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How’d you get to be so smart Toogoodfella? One day we’ll meet at the LBHI reunion and I’m make Joisey boy buy you a drink! He’s got the real money!
Cheers
Full value plus the accumulated 13 years of interests!!!
_____________________________
In your opinion is this full value + interest paid to CT holders with new shares (maybe J series) or in some other way?
Cheers!
I agree with you on that one...she knows it's all done and it's time to retire!
yes sir...you are correcto!
Don’t you mean Blue Horseshoe? As in Blue Horseshoe Loves Anacott Steel?
Now that was funny! And spot on!
1. I believe LBHI will be “back in business” and they must pay CTs to be back in business.
2. I don’t have any fears for CTs. None. Not one. I actually only hold about 50k CTs that I just bought last year. I am a commons shareholder. And commons are really golden IMHO!
I really don’t think you’ll need it. Shit ain’t gunna hit the fan. I really think we’re golden…at least silver or bronze!
The time to have the CT lawsuit was the day after the POR became effective. I was here then also and everyone on the board laughed whenever someone mentioned forming a lawsuit together. Everyone chip in $1000 bucks. Remember those days Joisey Boy??? I do.
This recent lawsuit was too simply too damn late.
Cheers
Git r’ Done!
Cheezy...it's all in the POR.
1.107 New Securities means the securities that may be distributed by a Debtor or Debtor-Controlled Entity after the Effective Date to the holders of Allowed Claims against or Equity Interests in such Debtor representing an interest in an existing or newly formed entity of a Debtor or Debtor-Controlled Entity pursuant to and in a manner consistent with Section 15.2 of the Plan.
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.
Cheers!
you are right Cheezy! The very fact that LBHI offered J shares to Ecaps back then is a great indicator that LBHI intends for the J's to continue and have value.
cheers!
Nice job SwissCheese!
Maybe LBHI has 24,300,000 LEHJQ shares in the OBS also...
$60,000,000,000 just waiting to get reactivated by the closing of the Plan Trust???
I like the sound of that! Where else could the old J shares be located...if ALL shares of LBHI have been cancelled.
cheers
Thanks Toogoodfella. I was just wondering how these J’s would get issued when ALL stock shares were cancelled way back and holders were escrowed.
So many moving parts in this bankruptcy…
Cheers
24,339,000 X $2500 = $60,800,000,000
Would it be correct to say these J shares are held at LBHI treasury?
These J shares are registered with SEC but never sold/issued to the public or to other firms?
Cheers!
Truer words have never been spoken!
"The outcome of this case was decided before September 15, 2008."
THANK YOU SWISS! THAT’S BIG STUFF. WHY ARE WE SCREAMING?
CHEERS!
That’s big stuff Toogoodfella! Thanks for the reminder on that math. You are a great contributor to this board…keep it up brother!
Well you already knew they bought/stole the Lehman’s retail unit in USA.
I believe it simply means after 1 month he’s in the clear with respect to any errors or omissions during his time at the administration.
They don’t actually know if there are omissions yet.
Cheers
I hear ya. I just want LBHI back as a going concern one day…soon.
In 2008 I had never heard of Lehman Bros., but I saw the bankruptcy as 100% bullish!t and a deepstate clusterf@ck. When LBHI rises from the ashes it will be a glorious day and we all will be in a small group of rich sombitches!
It was in cottons post…but here ya go!
https://www.pwc.co.uk/services/business-restructuring/administrations/lehman/lehman-brothers-international--europe----in-administration---res.html
Best news in 13 freakin years!
Cheers!
Cotton, I’m reposting because I don’t think it sunk in with the gang.
Just in case y’all missed it…this was published 2 days ago in the UK. “Hand back control to its directors in due course”! Hell yeah! Lehman news hardly gets any bigger than that!
Russell Downs has made a very significant contribution to the success of the Administration over many years, most notably the approval, sanction and implementation of the Surplus Scheme, which enabled the distribution of the LBIE surplus to creditors and now shareholders. The strategies put in place by Mr Downs have led to the resolution of a number of significant matters such that the Administrators now consider that the objective of the Administration is to rescue the company as a going concern and hand back control to its directors in due course.
That’s a good one Cotton!
I like this paragraph even more…
“The strategies put in place by Mr Downs have led to the resolution of a number of significant matters such that the Administrators now consider that the objective of the Administration is to rescue the company as a going concern and hand back control to its directors in due course.”
Thanks Cotton. Does LAMCO have anything to do with this bankruptcy today?
Cheers
I’m lost in the weeds here…
Why are we talking about LAMCO LLC?
Does it even exist at all and if so, is it doing something in connection to this bankruptcy?
Cheers all!
Of course I will! See you there…
Gotta git r done Joisey Boy!
Very nice! Thank you for clarifying that Cottonisking!
Hey brother Cotton, below is the wiki definition of an executory contract. Do our CTs fit this definition? Not arguing…just trying to understand fully. Cheers!
An executory contract is a contract that has not yet been fully performed or fully executed. It is a contract in which both sides still have important performance remaining. However, an obligation to pay money, even if such obligation is material, does not usually make a contract executory. An obligation is material if a breach of contract would result from the failure to satisfy the obligation. A contract that has been fully performed by one party but not by the other party is not an executory contract.Wikipedia
Daddy likes the sound of that!
“Although we should see all equities are back to the beneficiaries prior to the dissolution.”
Question for you Toogoodfella…
How do you see it working for all equities to go back to the beneficiaries?
I know we have an escrow place card for the shares, but do you see our canceled common shares being somehow reinstated? Or are you saying new shares will be created?
Cheers!
You guys are amazing! Seriously, all of you could be detectives…
Keep it going. We must be close by now.
Thanks Cotton. How about for the former equity holders, now a beneficiary in the Plan Trust. Do you think the term “stock distributions” also means new shares, yet to be created or is there a chance the old shares, now escrowed, could be revived?
Open question for the board…
What exactly are “stock distributions”?
1. Do they mean new shares of a stock symbol yet to be created?
Or…
2. Do they mean cash for former equity shareholders, now with an escrow marker for possible future payment?
Or something else?
Cheers all!
Keep it up grilled cheese! Yer onto something big!
Thanks Cheese!
Let’s git r done!
Or, it could mean...
LBEI, as a NON-regulated financial institution is a free bird to begin the transition to a UK based Cryptocurrency DeFi institution...
Oh and by the way...when Lehman Bros does one day become a crypto based bank, I want everyone on this board to send me an electronic slap on the bank and simply say "You were right Jimbo! Damn yer a smart guy!"
Good explanation Mr. Argus! Thank you
From Cottons post…“If the application is approved, it will mean that LBIE will no longer be a regulated financial institution.”
I’m just saying that statement doesn’t sound like good news…but what do I know, maybe it’s great news and we’ll be paid in full next week!