Followers | 17 |
Posts | 4260 |
Boards Moderated | 0 |
Alias Born | 12/15/2016 |
Friday, March 09, 2018 2:16:15 AM
1.) https://www.pillsburylaw.com/en/news-and-insights/lehman-decision-transmutes-structured-finance-investors-into.html
According to this once the $2.4bil is paid we will have exclusive rights to the amount. Last section first bullet point.
It also states that we have no recourse for anything in the pool meaning we cant demand any money from the trust (something thats been brought up here lots of times, but according to this you cant do it)
but that when the vehicle does receive funds that they will go directly into the vehicle (no funny business) and that it will be set up another financial asset(like a bank account) and distribute the money upon certificate holders (us)
It also states that that any creditors of the sponsor also have no recourse to the funds so we don't have to worry about it going to creditors
2.) https://www.gibbsbruns.com/14-institutional-investors-in-rmbs-issued-by-lehman-announce-acceptance-by-rmbs-trustees-of-settlement-offer-by-plan-administrator-to-the-lehman-estate-to-resolve-mortgage-repurchase-claims-for-238-rmbs-trusts-06-01-2017/
in settlement agreement 6 it states "A release of all repurchase claims that have been or could have been asserted by the Trusts in respect of Covered Loans." meaning the securities (aka claims) will be bought back.
3.) https://www.housingwire.com/articles/40327-rmbs-trustees-accept-24-billion-toxic-mortgage-settlement-from-lehman-brothers --->And this settlement covers investors that bought into the SASCO trusts<--- and others, which, in some cases, included mortgages with faulty underwriting.
Now, the settlement waits for approval by the judge overseeing the liquidation of Lehman./color]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
4.) https://www.bloomberg.com/news/articles/2018-03-08/lehman-brothers-payout-on-crisis-era-mortgage-claims-in-sight
https://nypost.com/2018/03/08/fight-over-lehman-brothers-mortgage-claims-finally-over/
https://www.law360.com/realestate/articles/1020309/lehman-gets-2-4b-value-on-rmbs-claims-by-trustees
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
5.) http://www.lbhirmbssettlement.com/trustee_contact.php (all four of the trust we bought into, aka LEHNQ, LEHLK, LHHMQ, AND LEHKQ)
Only court hearing I know thats left is the credit suisse one in october, but it looks like that one wont even pertain to us really.
Looks like this might be over finnally.
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM