Any posts are my opinion, and should not be relied on for your investment decisions.
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The author is EVP at Carrington Holding Co. They would love the GSEs to go away...
http://carringtonhc.com/WhoWeAre/OurCompanies
Please, lets get back to any information gathering instead of the basher/pumper discussion. Lets work with facts when found and keep the personal attacks offline.
Nothing has changed IMHO. Still holding and tried to buy some from Guster on Fri. (Gus, If it does not work out with Wayne and LD I will take 100K of the 200k at a fair price).
The FAQ had pretty much the same info as before. It is still unknown if equity will recieve a distro at this point.
GLTA
JW
Someone paid to write an article is not a good comparison to someone posting on a free message board for free with no vested interest.
GLTA
Always good to hear opposing views from those with a vested interest.
Please refer back to my earlier posts, I do not think the amount will be near the 100% to the CTs. I do think that we will see some $$, likely in the 5-10% range over a longer period.
Later we could get more from a monetization of NOLs and illiquid assets. Big maybe and too many variables weighing on that outcome to value now.
Time and Patience. In the end I'll likely be happy.
It could also be that price is run up end of day. Retail investor typically uses stop loss in the wrong places and set after hours to lock in perceived gains. Come back next morning and buy up retails at a nice discount (take out stop loss orders). Repeat daily to accumulate.
Also, it is likely someone with deeper pockets executing such small block trades EOD (the trade would cost more than the amount of the transaction for either buyer or seller).
The "pumping" or positive view has always been here. Its the "bashing" or negative view that has now increased significantly.
Thanks for posting.
Looks like its back online (YMB). Offline again. Must be having server issues. Some other boards are not working also.
See the EPIQ page (distributions and claims) -
http://dm.epiq11.com/LBH/Project#
Middle of the right hand side of the web page...
"Holders of debt securities issued by LBHI for which an indenture trustee is the claim holder do not need to provide to the Debtors a Tax Form or OFAC Certification in order to receive a distribution. The Indenture Trustees are required to provide such forms to the Debtors relating to the claims."
Some movement on class 11 and UK pref securities (creditors were trying to hold LBHI responsible for full payment, but only reduced amounts were allowed).
See dockets below...
42408 01/31/2014
Order Signed on 1/31/2014 Granting the Four Hundred Fifty First Omnibus Objection to Claims (Preferred Securities Claims). (Related Doc # [41670]) (Nulty, Lynda)
Case: Lehman Brothers Holdings Inc.
Related: 41670
Documents
42407 01/31/2014
Order Signed on 1/31/2014 Granting the Four Hundred Fifty-Second Omnibus Objection to Claims (510(b) Claims). (Related Doc # [41672]) (Nulty, Lynda)
Case: Lehman Brothers Holdings Inc.
Related: 41672
Agree Bluee,
Can't wait for the target to be revealed.
Best JW
RE: the Ns - it was thought that most of them are held by one or a few large holders (cannot be brought back to pinks unless 250+ holders are out there).
Also, used S404 provided website to try and lookup N ownership...
http://stockzoa.com/cusip/52520X208/
Here it is for the Ks (the cusips for K,L,LHHMQ all work OK).
http://stockzoa.com/cusip/52519y209/
RE: the Ns - it was thought that most of them are held by one or a few large holders (cannot be brought back to pinks unless 250+ holders are out there).
Also, used S404 provided website to try and lookup N ownership...
http://stockzoa.com/cusip/52520X208/
Here it is for the Ks (the cusips for K,L,LHHMQ all work OK).
http://stockzoa.com/cusip/52519y209/
Link to this information?
My ratio of CTs to Js is 3 to 1 (3 times more cts than pref Js)
Innkeepers was great. Of course wish I had a great deal more shares. It was actually a ~8700% return (bought .003, distro .26).
I hold Leh CTs and also Leh pref (J's). I think both will see some money. If the NOLs can be fully monetized at a later date, then I also think we will be pleasantly rewarded for a long wait.
I bought in late for innkeepers. I think they got 3 total distributions ~1.26-1.75 total for each $25 pref. I picked up about 30000 @.003 or less a few months before the final distro of ~.26.
It still looks like I have an escrow placeholder, but I doubt if any additional $$$$ will be coming in.
Thx stock. Really thought we had some good news. Hopefully we'll get something concrete in the coming weeks.
best jw
Innkeeper pref. We just got another distro in late December ~.26 per share. It was labeled as final distribution. The shares are still sitting in my Scottrade acct similar to the lehman escrow for the leh prefs.
Thanks Charles. Strange that the signed agreement and the docket title had our claim number. Thought the info was good, but agree it is a few typos. Sorry all. False alarm.
best jw
No mistake, (2) claims were part of the deal 28104 and 21805. Once you open the docket file look at the claim numbers that were transferred 21805 was signed off on by both parties.
See dockets 42189 and 42188 (page 4)
Claim #21805 is for LEHKQ
http://dm.epiq11.com/LBH/Claim#Claim=21805&ds=true&ex=false&maxPerPage=25&page=1
Would really like to know how much Deutsche paid for these. We'll likely never know.
Deutsche Bank gathering $25M worth of CT claims (LEHKQ) on 1/24.
Claim 21805 $314,207,500 CUSIP 52519Y209 - LEHKQ
See dockets 42189 and 42188
http://dm.epiq11.com/LBH/Docket#Debtors=1906&DocketText=21805&RelatedDocketId=&ds=true&maxPerPage=25&page=1
I like Mojos much better as well. My estimates are hopefully on the conservative side.
