Any posts are my opinion, and should not be relied on for your investment decisions.
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Yes, see you in DC beta. Looking forward to it.
No, only previous WAMU equity holders have escrows. They are non-transferable.
The 1/5/15 date is for the pref offering to be complete. Nothing more...yet.
To be fair, I think any posts to be sticky need to have a few others on the board that support the highlighting of the post.
Daisy's post is old and should be taken down (didn't happen). Your post is stickied because you recently asked to become a mod and placed your own note to highlight it.
In its current form, I do not think your post should be a top note. It does not link a new reader to any factual informational sources (POR, court docs, balance sheets, etc.) My vote is to remove it.
Add some documents and spell out specifically when your opinion is given and I agree it could add balance. Per you earlier posts, you should also disclose that you hold no CT shares of Lehman. That would be balanced.
Any of the moderators can add/remove sticky notes. I see you have asked to become a mod recently, did you sticky your own post 52150?
Mods please remove 47184 from the sticky notes. I don't understand why post 52150 is a sticky note? These specific notes should only be those with documents or articles (factual info) to help anyone research/verify independently.
Opinions should be left as normal posts for discussion.
This will lead to a faster market presence in the Alt-qm. Eager to see the terms at this point.
Will be looking to add more as dry powder becomes available.
Thx DP. I like the last couple of lines...
Ashmore called non-QM programs “sorely needed” because of a vast self-employed market.
“It’s a huge underserved market that will eventually be billions in size,” he said.
Sidedraft, good to see you here. Innkeepers prefs were fun. Wish I had bought a boatload more of those. Hope to catch some good upside here.
I agree pickup would not have to disclose. These prefs are on the OTCQB and would not require reporting (similar to FMCC and FNMA).
IMH commons are on the NYSE (insider reporting required).
90 million more for the LBHI estate is all I gathered from the article.
Nice write-up. Thanks Blue. I agree and had a target of 1Q 2015 (I was not specific to Jan, but sometime in 1Q). I have been adding under $2.
Happy Thanksgiving to everyone. Best JW
GL Nella
You may have to get them 200-500 at a time (the order will cost more to execute)...
Time and Sales for LEHMAN BROS HLD C/T III K (LEHKQ) Nov 25, 2014
Symbol:
Time Price Volume Market
10:16:53 0.075 300 OTO
09:38:35 0.1596 2000 OTO
Time and Sales for LEHMAN BROS HLDG C/T VI N (LEHNQ) Nov 25, 2014
Symbol:
Time Price Volume Market
11:13:46 0.2293 1 OTO
10:44:18 0.09 500 OTO
10:19:48 0.09 200 OTO
09:33:04 0.165 4900 OTO
Petition on move on
http://petitions.moveon.org/sign/correcting-mistakes-fannie?source=s.em.cp&r_by=11584876
Join investors unite to make our shareholder voices heard in D.C.
http://investorsunite.org/about-us/
Petition on move on
http://petitions.moveon.org/sign/correcting-mistakes-fannie?source=s.em.cp&r_by=11584876
Join investors unite to make our shareholder voices heard in D.C.
http://investorsunite.org/about-us/
Petition on move on
http://petitions.moveon.org/sign/correcting-mistakes-fannie?source=s.em.cp&r_by=11584876
Join investors unite to make our shareholder voices heard in D.C.
http://investorsunite.org/about-us/
Also, if an acquisition were near. I suspect the acquired company would be accumulating knowing the deal unlocks value for both WMIH and them.
Lower pps allows lower cost accumulation (sorry for being capt obvious).
The 1 month Accum/Distro line is pointing up, but pps keeps falling. Suggests positive divergence.
The 1 month OBV line is negative, suggests small/few buyers (holidays).
Overall, just looks like small trading going on right now. Large holders holding.
The pps decline shows no conviction at this point.
Its the holidays and pps is being pushed around on VERY low volume. Any deal that WMIH decides to execute will take time to formalize (several months at least). WMIH will not publicly disclose anything and should not to maximize negotiating power.
