Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

Am I Free Yet, WU ? June 19, 2019 Court Hearing 😂

1 all that basically say the same thing. I can't' put my
2 finger on it now, but there was some suggestion in one of
3 the documents that this was part of some grand scheme, that
4 the record date was set in connection with the hearing dated
5 this motion, and that it was designed to cut off the rights
6 of these persons. That's a pure fabrication.
7 MR. FAIL: We think so, Your Honor.
8 THE COURT: So, you know, again, there's a --
9 something that emerges from these pleadings that I find very
10 troubling, which is to say that folks seem to be reinforcing
11 each other's views of this situation in ways that are just
12 not tethered to the facts and the operative plan documents.
13 Mr. Wu, do you have anything else you want to add?
14 We have to wrap this up.
15 MR. WU: I do not, Your Honor.
16 THE COURT: I'm sorry. Who was just speaking?
17 MR. WU: I do not, Your Honor.
18 THE COURT: Okay. That was you, Mr. Wu?
19 MR. WU: (indiscernible)
20 MR. GREGORY: Your Honor?
21 THE COURT: Okay. Is there anyone else on the
22 phone who'd like to be heard?
23 MR. GREGORY: Yes. I would like to be heard, Your
24 Honor.
25 THE COURT: Okay. Go ahead, Mr. Gregory. The SEC
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1 has ruled whereby if you purchase these securities, you own
2 them as though you own them from day one, and you have
3 standing. Well, it should be considered fraud for these
4 securities to still trade if the prospectus cannot be
5 honored --
6 THE COURT: Well, Mr. Gregory --
7 MR. GREGORY: -- according to the parity rules --
8 THE COURT: I'm not going to --
9 MR. GREGORY: Go ahead.
10 THE COURT: Mr. Gregory, I'm going to engage you
11 in a detailed discussion of what the SEC has or has not
12 said. I will tell you that as far as I'm aware people trade
13 in all sorts of securities that range from worthless to
14 entirely worthless to worth a few pennies to let's see who
15 you sell it to for another penny.
16 This is a bankruptcy case that was conducted
17 pursuant to the rules of this Court, Federal Rules of Civil
18 Procedure as adopted and incorporated into the bankruptcy
19 rules according to the Bankruptcy Code under the glare and
20 spotlight for years and years and years.
21 It resulted in a plan of reorganization. The plan
22 of reorganization contemplated a bar date and an orderly
23 process for the consideration of claims. That's what has
24 occurred here.
25 In fact, this case is coming to its conclusion.
Page 86
Veritext Legal Solutions
212-267-6868 www.veritext.com 516-608-2400
08-13555-scc Doc 59859-1 Filed 08/02/19 Entered 08/02/19 15:15:59 Exhibit A
Pg 87 of 112