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"ii. LBHI shall not assign, transfer or dispose of the PLC Sub-
Debt:
o until 15 December 2024, in any circumstances;
and
o after 15 December 2t 024, unless (i) the assignee
I think that says it all about LBHI's "Share" of the "X" Interim Distribution that the Agreement (And specifically LBHI itself told the Court) is 'marked' for "Subordinated Debtholders" of LBHI...Woohoo, 18th Dec '23 could be a very important Date indeed...
How do we get the 18th Dec '23 date? The early part of the mail talks about 15December 2024 ???
Come end of 2023, if the European Escrows receive some distribution, their value will creep up.
This is sure sign for us CT holders, that our day will come soon.
If the 39cents per CT materialises, the market will wakeup, and our first jump will be $5.
For whatever it is worth, we can individually send an e-mail to the Uk-affiliates (e-mail link. uk_lehmanaffiliates@pwc.com) with details of our Broker, Account . number, CT holdings and our address. We can title the mail as Lehman debt proof.
Just my two cents
Hello ALL,
I encountered the same problem.
Can somebody forward a copy of the form to : w13579c@gmail.com
If possible, the form can be attached in this IHUB.
Thanks in advance.
Thank you AZ for the prompt reply. By statutory interest you mean the accumulated interest for the M/L/K/N CTs, for the past 15 years ??
That should be a large sum. Am I greedy?
Hello AZ,
How are you? All my CTs are in street name.
Should I file any direct claim form?
Thanks
Any idea when the POR is expected to close.
If the 30 cents distribution materializes soon, we won't stop at $10, but will aim for face plus divvies.
If 15 Million is available after the 21Nov23 distribution, and if it comes to the CTs then it is about 30 cents per CT.
It is better to keep in mind, certain income sources for Lehman may stretch for decades (Trust securities). IMO
If the earlier Schwab news is true, one dividend payment may come our way in 2022
Hi Luuly,
Can you please tell whether the interest shown in your Schwab account is for LEHKQ or LEHLQ or LEHNQ or LHHMQ?
Thanks.
Thanks Cotton. After 18 months ... Is it March2023?
Good: I am waiting for Cotton's reply.
Cotton:
Each CT (N/L/K/M) has a face value of $25=; When the CT is converted to a debenture (in March2023) what will be the Dollar value of the corresponding debenture? Will it be $25 or different?
Thanks
""Unsecured claims would receive 19.9 cents.""
Does this refer to $1000 face value LEHPQ?
Thanks.
Any CT holder will be ten times more happy if the CT reaffirmation occurs.
As I said in an earlier mail, there will be no Escrows in Lehman, post conversion.
Another speculation/calculation:
Assumptions: The 200M shares(out of a total of 400M) will be divided in the 1:3 between the Lehman commons and the (CTs,K/D/F/G/J/P/GP) group of preferred shares PRO RATA. This is similar to WAMU case.
The preferred shares face value comes to around $ 8.5 Billions. This is in the range of WAMU preferred shares.
Calculation:
700 Million Lehman commons will get 50M new Lehman shares.
$8.5 Billion fece value Lehman CT/ preferred group will get 150 Million new Lehman shares(pro rata);
14 old commons will get 1 new share.
Each P and GP($1000) will get 18.75 new shares.
Each CT/F/G/J($50) will get 0.468 new share.
Each K/D($50) will get 0.936 new share.
If the NOL is only $15 Billions and the realization is only 10%, the new Lehman share has a NOL component of (1500 Million/ 400Million shares) $ 3.75.
There is no common sense/ reason/ accountability, when it comes to share market speculators. Look at NFLX. With the long history of Lehman, the notoriety of the Lehman saga, the new Lehman new share price, after one year of conversion, is beyond any conjecture.
Note: The other Lehman creditors who get 200M new shares, will actually control 350 Million newco shares because, being close to the ring, they would have cornered about 75% of the other floating securities over the past eight years. This is also the main reason why they will agree for a settlement.
IMO ... add comments/corrections ...
GLTA
There are about 700 Million Lehman common shares.
The four CTs have a face value of $1.2 Billion.
What is the face value of preferreds and Senior preferreds ?
Thanks.
The WAMU litigation/settlement with FDIC/JPM, will only benefit the Escrows mostly. Lehman will have no Escrows, because as and when the expected settlement is agreed, approved there is no more uncertainty. The NEW LEHMAN will march forward from day one. There is no FDIC/JPM mess involved in the case of Lehman.
If Lehman is reorganized with 400 Million new shares, then in the worst case , 200M shares will be available to old commons, preferred and CTs.
Then,
one old Lehman preferred will get about 10 new Lehman shares. One CT will get 0.25 new Lehman shares. 30 old Lehman shares will get ONE new share.
With 60 Billions of NOL, at 30% NOL, value 18 Billions will be the value of 400Million new Lehman shares. Then one new Lehman share is equivalent to $45.
You can estimate the worth of what you hold in Lehman securities now. There are lot of assumptions behind this speculation. Take it with a pinch of salt.
GLTA
The point of interest now is the relative values assigned to Lehman common shares, preferred shares(face value $1000) and CTs (face value $25).
A comparison with WAMU may be useful.
Nearly 600 commons were equivalent to one P (face value $1000). The K shares(face value ($25) were prorated on par with P.
WAMU had total commons of 1.7 Billions. Some may say 1.2 Billions.
Lehman has about 700 Million commons.
On this basis we can expect one Lehman preferred share (face value $1000) to be equivalent to about 300 Lehman commons and one CT to be equivalent to 7.5 Lehman commons).
Because there is a debt to equity conversion involved in Lehman, a maximum of 49% of the total newly issued shares will go to other creditors.
Comments/ corrections welcome.
GLTA