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The Court system is organized under the Treasury Department. Get it?
"“ They just need to stay clear of any actions of the conservator and there will be none of the legal nonsense we have witnessed over the last 15 years or so.”" Hello - Lamberth just ruled that damages be paid to the plaintiffs. Damages are a distribution and distributions are not allowed in conservatorship. How is FHFA/TSY going to get around this one?
Navy, if this post is true, this is why Yellen needs to know about the letter. Yellen may not know she can write the letter without ST's okay.
TightCoil 📷
2:12 PM
Post #770,897
Re: #770,886: @TightCoil - Treasury, FHFA conflict brewing soon-to-be-released SCANDAL. Mark this pos
From what I've learned, the subject of this "soon-to-be-released" scandal involves a conflict regarding illegal discrimination against Black shareholders as a result of imposition of the Conservatorship. Treasury, which is "closer" to the Administration and the Constitution than the FHFA, feels that they must do one of two things; 1) provide reparations to those Black shareholders (and other minority shareholders), or 2) begin the process of releasing Fannie and Freddie.
Queen Thompson's stance is "I won't have either, period."
How do they know if I'm black, white or yellow?
Yesterday, 6:57 PM
I had to inform them of this:
profile icon
camaro4me Free 21 seconds ago
Post #770,918
Re: #770,886: @TightCoil - Treasury, FHFA conflict brewing soon-to-be-released SCANDAL. Mark this pos
Tell Treasury this. We have a jury verdict in favor of plaintiffs, FHFA lost. Once Lamberth rules with the jury verdict, Treasury can write the letter. FHFA has zero say in it.
https://fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/SPSPA-amends/FNM-SPSPA_09-07-2008.pdf
Yesterday, 7:06 PM
have to expand the post to see the whole thing
Yesterday, 7:11 PM
·
Navy - best post ever - please make sure Yellen gets it!
Boooooom ! https://t.co/5KebMcVZhH
— Cmdr Ron Luhmann (@usnavycmdr) October 15, 2023
6.7. Effect of Order; Injunction; Decree. If any order, injunction or decree is issued by any court of competent jurisdiction that vacates, modifies, amends, conditions, enjoins, stays or otherwise affects the appointment of Conservator
Tell Treasury this. We have a jury verdict in favor of plaintiffs, FHFA lost. Once Lamberth rules with the jury verdict, Treasury can write the letter. FHFA has zero say in it.
https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/SPSPA-amends/FNM-SPSPA_09-07-2008.pdf
6.7. Effect of Order; Injunction; Decree. If any order, injunction or decree is issued by any court of competent jurisdiction that
vacates, modifies, amends, conditions, enjoins, stays or otherwise affects the appointment of Conservator as conservator of Seller or
otherwise curtails Conservator’s powers as such conservator (except in each case any order converting the conservatorship to a
receivership under Section 1367(a) of the FHE Act), Purchaser may by written notice to Conservator and Seller declare this Agreement
null and void, whereupon all transfers hereunder (including the issuance of the Senior Preferred Stock and the Warrant and any funding
of the Commitment) shall be rescinded and unwound and all obligations of the parties (other than to effectuate such rescission and
unwind) shall immediately and automatically terminate.
6.12. Non-Severability. Each of the provisions of this Agreement is integrated with and integral to the whole and shall not be
severable from the remainder of the Agreement. In the event that any provision of this Agreement, the Senior Preferred Stock or the
Warrant is determined to be illegal or unenforceable, then Purchaser may, in its sole discretion, by written notice to Conservator and
Seller, declare this Agreement null and void, whereupon all transfers hereunder (including the issuance of the Senior Preferred Stock
and the Warrant and any funding of the Commitment) shall be rescinded and unwound and all obligations of the parties (other than to
effectuate such rescission and unwind) shall immediately and automatically terminate.
Tell Treasury this. We have a jury verdict in favor of plaintiffs, FHFA lost. Once Lamberth rules with the jury verdict, Treasury can write the letter. FHFA has zero say in it.
https://www.fhfa.gov/Conservatorship/Documents/Senior-Preferred-Stock-Agree/FNM/SPSPA-amends/FNM-SPSPA_09-07-2008.pdf
6.7. Effect of Order; Injunction; Decree. If any order, injunction or decree is issued by any court of competent jurisdiction that
vacates, modifies, amends, conditions, enjoins, stays or otherwise affects the appointment of Conservator as conservator of Seller or
otherwise curtails Conservator’s powers as such conservator (except in each case any order converting the conservatorship to a
receivership under Section 1367(a) of the FHE Act), Purchaser may by written notice to Conservator and Seller declare this Agreement
null and void, whereupon all transfers hereunder (including the issuance of the Senior Preferred Stock and the Warrant and any funding
of the Commitment) shall be rescinded and unwound and all obligations of the parties (other than to effectuate such rescission and
unwind) shall immediately and automatically terminate.
6.12. Non-Severability. Each of the provisions of this Agreement is integrated with and integral to the whole and shall not be
severable from the remainder of the Agreement. In the event that any provision of this Agreement, the Senior Preferred Stock or the
Warrant is determined to be illegal or unenforceable, then Purchaser may, in its sole discretion, by written notice to Conservator and
Seller, declare this Agreement null and void, whereupon all transfers hereunder (including the issuance of the Senior Preferred Stock
and the Warrant and any funding of the Commitment) shall be rescinded and unwound and all obligations of the parties (other than to
effectuate such rescission and unwind) shall immediately and automatically terminate.
Lamberth trial is not about nws, it's about fees beginning 2016. This case has already gone to scotus and sent back to district court. No more returns to scotus.
Where do you see that? Thx.
minute 29:40
The delay may be weather related.
