Home > Boards > US OTC > Banking and Finance > Lehman Bros - Cap. Trust VI - Pref''''d Series "N" (LEHNQ)

Another darn fine summary and opinion.

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camaro4me   Sunday, 06/09/19 08:47:59 PM
Re: stoxjock post# 84284
Post # of 84976 
Another darn fine summary and opinion.

I do not dismiss arguments without reason, even from those with an opposing view and even if I think they may have an 'agenda' behind them... I was also having the same question as you, that ECAPS were issued by LB UK... BUT, when I re-read LBHI's CT prospectuses, I found that it is an 'all-encompassing' "Global Guarantee" and doesn't make any distinction as to 'which subsidiary' the 'other' "Preferred Securities' may belong to. IF LBHI did not have such a Guarantee, they would not ave been able to sell such large # of CTs, to a 'truly Global' Investment Community that bought the CTs...I think this is also the reason that RSM Advisory went after LBHI and NOT just LBIE... IF what you claim is true, RSM Advisory, being that they are well-versed with all the 'Legal interpretations' of their ECAPS Propsectuses, would in fact have 'no grounds what-so-ever' to engage in any Legal motions with LBHI...

IMO, Cotton and Rex Wu studied all these Dockets from all these Legal Angles and filed their objections...

I am also really 'amused' by the 'Alacrity' with which the Plan Administrator filed for a 'Special Distribution' to Creditors, WITH a RECORD DATE of JUNE 17th, 2 Days BEFORE the Hearing on Mr.Rex Wu's Motion... It is Really A Very Suspicious Move... The Whole intent of the Plan Administrator's move seems to be to "Grab Whatever Assets He can" and "Disburse them off to the Creditors" to 'pre-empt' a "Court Order Finding on June 19th, in Favor of Mr Rex wu's Objection Motion".

This is nothing but "Thievery" and I am hoping Mr. Wu & Mr. Cotton (Mr. Gregory) object to it and I also hope that Regardless of whether someone objects or not, the Court will Take "An Investigative Review" of this 'Brazen Attempt' to Steal Assets from CTs and other Equity, when an important Hearing is pending in front of it, on this very matter...

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