The Barclays stock distributions (BCS) held in the LBHI Plan Trust has to reach the Debtors and Successors target price for the stock/asset swap.
Over 300 million BCS shares were dumped on the market less than 52 weeks ago, driving the BCS stock price down to $9.23 per share. Today the price hit $18.80.
Barclays avoided being partly nationalized, since the 2008 financial meltdown, and now their tactics are being investigated by the British authorities.
Other reasons for long delay:
1) Plan Confirmation - 12/6/2011
2) Effective Date - 3/6/2012
3) Sum total Creditor payments/reserves up to 4/4/2013 - $50B
In my eyes, the Debtors and Successors are moving at the speed of light.
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