Error in section 2c
Looks like they plan to liquidate CTs
Is there a particular part of the complaint they have to amend ?
FNMA common shares are not included in the class action lawsuit because none of the plaintiffs own FNMA shares.
The plaintiffs are listed in the letter.
Thank you Cotton.
Is that a recent opinion Cotton? Thanks
That is, all the debtors are closed.
How can our dividends be distributed to higher classes of debtors when their status is closed?
From epiq:
Debtors
Case No. Date Filed Debtor Status
08-13555 09/15/2008 Lehman Brothers Holdings Inc.
08-13600 09/16/2008 LB 745 LLC Closed
08-13664 09/23/2008 PAMI Statler Arms LLC Closed
08-13885 10/03/2008 Lehman Brothers Commodity Services Inc. Closed
08-13888 10/03/2008 Lehman Brothers Special Financing Inc. Closed
08-13893 10/03/2008 Lehman Brothers OTC Derivatives Inc. Closed
08-13899 10/05/2008 Lehman Brothers Derivative Products Inc. Closed
08-13900 10/05/2008 Lehman Commercial Paper Inc. Closed
08-13901 10/05/2008 Lehman Brothers Commercial Corporation Closed
08-13902 10/05/2008 Lehman Brothers Financial Products Inc. Closed
08-13904 10/05/2008 Lehman Scottish Finance L.P. Closed
08-13905 10/05/2008 CES Aviation LLC Closed
08-13906 10/05/2008 CES Aviation V LLC Closed
08-13907 10/05/2008 CES Aviation IX LLC Closed
08-13908 10/05/2008 East Dover Limited Closed
09-10108 01/07/2009 Luxembourg Residential Properties Loan Finance S.a.r.l. Closed
09-10137 01/09/2009 BNC Mortgage LLC Closed
09-10558 02/09/2009 Structured Asset Securities Corporation Closed
09-10560 02/09/2009 LB Rose Ranch LLC Closed
09-12516 04/23/2009 LB 2080 Kalakaua Owners LLC Closed
09-17331 12/14/2009 Merit LLC Closed
09-17503 12/22/2009 LB Somerset LLC Closed
09-17505 12/22/2009 LB Preferred Somerset LLC Closed
Very true Cotton.
Where is LBHI's money going to? CTs should get all the money as LBHI classes are closed.
They could have a 26th distribution.
Sorry.
How long do you think we have to wait to wrap this up after the October distribution?
1 month?
3 months?
You think distribution # 25 is the last, or are we done on April 6, 2022
Thank you Cotton for the reminder.
Got it. Thank you.
Hundreds of hours is hardly any time at all
Bankers Automated Clearing Services Questions:
121. I am a current or former employee of Lehman residing in the United Kingdom and I
received a letter requesting my bank information. What is this letter?
This Bankers’ Automated Clearing Services (“BACS”) notice and form were mailed to all current
or former employees of Lehman residing in the United Kingdom who will be receiving a
distribution from Lehman in the next distribution. In order to receive a distribution, you must
complete and submit the BACS form to Epiq so that it is received no later than March 6, 2022.
122 When is the BACS (Bankers’ Automated Clearing Services) form due?
For the April 6, 2022 distribution, the BACS form submission deadline is March 6, 2022.
123. Why do I need to complete a BACS form?
In order to allow Lehman Brothers Holdings Inc. to pay you directly into your bank account, you
are required to complete this form and return it to Epiq.
124. Do I have to complete a BACS form for each distribution that I am to receive from
Lehman?
No, by completing the BACS form and returning it to us, you acknowledge that you are asking for
all future payments from Lehman Brothers Holdings Inc. to be paid into the account you listed on
the form. To change the nominated bank, you must complete and return a further BACS form.
Answers to Frequently Asked Questions (March 3, 2022)
Page 24 of 24
125. Where do I need to return my completed BACS form?
You can return the attached form to Epiq by any of the following methods:
E-mail: LBHI-NOTICING@epiqglobal.com
Fax: (+1) 601-812-6241
Lehman Brothers Holdings Claims Processing
First-Class Mail: c/o Epiq
PO Box 6389
Portland, OR 97228-6389
Hand Delivery, Overnight mail or
Courier requiring a signature:
Epiq
Lehman Brothers Holdings Claims Processing
10300 SW Allen Blvd.
Beaverton, OR 97005
126. I am a current or former Lehman employee residing in the United Kingdom, why didn’t I
get a distribution?
If you are a current or former Lehman employee residing in the United Kingdom and you did not
return your BACS form, then you did not receive a distribution.
Can someone please pass this up to the plaintiffs?
"In New York, consumer lawyers want to revive a dismissed case alleging America’s largest banks defrauded investors out of more than $7 billion in bond deals."
https://www.wsj.com/articles/fallout-from-judges-financial-conflicts-spreads-to-appeals-courts-11646155384
Thx Cotton
Are you saying that on March 17, 2022 (April 6 - 20 days) CT holders get a distro?
It's March 2022 now. What's going to happen?
They've gone from $450M to $175M in 1 month?
Amen to that
Yes
Sec of State Blinken making strong statements that Russia is breaking international law and US and allies are willing to take action.
Please rescue us
Are we all good with thinking that this will be over by end of year?
Waiting waiting.
Just what does it mean to answer shortly?
Thank you for your response.
LBT and LBHI - is there any way we can tell how many claims are left? Will it be over 2023 or do we have to wait? IDK if there is a way we can tell. I can't find outstanding claims in epiq.
Good Luck To Us All
We know LBI's distributions are coming to an end likely by October.
Looks like we need to find the end of distributions for LBI and LBIE
>>
I checked epiq website for lbhi overview. All debtors are in closed status except lbhi.
Anyone know how to check claims status for lbhi?