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O/S, anyone?
TIA
.......GBDX Alert....$$35 MIL NEWS!!
IX. RESTITUTION
In exchange for benefits received under this Plea Agreement, the defendant agrees to make full restitution in the amount of $35,000,000.00 in US. Currency to the victims of the crimes.
https://www.scribd.com/document/321993497/TURINO-PLEA-AGREEMENT
Great News!!
Thank you
Thank you Sir for sharing.
Interesting!
Did you try calling our transfer agent?
GLTA
http://www.otcmarkets.com/research/service-provider/Securities-Transfer-Corporation?id=5149&b=n&filterOn=6
The Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and Its Affiliated Debtors, dated December 5, 2011
Page 92
https://www.sec.gov/Archives/edgar/data/806085/000119312511339839/d267202dex22.htm
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.
Hi Scorp,
Heard Kelman Lazarov are buying in?
:)
http://www.kelman-lazarov.com/new/kelman-lazarov/
http://www.nasdaq.com/quotes/institutional-portfolio/kelman-lazarov-inc-992534/new?page=2
https://www.linkedin.com/in/matthew-foley-421559a
Check too:
Martin Potts
Scott Francis
Paul Copperwaite
Jonathen Edge
Michael Karp
etc...
Most LAMCO current employees are Ex Lehman or Barclays
The compay is for Real and they are managing Huge portfolio.
IMO only
Experience
SVP
Lehman Brothers Holdings Inc.
July 2012 – Present (4 years 2 months)
Ms. Gordon is a team leader in a specialized group formed for the Western United States region to manage a $1 billion land portfolio comprised of over 50 assets. She is responsible for the stabilization, positioning, development and ultimate monetization of land assets including strategic business plan preparation for each asset; work-out plans with multiple stakeholders; negotiation of joint development agreements; re-structuring and financing; preservation and advancement of multi-jurisdictional entitlements through various federal, state and local agencies; market positioning and ultimate disposition of assets. As lead representative in successful development, execution and ultimate disposition of high-value notable master planned communities including Marblehead Coastal in San Clemente and Pacifica San Juan in San Juan Capistrano, a combined $400 million in net income was generated.
https://www.linkedin.com/in/lisa-gordon-8b640524
Thank you.
LAMCO is managing $48BIL thou!???
https://www.brightscope.com/financial-planning/firm/59895/Lamco-LLC/
The decision splits the Lehman estate into two pieces, one to manage its illiquid assets and another to handle the work relating to its 2008 bankruptcy.
Lamco’s role will be to manage and wind down Lehman’s long-term distressed and illiquid assets, including commercial real estate, residential mortgages, principal investments, corporate debt and derivatives.
Lehman will remain in existence to handle claims arising from its Chapter 11 filing. Lehman would fund Lamco, and the several holding companies associated therewith, with a total of $20 million to start.
Old news
BY
Reuters
Thursday, April 15, 2010, 2:13 PM
Lehman wins OK to create new asset mgmt co,
bankruptcy judge declares he's never seen this before
Lehman Brothers Holdings Inc (LEHMQ.PK), which filed the largest bankruptcy in U.S. history, won a federal bankruptcy judge's approval on Thursday to create a new asset management company.
The creation of the company, known as LAMCO, will enable Lehman to unwind some of its assets over a longer period of time, potentially allowing it to make more money.
"I've never seen anything quite like this," U.S. Bankruptcy Judge James Peck said at a court hearing.
Some Lehman creditors had objected to LAMCO's creation, but resolved their disagreements prior to the hearing.
Lehman filed for Chapter 11 protection from creditors on September 15, 2008. It is gradually liquidating assets to pay creditors.
Much of Lehman's North American operations were taken over by Barclays Plc (BARC.L) in the immediate aftermath of the bankruptcy filing.
The case is In re: Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555.
L's & K's are Grey
M's & N's are Pink
right?
Links you posted are from 2014
Here is one, end of 2015..
it says Lehman still owns 15%. :)
http://www.autosport.com/news/report.php/id/121179
here is another one:
http://www.nytimes.com/2015/09/04/sports/autoracing/the-eternal-player-bernie-ecclestone-races-on-italian-grand-prix-monza.html
Just keep your Apollo space suit handy..
GLTA
Is this a good stock?
TIA
WOW!!!
We are so golden!!!
I'm not sure.
Last I heard, Gus is managing her account!
LOL
Time Price.......Volume
12:00:13 0.155......3376
11:43:50 0.172308......1000
10:33:25 0.155......1000
10:33:22 0.155......7124
09:30:49 0.005......200
09:30:49 0.005......700
We are still trading!
where is ines?
LOL
She bought Mil common shares at $1/ share!! what do you expect?!
The most common emotion when faced with loss is anger. Those feelings are most likely to spill over into aggressive behavior such as lashing out and talking BS!
She is facing a significant financial loss, and going through the same suffering and grief.
She wants to react,and to fight back but she picked the wrong fight with CT holders.
Poor soul....
LOL!!!
I guess we spent the last 8 years together,
don't you own more than million shares of commons @ $1??
BUT, "my shares" are still trading and I can exit anytime, with Profit!!
Your's are halted and cancelled!!
LOL
From Prospectus:
Redemption
Holdings may redeem the subordinated debentures before their maturity:
•in whole or in part on one or more occasions any time on or after January 18, 2010; and
•in whole at any time, if certain changes in tax or investment company law occur (each of which is a "Special Event" and is described more fully under "—Special Event Redemption" below).
