Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

1) My how Harvey Miller did the bidding for equity [God bless his soul]! Five Star service:

"bid·ding/'bidiNG/
noun
the offering of particular prices for something, especially at an auction.
the ordering or requesting of someone to do something.



bid1/bid/
verb
offer (a certain price) for something, especially at an auction.



bid2/bid/
verb
utter (a greeting or farewell) to.
command or order (someone) to do something.


Bidding | Define Bidding at Dictionary.com
https://www.dictionary.com/browse/bidding - Cached
do someone's bidding , to submit to someone's orders; perform services for someone: After he was promoted to vice president at the bank, he expected everyone around him to do his bidding."

2) My how $55B in liquidation cash turns into $125B plus in liquidation cash!

3) My how 21 to 28 cents on the dollar turns into 40 cents plus on the dollar.

4) My how equity has waited a long time until cash reaches its high water mark!

5) My how equity is going to feel when equity holders receive their LBHI Plan Trust stock distributions! Why? The creditors have already received far more than they bargained for with Harvey Miller.

***

"PAYING BACK CREDITORS
Some of Lehman’s most public bankruptcy negotiations focused on its reorganization plan, as it worked to get investor groups, including Wall Street firms like Goldman Sachs Group Inc and hedge fund investors such as Paulson & Co, to agree on how much it would pay back each class of creditor.

In the end, they agreed that creditors, depending on their type of debt, will receive from about 21 cents to 28 cents on the dollar. Creditors had asserted more than $300 billion in claims.

“It was an extremely difficult and enormously time-consuming case,” Harvey Miller, Lehman’s lead attorney, told Reuters. “I had to increase my high blood pressure pills.”

Bankruptcy Judge James Peck approved the creditor payback plan in December and Lehman has since been settling claims and selling assets. The company, which has about $35 billion in cash, is due to make a second payment to creditors in September and then will continue to make periodic distributions in the future as it sells off its remaining estimated $30 billion worth of assets.

Among the most notable of those holdings is the Archstone apartment real estate company."

https://www.reuters.com/article/us-lehman/lehman-emerges-from-3-5-year-bankruptcy-idUSTRE8250WY20120306