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“The psychology of money”
Morgan Housel
Test.
Just to make sure that I'm still in the right place and the discussion isn't being moved to another group!!
Discussion? Lol....
This is an investment that you should not worry about, do not follow closely, and do not try to go back to past news in search of a point of light.
It is an investment that you will wake up one day to find yourself either a millionaire or a loser of a certain amount that you have already forgotten, you have been able to move on with your life during the past 15 years without it, and you will not be able to compensate any part of it if you sell it at current price of $0.003!!
Relax and wait for that day, whether it is tomorrow, in a few months, or next year!!
GLTA
Why can't we simply stop the BS against each others and admit that we were all wrong , All of us , in our approach to this bankruptcy, otherwise we would not have been here and still are here 16 years ago?
Perhaps the smartest among us is the one who lived his life away from LBHi and from BB hopes and wishes for 15 years and bought it before it was suspended from trading a year ago.
More than $115 billion was paid out.
Lehman's 111,000 customers received all $106 billion they were owed, and secured creditors also received full payouts.
Unsecured creditors recovered $9.4 billion, or about 41 cents on the dollar. They were originally expected to recover about 20 cents on the dollar.
Gimme 41 cents on a dollar, that’s $10.25/ share, and I promise to run to the bank ! lol
Oct 21, 2024
Since everyone is trying to throw away a specific date
Agree…
Yet, it feels good when you see your old friends in this dark tunnel dreaming of a faint light shining from afar, even if it is an illusion... as long as it brings joy to their souls.
I was/still with the opinion of closing POR first, not a penny before..
GLTA..
Board's posts today can be categorized as a sense of Ct's MORibundity
I will hold no responsibility answering your question,
I can't tell anyone what to do in this regards or not to do .
Your Money, Your Shares, Your Ct's and Your CALL.
GLTA
Not gonna happen my friend..;)
I didn’t see any mail hitting my box yet.
Call Diane, you may get some answers
+44 20 7583 5000
Diane Adebowale
Oh Lord!...Not the cash distribution talk , AGAIN!
LOL...
Satisfied in full?...BK closed?....NO
till then....
Ct's Included...
On September 28, 2021, new amendments to Rule 15c-211 under the Securities Exchange Act of 1934go into effect to enhance investor protection and improve issuer transparency. These amendments restrict the ability of market makers to publish quotations for those companies that have not made required current financial and company information available to regulators and investors.Ahead of the regulatory enforcement date, TD Ameritrade will only accept orders to liquidate positions -(i.e. no new buy orders) startingon or after September 3, 2021. Please note: After the amendment officially goes into effect on September 28, 2021, it may be more difficult to liquidate these securities.Quoting and market liquidity may also be very limited.The list is below as of September 20, 2021 and is subject to change at any time.
Net Operating Losses
The NOLs of the LBHI Tax Group (including Debtor-Controlled Entities) are subject to audit and adjustment by the IRS and primarily expire in or about 2028. Substantially all of the LBHI Tax Group’s current consolidated net operating loss carryovers are attributable to the Debtors. The Plan provides for an orderly liquidation of the Debtors. As previously disclosed in the Company’s Quarterly Financial Report as of March 31, 2012 [Docket No. 29731], the LBHI Tax Group received a private letter ruling from the IRS in connection with the Plan going effective that stated (i) the liquidation of the Debtors for U.S. federal income tax purposes may occur over an extended period, and (ii) the reduction of the LBHI Tax Group’s NOLs as a result of the discharge of debt pursuant to the Plan generally would not occur until completion of the liquidation. Upon completion of the liquidation of the Debtors, all remaining NOLs of the Debtors will be eliminated.
https://www.sec.gov/Archives/edgar/data/806085/000119312517357365/d453223dex991.htm
What is the Final Distribution?
The Final Distribution will allow the vast majority in number of LBHI’s creditors to end their 13-
year involvement in these cases and will provide creditors with the opportunity to receive a Final
Distribution potentially years ahead of when they would otherwise receive distributions under the
Plan.
Please note that participation in the Final Distribution is voluntary.
If you participate in the Final Distribution, you will not receive any other distributions from
LBHI after the Twenty-Third Distribution in October 2021.