I have added some with the drop in price (below $2). Yes it could go lower. Averaging down is best.
GLTA JW
Agree TM, they should be on the big boards. WSJ has been worse.
For those GSE longs. Encourage everyone to join investors unite. Our last conference call had great presentations by Dr. Rossi (comprehensive paper re: path out of c-ship) and Matt Seu (he served as VP at Freddie Mac where he focused on large scale business and technology change efforts)
Titled Forging a Path Out of Conservatorship for Fannie Mae and Freddie Mac, the paper demonstrates how the Federal Housing Finance Agency (FHFA) has the statutory authority to end the conservatorship — despite the fact that after 6 years, and $218 billion in realized profits offsetting the government's 2008 cash infusion, it has refused to do so. Pagliara, Rossi and restructuring expert Matt Seu discussed how FHFA can release Fannie and Freddie from the conservatorship and begin the process of re-capping and reforming them.
http://investorsunite.org/
For those GSE longs. Encourage everyone to join investors unite. Our last conference call had great presentations by Dr. Rossi (comprehensive paper re: path out of c-ship) and Matt Seu (he served as VP at Freddie Mac where he focused on large scale business and technology change efforts)
Titled Forging a Path Out of Conservatorship for Fannie Mae and Freddie Mac, the paper demonstrates how the Federal Housing Finance Agency (FHFA) has the statutory authority to end the conservatorship — despite the fact that after 6 years, and $218 billion in realized profits offsetting the government's 2008 cash infusion, it has refused to do so. Pagliara, Rossi and restructuring expert Matt Seu discussed how FHFA can release Fannie and Freddie from the conservatorship and begin the process of re-capping and reforming them.
http://investorsunite.org/
The Bloomberg article is a hack job. Fairholme stated only this on the 13F-HR, nothing about common sales.
"For purposes of this Form 13F-HR for the third quarter of 2014, the filer is not disclosing its holdings in both Federal Home Loan Mortgage Corp and Federal National Mortgage Association, because such securities are not included on the Official List of Section 13(f) securities released by the Securities and Exchange Commission."
http://www.sec.gov/Archives/edgar/data/1056831/000091957414006682/xslForm13F_X01/primary_doc.xml
More info here...encourage others to join investorsunite. IU has provided some good insight and truth about what is going on with the GSEs. The press (Bloomberg and WSJ more specifically) are spinning nothing but mis-information.
http://investorsunite.org/discussion/topic/fairholme-exits-common-stock/
The Bloomberg article is a hack job. Fairholme stated only this on the 13F-HR
"For purposes of this Form 13F-HR for the third quarter of 2014, the filer is not disclosing its holdings in both Federal Home Loan Mortgage Corp and Federal National Mortgage Association, because such securities are not included on the Official List of Section 13(f) securities released by the Securities and Exchange Commission."
http://www.sec.gov/Archives/edgar/data/1056831/000091957414006682/xslForm13F_X01/primary_doc.xml
More info here...encourage others to join investorsunite. IU has provided some good insight and truth about what is going on with the GSEs. The press (Bloomberg and WSJ more specifically) are spinning nothing but mis-information.
http://investorsunite.org/discussion/topic/fairholme-exits-common-stock/
Nella,
We knew the plan trust could be extended up to three years and it has been.
From the POR re: liquidating trust, "may extend over a longer period of time if the Debtors receive a private letter ruling or other equivalent guidance from the IRS from which the Plan Administrator reasonably concludes that the continued wind-down and liquidation should not result in a reduction or limitation of the Debtors’ tax attributes for federal income tax purposes that materially impairs the expected actual use of such tax attributes."
All I have seen is the signed order to extend the plan trust (below). Nothing I have seen about extending the stay.
46954 11/14/2014
Order Extending the Term of the Plan Trust to 12/6/17 (Related Doc # [46509]) signed on 11/14/2014 (White, Greg)
Case: Lehman Brothers Holdings Inc.
