The CT subordinate bonds are in the one share trust escrow account. I found what I needed. So BNYM let the CTs continue trading and put their respective subordinate bonds into the one share trust to make the CT holders happy (let the CTs keep trading on the gray market) after the 3/6/2012 delisting. So CTs are indeed equity and the only way one can increase or decrease their holdings is via the CTs trading themselves, because their respective subordinate bonds are locked up in the one share trust escrow account. So CTs are safe from a discharge of debt. JPMorgan owns this same subordinate note CUSIP 5249087M6. See below.
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marayatano Saturday, February 11, 2012 6:05:44 PM
Re: irishintelligence post# 7324 Post # of 12150
No, I own CUSIP 5249087M6, which I believe is the same one below. Although I am not a CT owner, I am a direct owner of the bond itself BNYM.
Quote:
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1.25 Class 10B Subordinated Notes means, collectively, (a) the 6.375% Subordinated
Deferrable Interest Debentures due 2052, issued pursuant to the Fourth Supplemental Indenture,
dated as of March 17, 2003, between LBHI and JPMorgan Chase Bank, as trustee; (b) the
6.375% Subordinated Deferrable Interest Debentures due October 2052, issued pursuant to the
Fifth Supplemental Indenture, dated as of October 31, 2003, between LBHI and JPMorgan Chase
Bank, as trustee; (c) the 6.00% Subordinated Deferrable Interest Debentures due 2053, issued pursuant to the Sixth Supplemental Indenture, dated as of April 22, 2004, between LBHI and
JPMorgan Chase Bank, as trustee; (d) the 6.24% Subordinated Deferrable Interest Debentures
due 2054, issued pursuant to the Seventh Supplemental Indenture, dated as of January 18, 2005,
between LBHI and JPMorgan Chase Bank, as trustee; (e) the 5.75% Subordinated Notes due
2017, issued pursuant to the Ninth Supplemental Indenture, dated as of October 24, 2006,
between LBHI and JPMorgan Chase Bank, as trustee; (f) the Fixed and Floating Rate
Subordinated Notes Due 2032, issued pursuant to the Tenth Supplemental Indenture, dated as of
May 1, 2007, between LBHI and JPMorgan Chase Bank, as trustee; (g) the 6.50% Subordinated
Notes Due 2017, issued pursuant to the Thirteenth Supplemental Indenture, dated as of July 19,
2007, between LBHI and The Bank of New York, as trustee; (h) the 6.875% Subordinated Notes
Due 2037, issued pursuant to the Fourteenth Supplemental Indenture, dated as of July 19, 2007,
between LBHI and The Bank of New York, as trustee; (i) the 6.75% Subordinated Notes Due
2017, issued pursuant to the Fifteenth Supplemental Indenture, dated as of December 21, 2007,
between LBHI and The Bank of New York, as trustee; and (j) the 7.50% Subordinated Notes
Due 2038, issued pursuant to the Sixteenth Supplemental Indenture, dated as of May 9, 2008,
between LBHI and The Bank of New York, as trustee.
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radiumsoup Share Tuesday, February 07, 2012 3:08:37 PM
Re: cottonisking post# 7198 Post # of 9719
took some following the links, but I see it now... It's all starting to come into focus. Thanks for letting me think out loud :)
Basically, per Docket 23011, JPMC (as of 9/21/2009) owned 75,000 shares of CUSIP 5249087M6 at $1,000 per share ($75,000,000) in a pension fund, and they filed a claim on them after their value went to $0. Subsequently, their claim was disallowed as a duplicate of the Mellon claim as trustee for the security via #21802... but that original JPMC claim filing is how we know JPMC is in with us, even if they don't have a direct claim for them any more on that CUSIP.
So what's stopping them from selling (or abandoning) their position there as a quid pro quo for another settlement offer somewhere higher in the waterfall, and leaving us without a champion to fight on our behalf? (assuming recent conversations about JPMC trying to leapfrog ahead of other classes, even though the Plan is confirmed, is accurate)
Truly, this is dizzying to follow - glad I really only have to worry about one class, and really that of just one debtor :)
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