Replies to post #100052 on Lehman Brothers Financial SA (LEHNQ)

[SwissCheeseAccount]

Though the SIPA Proceeding is not a reorganization, its need to close—and its creditors’
need to move to a new phase of recovery—is clear. Furthermore, the implementation of this
Liquidating Trust is similar to a chapter 11 plan in that it provides for distributions to creditors. A
critical component of this plan is that the Liquidating Trust Interests be freely transferable. Thus,
they must be exempt from securities registration requirements.

Section 1145(c) causes an offer or sale
of securities of the kind and in the manner specified under section 1145(a)(1) to be deemed to be
a public offering. See 11 U.S.C. § 1145(c).

That value is enhanced by the fact that the Liquidating
Trust Interests will be freely transferrable on the basis that their issuance is deemed to be a public
offering under section 1145(c)

From ECAPS motion:

https://casetext.com/case/in-re-lehman-bros-holdings-inc-19

Instead, the Plan Administrator merely asserts that issuance of the Substituted Preferred Stock "may increase the value of the Chapter 11 Estates, without adversely affecting any creditor of the Chapter 11 Estates (in its capacity as such), and should be approved.

Again, I highly doubt LBHI will not distribute $40billion worth of shares and let creditors go home with a loss. That defeats the whole purpose of bankruptcy to repay creditors.

[Jimzin]

this document slipped by
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Cheese Whiz, don't let that happen again! we pay you top dollar to stay on top of this stuff...
we'll let you off with a written warning this time, but next time Joisey Boy will send some guys to check in on your health! if you's knows what I means...

cheers brother!

[SwissCheeseAccount]

https://dm.epiq11.com/case/lehmantrustee/dockets

Docket # 15369

Docket # 15368


Orders are now authorized.

Here’s something I found interesting. The Bank of New York is the trustee for the CT’s. They are the ones that filed the claim against the LBHI estate. If you go to docket 15368, and scroll all the way to the bottom (pages 50-51) you’ll see a list of all of the entities who have interest in the liquidating trust. You’ll see:

BANK OF NEW YORK MELLON, THE With a liquidating trust interest of 1. Is this 1 the CT’s claim??? Just a thought!