Replies to post #46969 on Lehman Brothers Financial SA (LEHNQ)

[robigus]

C. The Subrogated Claims
9. JPMCB filed (a) claim number 66455 against LBSF (the “LBSF Claim”) asserting claims in the net unsecured amount of approximately $1.7 billion, and (b) claim number 66476 against LBCC (the “LBCC Claim”) asserting claims in the net unsecured amount of $125 million, for a total unsecured claim amount of approximately $1.825 billion. These amounts are net of JPMCB’s setoff of approximately $410 million in funds belonging to LBSF with respect to the LBSF Claim and further reductions of approximately $220 million of the LBSF Claim and the LBCC Claim based upon JPMCB’s setoff of amounts due to LBSF or LBCC from JPMCB’s affiliates, which setoffs are contested by LBSF and LBCC. JPMCB also filed claim number 66462 against LBHI (the “LBHI Claim” and, together with the LBSF Claim and the LBCC Claim, the “JPMCB Claims”), asserting that LBHI is a guarantor of the LBSF Claim and the LBCC Claim and that such guarantee obligations are secured by collateral pursuant to a Security Agreement dated September 9, 2008.

[robigus]

Another double post.

[Fanatical Infidel]

Nice find Robigus!!

Am I reading this correctly? If this is approved September 9th, our claim will be getting over 500 million plus enhanced interest from the 6th distribution.

pg.7 of 20
LBSF’s investment of Cash reserved for claim number 66455 against LBSF is referred to herein as the “LBSF Investment”and LBCC’s investment of Cash reserved for claim number 66476 against LBCC is referred to herein as the “LBCC Investment” and collectively, the “Investments.”

pg.15 of 20
A. Approval of the Investments is in the Best Interests of Creditors
16. Pursuant to the Investments, LBSF and LBCC may loan to LBHI the LBSF Investment Amount and the LBCC Investment Amount in exchange for a rate of return that is enhanced compared to the rate that otherwise would be earned on the investment of such amounts. The Investments will make immediately available for distribution to holders of Allowed Claims against LBHI, including holders of Allowed Claims against LBSF and LBCC with corresponding Guarantee Claims against LBHI, amounts – over $560 million, plus any additional amounts to be reserved on account of the LBSF Claim and the LBCC Claim in connection with future Distributions – that otherwise would become available only after the disputes with JPMCB are resolved at some unknown future date. This accelerated Distribution will provide substantial benefit to the creditors of LBHI and creditors of LBSF and LBCC
holding allowed Guarantee Claims against LBHI.
17. In addition, enhanced interest will be paid on the Investments at the rate of 0.50% in excess of the interest rate paid on LBSF’s and LBCC’s investment of its other disputed claims reserves until such time as the LBSF Claim and the LBCC Claim are judicially resolved or settled. This enhanced return will increase the cash available for Distribution to creditors of LBSF and LBCC to the extent any portions of the LBSF Claim or LBCC Claim are disallowed.

http://dm.epiq11.com/LBH/Document/GetDocument/2513990

[daisyxu]

What is the relationship oetween 66455

With CTS claims 22122, 22123, 21805, and 67753 please?

[stoxjock]

Wow! Thanks for Your Diligence and posting this here. Things have surely started gettin' interestin'. Glad I loaded up some more CTs yesterday.

[rainbow1111]

removed by poster. question answered.

[Go smky]

This needs to be stickyed!

[guster0]

Motion to Authorize / Motion for Authorization for Lehman Brothers Special Financing Inc. and Lehman Brothers Commercial Corporation to Invest Disputed Claims Reserves for Claim Numbers 66455 and 66476 Pursuant to Section 8.4 of the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc.

Please tie these 2 claims back to the claims for CT's

I can't find anything related????

[hestheman]

Robigus....I am just getting in for a few minutes and saw your DD posted, excellent work! You da man! If CT holders aren't excited by this....I don't know what it will take!