Who are the Eligible Creditors?
Each creditor who has been estimated to receive future distributions totaling less than or equal to
$25,000 on account of the aggregate of all of their Claims, is referred to as an “Eligible Creditor,”
and their Allowed Claim(s), the “Eligible Claim(s).”
• For more information on the Eligible Creditors, please refer to the Final
Distribution Motion filed on May 28, 2021 (Docket No. 61143).
• For more information on estimated future Distributions, please refer to LBHI’s
Quarterly Financial Report as of April 1, 2021, (Docket No. 61142).
Who are Non–Eligible Creditors?
Each creditor who has been estimated to receive future Distributions totaling more than $25,000
on account of the aggregate of all of their Claims, is referred to as a “Non-Eligible Creditor.”
• For more information on the Non-Eligible Creditors, please refer to the Final
Distribution Motion filed on May 28, 2021 (Docket No. 61143).
• For more information on estimated future Distributions, please refer to LBHI’s
Quarterly Financial Report as of April 1, 2021, (Docket No. 61142).
When is the Record Date?
The Court established July 1, 2021 as the Mailing Record Date and August 28, 2021 as the Record
Date for the determining which claims and claim holders qualify as being eligible for the Final
Distribution.
https://document.epiq11.com/document/getdocumentbycode/?docId=3957498&projectCode=LBH
LBHI is the holder of allowed claims against itself of approximately $12.4 billion,
primarily comprised of:
(i) $7.8 billion of Class 4A claims,
(ii) $1.9 billion of Class 9B claims,
(iii) $1.2 billion of Class 3 claims,
(iv)$0.7 billion of Class 9A claims, and
(v) $0.6 billion of Class 7
My Ct's are still there, (Pershing)...FWIW
Jimmy, May his soul RIP used to say: Full money Plus....
his words:
Has nothing to do with us...
https://finance.yahoo.com/news/first-republic-frc-gets-30b-154003753.html
Front & Rear..lol...eom
Mojo,
I really don't know. Its just a theory.
Mr. William " Bill" Addiss who spent 23 Years with Lehman and its predecessor firms, Shearson and E.F. Hutton is very active with training webinars covering CBDC
https://event.on24.com/wcc/r/3947810/48EE261835F3B11526A177A9D8C466E2
Here is a good article about the business model and how it'll affect commercial banks.
https://sites.duke.edu/thefinregblog/2019/05/22/when-tech-meets-money-the-central-bank-digital-currency/
Good luck Sir
However, NOLs are not freely transferable. The Code places limits on the extent to which a Loss Corporation may utilize an NOL following a change in ownership. While these limitations can be significant, importantly, there are exceptions for restructuring transactions completed through a bankruptcy proceeding. Accordingly, as with many other aspects of distressed investing, a bankruptcy proceeding may provide a valuable avenue for maximizing and preserving the value of NOLs.
Bankruptcy Exceptions for Loss Corporations
While the Code Section 382 NOL limitations could have a significant impact on a Loss Corporation, there are exceptions to the application of these rules. A principal exception is extended to Loss Corporations that are subject to bankruptcy proceedings. Specifically, Code Section 382 contains two separate exceptions for bankruptcy restructuring transactions.
First, there is no cap on the utilization of NOLs following a restructuring through a bankruptcy case of the Loss Corporation if the shareholders and qualified creditors of the Loss Corporation (as determined prior to bankruptcy restructuring), own 50% of the stock of the corporation (i.e., retain 50% of the voting power and 50% of the economic value), after the restructuring.[2] As suggested, two primary requirements must be satisfied for this so-called “bankruptcy exception” to apply:
First, the Loss Corporation must have been under the jurisdiction of a court immediately before the ownership change in a Title 11 or similar case.
Second, the former shareholders and qualified creditors of the bankrupt corporation must retain “control” after the ownership change.[3]
With respect to the second requirement, stock transferred to a creditor only counts towards the 50% threshold if the stock was transferred in satisfaction of indebtedness held by the creditor for at least 18 months prior to the filing of the bankruptcy case, or if the indebtedness arose in the ordinary course of business of the Loss Corporation and continued to be held by the original creditor.[4] To the extent these requirements are satisfied, this allows the NOLs to be used going forward without the limitations imposed by the general Code Section 382 rules.
