*** From claim # 66462 *** The truth has not changed yet! The truth will never change? Why? Because JPMCB and Lehman Brothers entered into their August and September 2008 Guaranties and Security Agreements in 2008. The codebtors cannot rewrite their contract in 2016 to exclude a class of LBHI TRuPS creditors from a measly $2 billion. The world is reading and watching these events unfold. Since when does a class of secured creditors get paid last in a bankruptcy case? WOW
"In addition, JPMSI and its Affiliates, each as an entity that may be liable with LBHI to a creditor that has not filed a proof of claim, hereby files pursuant to Bankruptcy Rule 3005(a) a proof of claim on behalf of each such creditor covering claims with respect to which JPMSI and the Affiliate of JPMSI, as applicable, is a codebtor with LBHI."
From Joe Stocks: "JPM has nothing to do with this."
BELOW IS WHAT THE CODEBTORS (LBHI AND JPMCB) WANT TO DO ABOUT THIS:
*** 2016 LBHI/JPMCB Settlement Agreement (docket 51904) text below: ***
"Non-CDA Claims" means any claims filed by JPMorgan for a customer, as
agent, as trustee, in any other representative capacity, or otherwise in respect of which
JPMorgan did not assert in the relevant proofs of claim that such claims were secured by
the collateral posted by LBHI pursuant to its August and September 2008 Guaranties and
Security Agreements in favor of JPMorgan.
From Joe Stocks: "JPM has nothing to do with this."
*** Text from an Ihub board member old post that appears in claims 66462 and 66455 ***
Quote:
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Edit: This is what is in the claim 66455 dealing with the Securities Law Claims:
- JPMSI and its affiliates have contingent contractual and non-contractual indemity, contribution, equitable and other claims against LBHI for any losses, claims, damages or other liabilities (or actions in respect thereof). joint or several, to which JPMSI and its Affiliates may become subject under securities law or otherwise, including, without limitation, settlement costs, investigation costs and the fees and expenses from counsel arising from, based on or relating to the underwriting, placement and/or sale by JPMSI or its Affiliates of securities issued or guaranteed by LBHI. In circumstances where JPMSI or an Affiliate was the lead managing underwrite, placement agent or the equivalent with respect to an offering of such securities, JPMSI and Affiliates also assert claims of the kind described in the preceding sentence against LBHI on behalf of all underwriters or placement agents in the underwriting or placement syndicate (and their affiliates) with respect to such offer. In addition, JPMSI and its Affiliates, each as an entity that may be liable with LBHI to a creditor that has not filed a proof of claim, hereby files pursuant to Bankruptcy Rule 3005(a) a proof of claim on behalf of each such creditor covering claims with respect to which JPMSI and the Affiliate of JPMSI, as applicable, is a codebtor with LBHI. The name of each such creditor is not currently known.
- This filing is intended to include, without limitation, all Claims of the types described in the preceding paragraph, including, but not limited to, all such Claims related to the offerings described in Exhibit C.
- Exhibit C includes the 4 CTs as well as
- $1B 6.625% Notes due 2012 issued by LBHI
- $250M Medium Term Notes Series G maturity date 11/15/17
- $300M Series K CT
- 120K shares of Pref F stock
- $300M Series L CT
- $750M Medium Term Notes Series G maturity date 3/13/14
- $500M Medium Term Notes Series G maturity date 3/13/09
- $400M Series M CT
- $200M Series N CT
----------------------------------------------
From Joe Stocks: "JPM has nothing to do with this."
*** below below below below below below ***
Feedback! Bingo! Do the math!
$2.8B - $1.4B = $1.4B - If the Debtors are forced to pay back $1.4B, the creditors still received $1.4B on June 16, 2016. In the long run, $1.4B may be only a loan to the Debtors.
From Joe Stocks: "That makes absolutely no sense..."
Now the reading!
***
08-13555-scc Doc 52752 Filed 05/11/16 Entered 05/11/16 17:41:54 Main Document
NOTICE OF PRESENTMENT OF MOTION OF PLAN ADMINISTRATOR FOR
AN ORDER IN AID OF EXECUTION OF THE MODIFIED THIRD AMENDED
JOINT CHAPTER 11 PLAN OF LEHMAN BROTHERS HOLDINGS INC.
AND ITS AFFILIATED DEBTORS
.
.
.
4. Replacement Settlement Agreement. In the event that a court enters a final order, not
subject to Further Appellate Review, that makes it impossible for the Approval Order to become
final (a “Replacement Event”), then the Parties shall use their best efforts in good faith to enter
into and obtain any required approval for a new settlement agreement on the same economic and
legal terms as the Settlement Agreement (a “Replacement Settlement Agreement”), except for
such changes as may be required to accommodate any issues raised by the court order that gave
rise to the Replacement Event.
5. Repayment. If a Replacement Event occurs and a Replacement Settlement Agreement is
not feasible (a “Repayment Event”), LBHI shall be obligated to immediately repay an amount
equal to the Repayment Reserve Amount to JPMCB. LBHI shall first satisfy this repayment
obligation by immediately transferring to JPMCB all funds in the Repayment Reserve, and
JPMCB shall apply the Tassimo Amount (if any) to such repayment obligation. In the event that
the Repayment Reserve and the Tassimo Amount are inadequate to satisfy the full amount of the
Repayment Reserve Amount, JPMCB and any other JPMorgan Parties shall have the right to
setoff any shortfall in the Repayment Reserve Amount against any obligations of JPMCB and the
other JPMorgan Parties in respect of any Actions that a Lehman Party may have against a
JPMorgan Party, including without limitation the Tassimo Action, the LBSF Action and the
Other Objections. If a Replacement Event occurs, LBHI shall be prohibited from making any
further distributions to its creditors until a Replacement Settlement Agreement has been
consummated or JPMCB has been fully repaid an amount equal to the Replacement Reserve
Amount through payment and/or setoff.
From Joe Stocks: "That makes absolutely no sense..."
***
115 ORDER: The Court is in receipt of two letters from non-party Ricky M. Gregory-dated January 27, 2016 and January 29, 2016, and received in chambers on February 1, 2016 and February 2, 2016, respectively-setting forth his views regarding the proposed settlement in this matter. (Doc. Nos. 113, 114.) Since the settlement agreement is currently being reviewed by the Bankruptcy Court (Doc. No. 111), the Court will take no action on these submissions at this time. (Signed by Judge Richard J. Sullivan on 2/4/2016) (mro) (Entered: 02/05/2016)
From Joe Stocks: "That makes absolutely no sense..."
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