Best JW
See my post #36676. I do believe we will get a pro rata portion of available cash over next few years. Ultimately, all the small payments will add up to 5-10% of CT Face Value (1.25-2.50).
Also, we will get $$$ when they monetize the NOLs.
I could see some lower probability scenarios where the estate attempts to pay us and get us out of the way earlier.
I disagree, it does look like the reallocation will end soon. Then we will receive small cash distributions twice a year until POR is closed. We will know more additional details soon enough.
Even if we do not see a distro in April, I will still be holding all my CTs for the end payout (could be 2017 or later). The potential return more than justifies the wait
Best JW
dp
For more detail, look at the two published LBHI estate cash flow estimates (2012 and 2013+).
Look at 2012 first, then look at 2013+. If the trajectory of upper tier claim reductions + asset price increases + other found sources of revenue, then the 5-10% may be low.
http://dm.epiq11.com/LBH/Document/#maxPerPage=25&page=1
Lower tier equity (prefs and common) cannot see a cent until the CTs are paid in full. The CTs rank as Sr to all other pref.
I also think that under the POR distributions will be smaller % (5-10%).
The CTs value will be greatest when the POR is closed out and LBHI goes to monetize NOLs with whatever illiquid assets are left. They are Sr to all pref/equity in payment.
Full disclosure - I own CTs and some prefs.
Best JW
That's the SIPA proceedings EPIQ site.
You should only be looking here-
http://dm.epiq11.com/LBH/Project#
The 510(b) claims are in class 11 (just below our 10B). Looks like UBS portion of 510(b),class 11 was part of the hearing in Jan (1/28/2014)...now TBD. UBS possibly holding out for more $$$.
See docket 42165 01/23/2014
Notice of Adjournment of Hearing / Notice of Adjournment Sine Die of Four Hundred Forty-Ninth Omnibus Objection to Claims (510(b) Claims) Solely as to a Certain Claim (related document(s)[41664]) filed by Robert J. Lemons on behalf of Lehman Brothers Holdings Inc.. (Lemons, Robert)
Case: Lehman Brothers Holdings Inc.
Related: 41664
Here is one possible theory...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96198525
Great advice, except you cannot buy LEHMQ anymore...shares were cancelled in 3/2012. All Lehman prefs and commons (lehmq) were placed into escorw accounts for those who held them prior to 3/2012. They are now class 12 in the chap 11 reorg.
This article only talks about penny stocks. Where is the buy recommendation on lehmq?
GLTA JW
Great advice, except you cannot buy LEHMQ anymore...shares were cancelled in 3/2012. All Lehman prefs and commons (lehmq) were placed into escorw accounts for those who held them prior to 3/2012. They are now class 12 in the chap 11 reorg.
This article only talks about penny stocks. Where is the buy recommendation on lehmq?
GLTA JW
Docket 42153- LBHI settles 18.9B for 2.15B in class 7. Free's up more reserves (5B was orig reserved for this claim).
11. Under the terms proposed in the Settlement Agreement, the Fannie Mae Claim will be reduced from its asserted amount of approximately $18.9 billion and allowed in
the amount of $2.15 billion in LBHI Class 7
Looks like LBHI is also looking to recoup from Mort. Originators...
Page 12
"32. In addition to resolving the Fannie Mae Claim on terms that are favorable to LBHI, the Settlement Agreement also significantly enhances LBHI’s ability to pursue its indemnification claims against the Mortgage Originators. Pursuit of these claims is expected to allow LBHI to recoup substantial recoveries in the form of settlements with, or judgments against, the Mortgage Originators."
This is very interesting (top of page 11, "process of reorg")...
29. “Compromises are a normal part of the process of reorganization.” Prot. Comm. for Indep. Stockholders of TMT Trailer Ferry, Inc. v. Anderson (“TMT Trailer Ferry”),
390 U.S. 414, 424 (1968) ( quoting Case v. L.A. Lumber Prods. Co. , 308 U.S. 106, 130 (1939)).
The decision to approve a particular compromise lies within the sound discretion of the
bankruptcy court. See Nellis v. Shugrue , 165 B.R. 115, 123 (S.D.N.Y. 1994). The court’s
discretion must be exercised “in light of the general public policy favoring settlements.” In re
FWIW, I tried the cusip for LEHNQ at stockzoa -
http://stockzoa.com/cusip/52520X208/
Came up as...
"Page seized
Corporate raiders seized this page so it's no longer available."
All the (3) other CTs cusips worked fine.
JoeS
Recommend you spend time on the league of angels. They need your help. We know the risk here and your efforts are welcomed at the link below...
http://vda.gtarcade.com/?q=131210UbxRC0X&sid=305987777
fannie-freddie-rise-after-senators-offer-hope-to-private-investors
http://www.thestreet.com/story/12218852/1/fannie-freddie-rise-after-senators-offer-hope-to-private-investors.html?puc=yahoo&cm_ven=YAHOO
Good to hear all is ok. Scottrade had issues at the start of trading, but only lasted about 10min. Everyone must be back from vacation.
Letter today from Ralph Nader to Director Watt. Link below...
https://groups.google.com/forum/#!topic/freddienfannie/BINHT0PQJmc
Letgo,
FYI - Appears many cannot access etrade
https://groups.google.com/forum/#!topic/freddienfannie/CEbyGAJ9pfU
http://www.bloomberg.com/news/2014-01-03/lehman-puts-california-coastal-property-on-the-market.html
Gathering up more cash...
The 196 acres are right on the Pacific (overlooking the ocean).
Likely worth 600M to 1B.