Related: 46509
http://dm.epiq11.com/LBH/Document/GetDocument/2540081
CEOs, Boards, and Buffet like tax savings.
http://finance.yahoo.com/news/buffett-set-save-more-1-175018656.html
Just need to get the right acquisition(s) for WMIH. Hopefully soon. Added some here around $1.80
Yes they are Argus. GLTY as well. Funny only 754 shares of the N's were traded for .08 today. The majority were .17 to .22.
15:54:00 0.0801 394 OTO
15:50:02 0.17 10000 OTO
15:29:21 0.17 1000 OTO
14:18:31 0.17 800 OTO
13:46:16 0.2196 20590 OTO
13:46:04 0.219 910 OTO
13:14:20 0.17 1235 OTO
13:07:23 0.1606 12000 OTO
12:53:00 0.0801 360 OTO
12:51:11 0.1606 235 OTO
12:51:08 0.1605 5000 OTO
12:50:58 0.1605 6765 OTO
12:34:36 0.1606 600 OTO
12:33:16 0.1606 2000 OTO
12:10:10 0.1606 7130 OTO
12:07:52 0.1606 4870 OTO
12:07:01 0.1607 5130 OTO
12:04:57 0.1607 4830 OTO
11:41:38 0.17 3670 OTO
11:41:34 0.18 1500 OTO
11:39:15 0.17 1000 OTO
09:56:41 0.1799 3000 OTO
09:32:35 0.1501 300 OTO
Exactly indepth. No volume = no sell conviction. At this point, its pps manipulation on anemic volume.
thanks 44 for posting.
So with these two trades most stops would have been triggered on a price and percentage basis-
$0.2399 500 OTO 11:00:03
$0.0701 56 OTO 10:15:34
I second that. Thanks Cotton.
I just checked scottrade. Nothing has changed for my pref escrow or CTs.
Whatever cash they could raise and distribute this year = higher bonus for the BOD, A&M, etc. next year and every year after it drops significantly.
Also, IMHO the quicker and higher recoveries will give the estate more flexibility/latitude with the Bk court.
Extension request is for "up to 3 years."
The extension has been filed and is just waiting for the judge to sign it. Objections had to be filed by 10/24 and it appears none were filed.
46807 11/03/2014
Statement of No Objection : Certificate of No Objection Under 28 U.S.C. 1746 Regarding Motion of Lehman Brothers Holdings Inc. for Extension of the Term of the Plan Trust (related document(s)[46509]) filed by Jacqueline Marcus on behalf of Lehman Brothers Holdings Inc.. (Marcus, Jacqueline)
Case: Lehman Brothers Holdings Inc.
Related: 46509
Its highlighted in the 2014+ cash flow estimate (see page 17).
From pg 17-
Recoveries from Non-Controlled Affiliates
The Company estimates that 2014+ Recoveries from
Non-Controlled Affiliates will be $14.3 billion during
the Estimate Period.
Recoveries from Non-Controlled Affiliates represent
estimated recoveries on intercompany claims against
affiliates of the Company that were not managed or
controlled by a Debtor as of the Effective Date,
including all affiliates that are subject to separate
proceedings in the U.S. or abroad.
Estimates of recoveries from Non-Controlled
Affiliates are subject to substantial timing
uncertainties. As such, consistent with prior
disclosures, the Company has estimated totals for
such recoveries in the 2014+ Cash Flow Estimates,
but does not provide estimated timing of these
recoveries.
Estimates of recoveries from Non-Controlled
Affiliates, with the exception of LBI-related
recoveries as discussed below, are based on
information obtained from both Non-Controlled
Affiliates’ fiduciaries, which have in many cases
increased their own estimates, as well as information
obtained by the Company through settlement
negotiations, involvement on creditors’ committees
and ongoing cooperative exchanges. Actual
recoveries from Non-Controlled Affiliates may vary
materially from estimates included herein
Strictly for purposes of this presentation of the
Company’s 2014+ Cash Flow Estimates:
Estimates of future recoveries related to the
Company’s remaining general unsecured claims
against LBI (“LBI GUC”) are calculated based
on 45.0% of face value, an approximation of
recent market value.
