Replies to post #70788 on Lehman Brothers Financial SA (LEHNQ)

[LexingtonVIII]

@Newflow:

Classes in 3,4,5 and 6 have to be paid in full before class 10A and 10B start to see anything

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Just a FYI as the term used in the POR was rather satisfied in full.
It appears that there is a nuance between both terms....

cheers!

[s404n1tn0cc]

You come to a newflow low thats .0001 low.

See here.
http://webcache.googleusercontent.com/search?q=cache:RMEwru1FbkIJ:portal-redirect.epiq11.com/LBH/document/GetDocument.aspx%3FDocumentId%3D2824158+&cd=4&hl=en&ct=clnk&gl=us.

See the word "Satisfied" in full. And not "Paid in Full" IMO

And I quote

"


Page 1
Lehman Brothers Holdings Inc., as Plan Administrator Responses to Questions Received From Creditors – 2015 Page 1 The information included herein is an aggregation of previously published responses to questions received from creditors. These responses were included in various documents filed by the Company throughout 2015. The reader should refer to the respective documents referenced in connection with these responses. Capitalized terms used in the responses herein have the meanings ascribed to them in the respective documents. These responses (i) have not been updated since their initial filing dates, as noted below, and (ii) are not provided for and should not be relied upon for investment guidance. I. Responses to Questions Related to Distributions 1. QUESTION: Certain holders of Allowed Guarantee Claims (Claims in LBHI Class 5 and LBHI Class 9A) have been satisfied in full from a combination of Distributions from LBHI and consideration from Other Debtors (e.g. LOTC, LBCC) and Non-Controlled Affiliates. The Plan reserves LBHI the right to recover by “subrogation, disgorgement, or otherwise” amounts paid by LBHI that exceed the amount required to satisfy the Claims in full. If and when LBHI recovers amounts that exceed the amount required to satisfy the Claims in full, will LBHI recover (or true up against future distributions) amounts that LBHI Class 3 and LBHI Class 7 received as Plan Adjustment from corresponding satisfied Claims in LBHI Class 5 and LBHI Class 9A. Response: In accordance with Sections 8.13 and 8.14 of the Plan, to the extent an Allowed Guarantee Claim is deemed satisfied in full, LBHI shall be entitled to receive future Distributions or consideration on account of the corresponding Primary Claim as a subrogee. In accordance with section 8.13(f) of the Plan, such recovered amounts are to be treated as Available Cash of LBHI and distributed accordingly. In accordance with the above, LBHI, as guarantor, is not entitled to recover (or true up against future distributions) amounts paid with respect to Claims in either LBHI Class 3 or LBHI Class 7 as Plan Adjustment when Distributions to the satisfied Guarantee Claims were initially made. For example, for primary claims at LOTC Class 4 and LBCC Class 4 that have been satisfied in full, LBHI has recovered amounts equal to the Distributions made by LBHI on account of the Guarantee Claims which do not include Distributions contributed to Plan Adjustments. Included in the Quarterly Financial Report as of April 2, 2015 [Docket No. 50478]
Page 2
Lehman Brothers Holdings Inc., as Plan Administrator Responses to Questions Received From Creditors – 2015 Page 2 2. QUESTION: In the “D7 Activity Bridge” schedule included in the March 2015 Cash Operating report, please clarify if the $11,068.1 million of LBHI Class 4B allowed claims eligible for distribution at D7 include the $1.008 billion LBIE guarantee claim. Response: Yes, the allowed claims amount eligible for distribution at D7 include the $1.008 billion LBIE guarantee claim Included in the Quarterly Financial Report as of April 2, 2015 [Docket No. 50478] II. Responses to Questions Related to Post Sixth Distribution Cash Flow Estimates 3. QUESTION: Does “Total Cash From Operations + Intercompany Receipts” as shown in the Debtor Analysis section reflect the reallocation of value to LBHI through the Plan Adjustment mechanism as defined in the POR? Response: Distributions through the Plan Adjustments mechanism from Participating Debtors are not reflected in the “Total Cash From Operations + Intercompany Receipts” balances at LBHI. LBHI does not record the receivable for the Plan Adjustments, which are calculated at each distribution, and therefore, the cash activity from the Participating Debtors to LBHI Class 3 and Class 7 creditors are not included in the “Total Cash From Operations + Intercompany Receipts.” Included in the Quarterly Financial Report as of April 2, 2015 [Docket No. 50478] III. Responses to Questions Related to Notice Regarding Seventh and Eighth Distributions 4. QUESTION: Why is there a difference at LBSF between the aggregate January-March 2015 Derivatives cash inflows as shown in the monthly Cash Operating Reports versus the amount showed in “Subsequent Collections” in the Exhibit C of the 7th Distribution Notice? Response: The “Subsequent Collections” amount in Exhibit C only reflects cash collections up to the asset’s recovery value included in the Financial Inventory as of December 31, 2014 while the monthly Cash Operating Reports reflect the actual cash collected on the asset during the period, January through March 2015. Included in the Quarterly Financial Report as of April 2, 2015 [Docket No. 50478]
Page 3
Lehman Brothers Holdings Inc., as Plan Administrator Responses to Questions Received From Creditors – 2015 Page 3 5. QUESTION: In reference to “Exhibit D” of the Notice Regarding Eighth Distribution [Docket No. 50984], please clarify how much of LBHI’s “Allowed Claims Eligible for Distributions at D8” of $229,234.6 million relates to allowed claims that LBHI holds against itself. Response: LBHI is the holder of allowed claims against itself of approximately $12.4 billion, primarily comprised of (i) $7.8 billion of Class 4A claims, (ii) $1.9 billion of Class 9B claims, (iii) $1.2 billion of Class 3 claims, (iv)$0.7 billion of Class 9A claims, and (v) $0.6 billion of Class 7 claims. Included in the August 2015 - Post Effective Operating Report [Docket No. 51020] IV. Reponses to Questions Related to Monthly Cash Operating Reports 6. QUESTION: In the October 2014 Cash Operating Report, please clarify the source and nature of the $190 million receipt at LCPI under the heading “Intercompany Receipts.” Response: The $190 million cash receipt at LCPI mainly related to repayments on intercompany balances by Debtor-Controlled Entities, primarily Lehman ALI, Inc. of $130 million, in advance of the sixth Plan distribution. Included in the Quarterly Financial Report as of April 2, 2015 [Docket No. 50478] V. Reponses to Questions Related to Quarterly Financial Reports 7. QUESTION: According to the Company’s Quarterly Financial Reports, LBHI’s receivable from Lehman Brothers Asia Holdings (“LBAH”) was $9,127 million, $9,245 million and $9,593 million as of June 30, 2014, December 31, 2014, and June 30, 2015, respectively. Please explain the increase in this receivable balance. Response: The increase in LBHI’s receivable from LBAH is primarily related to claims assigned to LBHI as a result of the dissolution of certain Debtor-Controlled Entities. Included in the August 2015 - Post Effective Operating Report [Docket No. 51020]"

[porkchopranch]

Thx New. Anyone have a link to the waterfall?