Replies to post #115550 on Lehman Brothers Financial SA (LEHNQ)

[JERSEYHAWG]

No offense.
Can we stop with stupid lawsuit talk. Imoh. Its not worth it. No law firms want it. Who has years to wait. Who wants to pay for it. Who wants to find a law firm. Who wants to do all this crap.
Easy answer. NO ONE
just let it take it's course. Thats all that can be done. 

[indepth05]

<<<<So what was 650B in assets is now worth. 975 Billion ... More than>>>_________
I'm amazed that after all these years, many of you guys still don't understand what they are holding!!
Lehman reported $639B–$650B in assets in 2008 were not real cash,and never truly existed as spendable value , it was an accounting illusion that collapsed when markets priced reality.
The $650B didn’t disappear. When the company collapsed, here is exactly what happened to them:
1. A Large Portion Was “Fake Value” (Overstated Assets), consisted of: Level-3 mortgage securities, over-leveraged derivative positions, commercial real estate, loans marked at fantasy prices, Repo 105 accounting tricks
2. Major Operating Units were sold cheap, Lehman was forced to sell its best assets in a fire sale to Barclays (USA) for around $47B  (book value was far higher)  including U.S. broker-dealer business, NY headquarters building, Trading books and Exchange memberships.
Lehman sold to Nomura (Asia + Europe) the Investment banking division, Equities, fixed income divisions. Nomura paid $2–3B (also massively discounted).
3. The estate liquidated assets for 14+ Years, LBHI sold Mortgage-backed securities,Real estate, Private equity stakes, Loans, Derivative portfolios..Some sold at fair value, many at 60–95% discounts because the market was dead.
4. Derivative Close-Outs Consumed an Enormous Amount. Lehman had around 900,000 derivative contracts, $700B+ notional exposure, 9,000+ counterparties. After termination events Lehman owed billions, Losses ate up huge asset portions. Many positions were settled at a negative value for LBHI. This drained enormous liquidity. termination losses on derivatives cost the estate at least $50+ billion.
5. Legal + Administrative Costs > $10 Billion
6. Remaining Value Went to Creditor Recoveries.
Therefore, Roughly $10B–$14B more must enter the estate before our shares gets a recovery trigger.
Again , as TGF said from day one..This can only come from NOL monetization ; CREDITORS , or if a new reorganized entity emerges. We'll get some $$$$ also from final mega-claims resolution, Remaining litigation wins, Residual asset sales, and Tax refunds.
No Distributions, No Cash, No lawsuits, No derivative, No fancy dreams...Only facts !!And I'm holding my shares , Fly or Die..
GLTA..