Replies to post #108980 on Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

See LBHI's Class 10A Distributions (no reallocation) to ECAPS345 Holders below:

To give effect to agreements of holders of Subordinated Claims, all Distributions under the Plan 🤑made by LBHI shall be calculated as if each holder of an Allowed Claim in LBHI Class 10A, LBHI Class 10B and LBHI Class

It is okay for LBH to use their cash to pay the CTs Holders based on an agreement. LBHI only reallocate their cash.

Claims by LP I, LP II and LP III against Lehman Brothers Holdings Plc (“LBH”)  
  4.2 Paragraphs 4.3 to 4.33 are only of direct relevance to the Account Holders of Securities   
  issued by LP I, LP II, and LP III.   
  4.3 LBH issued subordinated loan notes to LP I, LP II, and LP III in return for the payment   
  of the regulatory capital that had been raised by the issuance of the Securities by LP I,   
  LP II, and LP III. These three Partnerships have a claim for payment of a dividend by   
  LBH in relation to the subordinated notes that were issued.  
  4.4 The Joint Administrators of LBH have issued an updated estimated outcome statement   
  for LBH dated June 2023, which is available for view on PwC’s website as follows:  
  Lehman Brothers Holdings PLC Update - June 2023 (pwc.co.uk)  
  4.5 The above link provides a narrative update relating to matters impacting the financial   
  outcome for creditors of the LBH estate together with an updated estimated financial   
  outcome statement and is directly relevant to the estimated value of the three   
  Partnerships’ claims for payment of a dividend by LBH in relation to the subordinated   
  notes.  
  Receipts and payments summaries as at 21 September 2023  
  LP III LP IV LP V  
  € € $  
  Asset Realisations   
  Matured money market investment 12,820,347 10,817,135 26,729,664  
  Swaps settlement - - 2,000,000  
  Bank Interest 19,692 1,094 1,133,402  
  12,840,039 10,818,229 29,863,065  
  Cost of Realisation   
  Funding contributed to LB GP No.1 Ltd (4,999,935) (1,189,875) (3,160,263)  
  Bank charges (8) (34) (196)  
  Realised Fx Loss (3,699) - -  
  (5,003,643) (1,189,909) (3,160,459)  
  Distributions   
  ECAPS Accountholders - (9,000,000) (25,000,000)  
  - (9,000,000) (25,000,000)  
  Current cash balances €7,836,396 €628,320 $1,702,606  
  Note: The only assets of LP I and LP II are the Sub-Notes claims in the LBH Administration, as such LP I and LP   
  II have not realised any assets to date. The future realisations of LP I, LP II and LP III will depend upon eventual   
  recoveries from LBH in relation to the Sub-Notes claims, which are subject to ongoing litigation. Liquidation   
  costs remain subject to re-apportionment in due course, including some costs to LP I and LP II.

[JERSEYHAWG]

Claims are satisfied in full

Likewise brother Jim..amen

There had to be a catch all.....lol

Theres allways A CATCH

🤪