEY” can’t ban Bitcoin. Just ask the dumbshit PM in Canada.
My money is still on LBHI to return to the Financial Services industry with a crypto bank
Cheers!
https://www.coindesk.com/business/2022/02/18/lehman-brothers-bargain-hunter-bob-diamond-now-paying-up-for-crypto/
Lehman’s new crypto bank coming soon…
Coming soon…
Barclays Bitcoin Bank!
The BBB!
Let me guess…$5 bucks a share?
Git r Done! Hiccup!
Never forget…potato vodka is a vegetable
Crypto Jimbo!
All the ducks are lining up…
There’s a couple of other words for him also…namely LIBOR & FRAUD!
Yeah that’s real “classy” alright! Lol!
Cheers brother
I agree they own the Lehman name but what's that worth?
The old Lehman will rise from the ashes but it should be with a new name...you know like "Crypto Brothers Blockchain BanC and Trust"
The last paragraph in the message from BNYM means the CT guarantee is still valid...
"the Bank of New York Mellon has already taken all necessary steps to ensure that Noteholders will be paid, "if" funds are available to make payments to class 10B members under the Plan and Indenture...
That is all the CT guarantee has ever guaranteed...if funds are available.
and the very last sentence, I believe, simply means the Noteholders can sue to take possession of the Note...but if the Note is worthless, what would that solve. You would ONLY sue if there are funds that could be paid to Class 10B...
They say there are no funds for 10B under the plan. Pray for after the plan. I don't believe CT's can be discharged.
Cheers!
Nice work Cheese! Git r Done!
here ya go brother Argus!
The typographical symbol dagger (†) has several meanings. Possibly its most common use is as a footnote marker.
According to You Have a Point There: A Guide to Punctuation and Its Allies, when it is used for this purpose, it must be used for second footnotes only; the first footnote should be indicated by an asterisk (*), the third a double dagger (‡) and further footnotes other symbols or numbers.
All excellent points cheese steak! Especially the part about a once full head of hair!
We’re getting there…Shouldn’t be too much longer
Are you saying LBHI “showed their hand” early when they offered the J series from the “kitty” to Ecaps?
Ecaps refused the offer but LBHI thought J shares were worth something…correct?
Agreed! And all this is due to 3 wonderful words and the part of the POR we are in now or soon will be…
Subject To Compromise!
I understand what you’re saying and let’s say it is a fact Jack…
We also know that ALL LBHI stock shares have been cancelled…and yet we still believe there is hope for reinstatement or new shares or a host of other possibilities.
The same holds true for CTs. They may have disallowed and expunged for the purpose of this BK and higher classes, but I do not believe the judge allowed a rewrite of the CTs prospectus. The higher classes need to get paid and get gone. Then our day will come.
The time for a legal battle is at least 10 years late and the judge has said she’s had enough already. It’s a shame you gave away all your CTs…they will be worth a lot one day soon.
Cheers brother!
Are you saying the “CT guarantee” that simply guarantees a payment to the CT holder “if” there are funds in the trust has been cancelled? Or was this CT guarantee halted during the bankruptcy?
I’m just asking…not judging. I’m on the side of CTs and getting paid or return to going concern. But I do not believe we will ever be paid in BK, nor did CTs ever have a chance of payment because since day one of the POR it stated that clear as day.
But it does seem likely we MAY see a newco with NOLs. That is much easier to believe in than any lawsuit at this late stage.
Cheers brother
Jimzin - See Good Ship Float on Land:
The most common form of superior mirage is called the Fata Morgana. It was named after the sorceress of Arthurian legend whose specialty was casting illusions of nonexistent islands and castles in the sky to deceive sailors.
Brother Cotton...we all appreciate the good fight that you and others have fought in this BK legal system. I think you know it may have produced better results if it had been started in 2010/11 time frame. CT's got a raw deal...we know that, but this late in the game is just too late to make a change. But what do I know!
I thought we all sort of agreed that CTs and Common shares would see zero recovery in bankruptcy. As in not a snowballs chance in hell of any monetary distribution. Aren’t we instead waiting on the close of this BK in order to remain as a going concern to utilize the NOLs to fullest extent?
Isn’t our true benefit in LBHI afterlife?
Cheers!
docket 61415, page 5, far right column heading...some wonderful words for Joisey Boy!
Estimated
End of Case
Recovery %
Is that you Joe?
I agree! Nothing to worry about. All is well in the land of CTs and our GUARANTEE of payment once LBHI is once again a going concern.
I thought we (CT's) were NON-dischargeable anyway...
all we can do is wait and see, but your DD is amazing and much appreciated. Oh and by the way...our "guarantee" is still in place. It was never NOT in place. The LBHI guarantee is simple...
IF LBHI HAS THE FUNDS TO DEPOSIT INTO THE TRUST, THEN AND ONLY THEN WILL LBHI GUARANTEE THAT YOU AS A CT HOLDER WILL GET THE MONEY AND THE INTEREST.
At this time there is no money to deposit into the trust, BUT if there was then LBHI would GUARANTEE you would be paid...but there ain't any so don't worry about it...but the GUARANTEE is still valid...BUT there ain't no money...LOL
you get it, right??? it's not hard to understand
Hey Swiss,
Maybe you should just file a lawsuit against him in Chapmans court for breach of verbal and written contract on ihub!
It’s provable! She dislikes these guys so much she’ll likely issue a bench warrant for his butt and lock’em up in the ole Epstein cell until he Sells his shares like he said he would do!
Or just skip it and chalk it up to this guy maybe being a lying loser. Not sure…don’t know him, but I also don’t want to know him. Doesn’t appear honorable in the least.
That deserves a big fat Git r’ Done!
Nice job cheesy!