While valuable, this exception will be lost (and the cap will be set to zero) if there is a second ownership change within two years after the bankruptcy restructuring transaction.[5] Additionally, while this bankruptcy exception contained within Code Section 382 eliminates the cap on the utilization of post-restructuring NOLs, the NOLs that can be utilized going forward will be reduced by the amount of any deductions that the Loss Corporation took within the prior three years with respect to interest payments made to creditors that received stock in the restructuring transaction.[6] These are some of the considerations that must be taken into account when evaluating the viability of the “bankruptcy exception” to Code Section 382.
Additionally, to the extent that the Loss Corporation does not qualify for the bankruptcy exception (or elects not to utilize the exception), then under Code Section 382(l)(6), following a bankruptcy restructuring, the Code Section 382 cap is calculated to account for any increase in value of the corporation resulting from any surrender or cancellation of creditor’s claims in the restructuring. The valuation of a business could be increased substantially as a result of such claims being mitigated, which could have a corresponding positive impact on the cap for calculating the NOLs going forward.[7]
These specialized NOLs rules related to bankruptcy proceedings provide potentially valuable planning considerations. For example, a corporation with a large NOL may find bankruptcy as an attractive avenue for obtaining an equity infusion. Under the bankruptcy exception to the NOL limitations, a new investor could potentially obtain up to 50% of the Loss Corporation’s equity, without effecting the value of the NOL, provided that the Loss Corporation’s existing shareholders and qualified creditors retain the remaining 50% equity.
https://www.icemiller.com/ice-on-fire-insights/publications/protecting-net-operating-losses-in-distressed-inve/
New Lehman...>>>...Central Bank Digital Currency (CBDC)...IMO
Lehman Brothers Holdings on Tuesday won court approval for its reorganization plan,
https://www.nytimes.com/2011/12/07/business/lehman-case-closes-chapter.html
Bottom-line...
- This board is not about Joe, Mellow, Gus the bus , its about expressing not impressing, please stop the "saving souls" and "I-told-you-so" useless discussions.
- Many Can't buy, and even if we can, I think Non of us is going to sell at $0.003/share, Therefore, all efforts to push someone to buy or sell are worthless. PERIOD!
- We've placed our bets and waiting for outcome, Our Money, Our decision based on Our DD. Lose or win, this is one of the "Game Rules".
-Get R Done!!
Chapter 11, Reorganization, Recapitalization
Chapter 11 bankruptcy
Chapter 11 bankruptcy is the formal process that allows debtors and creditors to resolve the problem of the debtor’s financial shortcomings through a reorganization plan; see Tamir v. United States Trustee. Accordingly, the central goal of chapter 11 is to create a viable economic entity by reorganizing the debtor’s debt structure. Unlike chapter 7, chapter 11 is not a liquidation of the debtor’s assets. Rather, it is a reorganization of existing assets, principally as debt. The confirmed chapter 11 plan becomes a contract between the debtor and creditors, governing their rights and obligations; see In re Nylon Net Company.
When a company can no longer pay its debts, it generally creates a relationship between two stakeholders–the debtor and creditors. The debtor seeks relief from the debt they cannot repay, while the creditors seek to recollect their debts, quickly and efficiently. Through the “chapters” in the Bankruptcy Code, Congress created the rules governing the relationship between creditors and the debtor during bankruptcy in order to systematically, effectively, and efficiently satisfy the often countervailing interests of each side.
The premise behind a chapter 11 reorganization is that a debtor is more valuable as an operating entity than in liquidation (i.e., through a chapter 7 bankruptcy). Hence, chapter 11 bankruptcy is generally chosen when the continuation of a debtor’s business generates more value than a closure and piecemeal sale of its assets. This often occurs when the debtor’s financial troubles are a product of temporary issues, such as low cash flow and diminishing demand. A bankruptcy judge will confirm a chapter 11 plan only when creditors are satisfied that they will receive at least as much as they would under a liquidation.
https://www.law.cornell.edu/wex/chapter_11_bankruptcy