When Holdings pays off the subordinated debentures, either at maturity on January 18, 2054 or upon early redemption (as discussed above), the trust will use the cash it receives from the redemption of the subordinated debentures to redeem a like amount of the preferred and common securities. The redemption price for the subordinated debentures is 100% of their principal amount plus accrued and unpaid interest.
If less than all the preferred and common securities are redeemed, the aggregate liquidation amount of preferred and common securities to be redeemed will be allocated proportionately among the preferred and common securities, subject to the exceptions described under "—Subordination of Common Securities." The preferred securities to be redeemed will be redeemed on a proportionate basis by DTC if they are in book-entry-only form.
Special Event Redemption
If a tax event or an investment company event (as defined below) has occurred and is continuing, and Holdings cannot cure the event by some reasonable action, Holdings may redeem the subordinated debentures, within 90 days following the occurrence of the Special Event.
"Tax event" as used herein means the receipt by the trust of an opinion of independent tax counsel experienced in such matters, to the effect that, as a result of
•any amendment to, change in or announced proposed change in the laws or regulations interpreting such laws of the United States or any political subdivision or taxing authority; or
•any official administrative pronouncement, action or judicial decision interpreting or applying such laws or regulations;
where such amendment or change becomes effective, or proposed change, pronouncement, action or decision is announced on or after the date of this prospectus supplement, there is more than an insubstantial risk currently or within the 90 days following such opinion that:
•the trust will be subject to United States federal income tax with respect to income received or accrued on the subordinated debentures;
•interest payable by Holdings on the subordinated debentures will not be deductible by Holdings, in whole or in part, for United States federal income tax purposes; or
•the trust will be subject to more than a de minimis amount of other taxes, duties or other governmental charges.
"Investment company event" means the receipt by the trust of an opinion of a nationally recognized independent counsel to the effect that, as a result of the occurrence of a change in law or regulation or a written change in interpretation or application of law or regulation by any legislative body, court, governmental agency or regulatory authority, there is more than an insubstantial risk that the trust will be considered an "investment company" under the Investment Company Act of 1940 that is required to be registered under this law.
If Holdings does not elect to redeem the subordinated debentures following a tax event or investment company event, the preferred securities will remain outstanding until the repayment of the subordinated debentures.
Redemption Procedures
The trust will give you at least 30 days' notice before any redemption of preferred securities. To the extent funds are available for payment, the trust will irrevocably deposit with DTC sufficient funds to pay the redemption amount for the preferred securities being redeemed. The trust will also give DTC irrevocable instructions, and authority to pay the redemption amount to the preferred securities holders. Any distribution to be paid on or before a redemption date for any preferred securities called for redemption will be payable to the registered holders on the record date for the distribution.
Once notice of redemption is given and the redemption amount is irrevocably deposited, additional distributions on the preferred securities will cease to accumulate. In addition, all rights of the holders of the preferred securities called for redemption will cease, except for the right to receive distributions payable prior to the redemption date and the redemption amount.
If any redemption date is not a business day, the redemption amount will be payable on the next business day, without any interest or other payment in respect of any such delay. However, if the next business day is in the next calendar year, the, redemption amount will be payable on the preceding business day.
Holdings or its affiliates may, at any time, purchase outstanding preferred securities by tender, in the open market or by private agreement.
Any preferred securities which are repurchased or redeemed will be cancelled.
Withholding
All payments of principal and interest will be made without withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature imposed or levied by or on behalf of the jurisdiction of incorporation of Holdings or any political subdivision thereof or any authority therein or thereof having power to tax unless the withholding or deduction of such taxes, duties, assessments or governmental charges is required by law (based on the advice of counsel).
Optional Liquidation of the Trust and Distribution of Subordinated Debentures
Holdings may dissolve the trust at any time, and after paying the creditors of the trust may cause the subordinated debentures to be exchanged for the preferred securities. Holdings will give holders of the preferred securities at least 10 business days' prior notice of such dissolution.
Assuming that the trust is not taxable as a corporation, a distribution of subordinated debentures upon a liquidation of the trust would not be a taxable event to holders of the preferred securities. If, however, the trust were subject to United States federal income tax with respect to income accrued or received on the subordinated debentures, the distribution of subordinated debentures by the trust would be a taxable event to the trust and you.
If Holdings elects to dissolve the trust, thus causing the subordinated debentures to be distributed in exchange for the preferred securities, Holdings will continue to have the right to redeem the subordinated debentures in certain circumstances. See "Certain Terms of the Subordinated Debentures—Redemption" for more information.
Ines,
Rights Upon Termination
Upon any dissolution, winding-up or liquidation of the trust involving the liquidation of the subordinated debentures, the holders of the preferred securities will be entitled to receive, out of assets held by the trust, subject to the rights of any creditors of the trust, the liquidation distribution in cash. Upon any voluntary or involuntary liquidation or bankruptcy of Holdings, the property trustee, as holder of the subordinated debentures, would be a subordinated creditor of Holdings, subordinated in right of payment to all senior debt as set forth in the subordinated indenture, but entitled to receive payment in full of principal and interest before any stockholders of Holdings receive payments or distributions. Because Holdings is the guarantor under the guarantee and, under the subordinated indenture, has agreed to pay for all costs, expenses and liabilities of the trust (other than the trust's obligations to the holders of the preferred securities), the positions of a holder of preferred securities and a holder of the subordinated debentures relative to other creditors and to stockholders of Holdings in the event of liquidation or bankruptcy of Holdings would be substantially the same.
2.13 Mil shares...WOW!
2.08 Mil shares traded today.
Go Sulja!
Not to forget GSC
http://www.gsc.fr/suretrace/index.html
I just sent an email for BNY Mellon regarding the trustee issue.
I will update you once I get an answer.