Yes, it would be nice if next distro is final. On page 4 you can find estimated sum for distributions: 1,395 B. Considering that last distros have been 563millions and 393million we can also assume they can split that 1.395 to several distros. Hopefully it will be one final. We'll see in few months time.
I find also intersting their comments regarding claims consolidation.
Page 28
In aggregate, 1,590 eligible creditors tendered 4,438 claims with an aggregate Allowed Amount of approximately $2.6 billion in the Claims Consolidation Auction. The total purchase price paid by the Sponsors was approximately $24 million.
Little bit further below:
Sale of Certain LBSF Assets to LBHI
On December 20, 2019, LBHI and LBSF executed a sale and purchase agreement, pursuant to which LBHI agreed to purchase LBSF’s Allowed Claims into LBHI for total consideration of $17.7 million. The prices for the Allowed Claims into LBHI were determined by the Claims Consolidation Auction (see above). The purchase price was paid in January 2020.
Seems like this claims consolidation was "snake eye move" to cover "inter-company ops". On page 10 is shown that LBSF holds 5A Affiliate Claims of LBHI 15,173B. So 15,173B face value claim was transferred to LBHI for 17,7 million if I read it right. Comments would be highly appreciated.
It also apperas they have closed in November 3 more subs. I've completely missed that.
Lehman Brothers Commodity Services Inc.
Lehman Brothers Commercial Corporation (“LBCC”)
Structured Asset Securities
18 subs closed 5 left. Of those 5 subs Lehman Brothers OTC Derivatives Inc. (“LOTC”) and BNC Mortgage LLC are already basically fully paid so I wonder whats the hold up there?
Just my 2 cents.
Cheers
Slim