Estimates of future recoveries related to the
LBIE JV are excluded from the estimates
herein. ...The Company expects that the actual amounts
of future recoveries related to LBIE and the
LBIE JV will be material however, the final
outcomes are contingent on a number of factors
outside of the Company’s direct control and are
thus highly uncertain.
Goldman is buying up claims over last couple weeks in class 5.
Class 5, Senior Third-Party Guarantee Claims against LBHI (Goldman is buying Lehman Brothers Treasury Co B.V. claims against LBHI more specifically).
Appears GS knows something. Likely that distros will continue after the request to lockup the OBS for up to an additional 3 years.
Cotton,
Are you thinking the CTs could force chap 7 after the stay is lifted? The trust is non-debtor and still intact.
I'm west coast, but did notice big spread on all the GSE prefs. Wish I could have sold some CTs at $29.99 LOL.
Have a good weekend all.
PS- the 3yr extension request on the OBS trust...is the estate expecting additional NOLs (investments in affiliates) to be realized shortly and needs the ability to control ownership changes? Thoughts?
OTC trading was halted today on all OTC listed stocks. OTC is back up as of 1pm ET.
Good write-up of NOL examples.
https://view.officeapps.live.com/op/view.aspx?src=http%3A%2F%2Fwww.nationalbankruptcyconference.org%2Fimages%2FNYI_4075744_5_PLI%2520Tax%2520Attributes%2520-%25202008.DOC
Section on page 15 starts with-
5. In a limited set of circumstances, debtors can undergo a change of ownership in bankruptcy and emerge without any 382 limitation on their attributes, be they NOLs or built-in loss. In order to qualify for this election23 (the "382(l)(5) Election" or simply "L5"), the following criteria must be met:
-- shareholders and qualified creditors of the loss corporation must end up owning at least 50% of the reorganized debtor's stock (by vote and value)
-- those shareholders and creditors must receive their 50% stock ownership in discharge of their interest in and claims against the debtor; and
-- stock is received by qualified creditors only if and to the extent that it is received in satisfaction of indebtedness that (a) had been held by the creditor for at least 18 months on the date of the bankruptcy filing (i.e., was "old and cold"), or (b) arose in the ordinary course of the debtor's business.
23 For ease of exposition, I will treat section 382(l)(5) as elective, even though the statute rather curiously works the other way: the 382(l)(6) rule, which clearly predominates in the real world, is technically elective, whereas the 382(l)(5) rule, which is used only occasionally but is potentially very valuable, is the default setting.
24 Although the statute does not itself create any holding period requirement, the IRS has suggested informally that transitory ownership of stock by qualified creditors may not be respected. See CCA 200444002 (July 22, 2004) (in outlining steps that should be taken in auditing loss corporation in a 382(l)(5) case, Service should “verify that a sufficient proportion of qualified creditors (preferably 50 percent) retained their stock in Reorganized Debtor for a reasonable (not transitory) period of time after the bankruptcy plan is consummated.”) See generally Berg and Mahmoudov, “Selected Federal Income Tax Issues Arising in Corporate Debt Restructurings,” 789 PLI/Tax 151, 220 (2007).
...
Its the one from 2009 on CNBC "the unwinding of lehman brothers" It is 20:53 min long
Yep, read that years ago and it has been posted few times here and on yahoo msg board.
Listen to Bryan Marsal interview (15:20 min mark, specifically talks about illiquid assets and issuing new stock).
https://www.bing.com/videos/search?q=bryan+marsal+lehman+brothers&FORM=HDRSC3#view=detail&mid=C85DA97BEA0D035F3465C85DA97BEA0D035F3465
Read this bio at A&M...
http://www.alvarezandmarsal.com/stephanie-deyoung