Replies to post #75289 on Lehman Brothers Financial SA (LEHNQ)

[inesdefilia]

Nothing

[cottonisking]

The BNYM CTs allowed claims are currently classified as equity interest due to bankruptcy code 510(b).

We want the debtors to know that we do not wish to end up like AIG's shareholders!

***

"Starr had been New York-based AIG’s largest shareholder, with a 12 percent stake. It sought more than $40 billion of damages for shareholders.

In June 2015, Court of Federal Claims Judge Thomas Wheeler agreed with Starr that the New York Fed overstepped its authority in arranging the $85 billion loan, but he refused to award damages because AIG would have gone bankrupt without it."

http://www.insurancejournal.com/news/national/2017/05/10/450449.htm



*** Old Post ***

cottonisking Saturday, 10/14/17 10:36:28 AM
Re: cottonisking post# 75127
Post # of 75291

1.5 Available Cash means...



LBHI's TRuPS = "Unaffected Matters" = Secured Claims by JPMCB and LBHI as co-debtors!


"
DEBTORS’ DISCLOSURE STATEMENT FOR

THIRD AMENDED JOINT CHAPTER 11 PLAN OF LEHMAN

BROTHERS HOLDINGS INC. AND ITS AFFILIATED DEBTORS

PURSUANT TO SECTION 1125 OF THE BANKRUPTCY CODE


*** Can you find "Secured Claims" below? ***



1.5 Available Cash means (a) all Cash of a Debtor realized from its business operations, the sale or other disposition of its assets, the interest earned on its invested funds, recoveries from Litigation Claims or from any other source or otherwise less (b) the amount of Cash (i) necessary to pay holders of Allowed Administrative Expense Claims, Priority Tax Claims, Priority Non-Tax Claims, Secured Claims, Convenience Claims and Convenience Guarantee Claims against such Debtor in accordance with the Plan, and (ii) estimated and
reserved by such Debtor to (A) adequately fund the reasonable and necessary projected costs to carry out the provisions of the Plan with respect to such Debtor on and after the Effective Date, (B) pay all fees payable under section 1930 of chapter 123 of title 28 of the United States Code and (C) fund and maintain any postpetition reserve requirements in connection with any agreements or otherwise. Available Cash shall include the applicable portions of (i) excess amounts retained for Disputed Claims that become available in accordance with Section 8.4 of the Plan, (ii) amounts represented by undeliverable Distributions in accordance with Section 8.7, or (iii) amounts attributable to voided checks in accordance with Section 8.9 of the Plan."

*** Can you find allowed claims below? ***


"1.51 Equity Interest means (a) shares of common stock, preferred stock, other forms of ownership interest, or any interest or right to convert into such an equity or ownership interest or to acquire any equity or ownership interest or any interest or right for which the amount owing is determined by reference to an equity or ownership interest, including, without limitation, vested and/or unvested restricted stock units, contingent stock awards, contingent equity awards, performance stock units, and stock options or restricted stock awards granted under management ownership plans, the LBHI 2005 stock incentive plan or the LBHI employee incentive plan, in any Debtor that was in existence immediately prior to or on the Commencement Date for such Debtor, and (b) Allowed Claims against LBHI arising out of, relating to, or in connection with any of the foregoing that are subject to section 510(b) of the Bankruptcy Code."

https://www.sec.gov/Archives/edgar/data/806085/000119312511239866/dex991.htm