LEHNQ News 08/16/2014 19:27:14 $LEHNQ
The last paragraph of your post is my point exactly.
I am sure that Cotton will have a better answer than I do but I'll try.
LBI's Trustee is paying LBI's unsecured creditors back $4.6 billion in the Sept. distribution.
We are LBHI. LBHI is an unsecured creditor of LBI's with at least $3 billion in claims.
So LBHI will be getting some more money in September to add to the $8.3 billion "unexpectedly" recovered since April 2014.
LBHI's 6th distribution will be coming October 2nd.
As far as "Wouldn't they fight that tooth and nail?", they already agreed to take less. It is a bankruptcy after all, they could've gotten nothing. They can't renegotiate what they agreed on 2 years ago just because the economy has improved.
Quote:
"In addition, JPMSI and its Affiliates, each as an entity that may be liable with LBHI to a creditor that has not filed a proof of claim, hereby files pursuant to Bankruptcy Rule 3005(a) a proof of claim on behalf of each such creditor covering claims with respect to which JPMSI and the affiliate of JPMSI, as applicable, is a codebtor with LBHI. The name of each such creditor is not currently known"
I've always liked this post.
Now, where in the POR does it cover JPMSI as a codebtor?
I know. Read,read,read.
Puddintane?? That's exactly how I called you guys. I even made a analogy of the three monkeys. So can we say now it's "vice versa"?
Ok, but the POR isk chock-full of deninitions, and it clearly states that the Ct's and OBS for that matter, once all Allowed claims for all those classes 1-11 are satisfied in full, are entitled to pro-rata, we know the rest. Right? Hasn't the trustee just said that it was insurmountable and incredible that this 4.6bil dollar dist to general unseccured creditors are gettin anything, let alone 4.5 billion freaking dollars, no? How could thta happen if the classes above us were not already deemed to be satisfied in full? Wouldn't they fight that tooth and nail? Billions we r talking. Or am I misinterpreting things? An honest and sincere question? We all want to make money here, that's the end goal. My god, their is a huge multi mutli billion dollar NOL that is so easily discounted here, it amazes me. All my opinion, but billions of billions. Gee, nah, nobody wants to utilize that to protect future profits lol. GLTA.
I know who you are now, Puddintane.
Quote:
"If you will bring that up again, my answer will be the same.."
Not confused. But I believe you are the one that is confused.. If you will bring that up again, my answer will be the same..
Satisfied in full = When the Debtors and Board of Directors and US Trustee feel like the creditors are satisfied in full (a group decision and vote).
Same as not filing the scheduling order to lift the stay by July 28, 2014! They have all the power in this bankruptcy.
In all seriousness, are you and Toogood confusing the Disclosure Statement which doesn't mention how 10B will start seeing money:
"Holders of Allowed Claims in LBHI Class 10B are not expected to receive any Distributions on account of such Claims. Any Distributions that would have been paid to such Claims are automatically reallocated to holders of Allowed Senior Unsecured Claims against LBHI, Allowed Senior Affiliate Claims against LBHI, Allowed Senior Affiliate Guarantee Claims against LBHI and Allowed Senior Third-Party Guarantee Claims against LBHI against LBHI pursuant to provisions of the documents underlying the Class 10B Subordinated Notes."
With the POR which does show how 10B will start seeing money:
"Holders of Allowed Claims in LBHI Class 10B shall not receive any Distributions on account of such Claims unless and until all holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B and LBHI Class 5 are satisfied in full, in which case each holder of an Allowed Claim in LBHI Class 10B shall receive its Pro Rata Share of (i) Available Cash from LBHI and (ii) Subordinated Class 10C Distribution."
Maybe this is why the two of you are confused?
Quote:
rlinterests Monday, 08/05/13 02:35:38 AM
Re: None
The last paragraph of your post is my point exactly.
I am sure that Cotton will have a better answer than I do but I'll try.
LBI's Trustee is paying LBI's unsecured creditors back $4.6 billion in the Sept. distribution.
We are LBHI. LBHI is an unsecured creditor of LBI's with at least $3 billion in claims.
So LBHI will be getting some more money in September to add to the $8.3 billion "unexpectedly" recovered since April 2014.
LBHI's 6th distribution will be coming October 2nd.
As far as "Wouldn't they fight that tooth and nail?", they already agreed to take less. It is a bankruptcy after all, they could've gotten nothing. They can't renegotiate what they agreed on 2 years ago just because the economy has improved.
Quote:
"In addition, JPMSI and its Affiliates, each as an entity that may be liable with LBHI to a creditor that has not filed a proof of claim, hereby files pursuant to Bankruptcy Rule 3005(a) a proof of claim on behalf of each such creditor covering claims with respect to which JPMSI and the affiliate of JPMSI, as applicable, is a codebtor with LBHI. The name of each such creditor is not currently known"
I've always liked this post.
Now, where in the POR does it cover JPMSI as a codebtor?
I know. Read,read,read.
Puddintane?? That's exactly how I called you guys. I even made a analogy of the three monkeys. So can we say now it's "vice versa"?
Ok, but the POR isk chock-full of deninitions, and it clearly states that the Ct's and OBS for that matter, once all Allowed claims for all those classes 1-11 are satisfied in full, are entitled to pro-rata, we know the rest. Right? Hasn't the trustee just said that it was insurmountable and incredible that this 4.6bil dollar dist to general unseccured creditors are gettin anything, let alone 4.5 billion freaking dollars, no? How could thta happen if the classes above us were not already deemed to be satisfied in full? Wouldn't they fight that tooth and nail? Billions we r talking. Or am I misinterpreting things? An honest and sincere question? We all want to make money here, that's the end goal. My god, their is a huge multi mutli billion dollar NOL that is so easily discounted here, it amazes me. All my opinion, but billions of billions. Gee, nah, nobody wants to utilize that to protect future profits lol. GLTA.
I know who you are now, Puddintane.
Quote:
"If you will bring that up again, my answer will be the same.."
Not confused. But I believe you are the one that is confused.. If you will bring that up again, my answer will be the same..
Satisfied in full = When the Debtors and Board of Directors and US Trustee feel like the creditors are satisfied in full (a group decision and vote).
Same as not filing the scheduling order to lift the stay by July 28, 2014! They have all the power in this bankruptcy.
In all seriousness, are you and Toogood confusing the Disclosure Statement which doesn't mention how 10B will start seeing money:
"Holders of Allowed Claims in LBHI Class 10B are not expected to receive any Distributions on account of such Claims. Any Distributions that would have been paid to such Claims are automatically reallocated to holders of Allowed Senior Unsecured Claims against LBHI, Allowed Senior Affiliate Claims against LBHI, Allowed Senior Affiliate Guarantee Claims against LBHI and Allowed Senior Third-Party Guarantee Claims against LBHI against LBHI pursuant to provisions of the documents underlying the Class 10B Subordinated Notes."
With the POR which does show how 10B will start seeing money:
"Holders of Allowed Claims in LBHI Class 10B shall not receive any Distributions on account of such Claims unless and until all holders of Allowed Claims in LBHI Class 3, LBHI Class 4A, LBHI Class 4B and LBHI Class 5 are satisfied in full, in which case each holder of an Allowed Claim in LBHI Class 10B shall receive its Pro Rata Share of (i) Available Cash from LBHI and (ii) Subordinated Class 10C Distribution."
Maybe this is why the two of you are confused?
Quote:
rlinterests Monday, 08/05/13 02:35:38 AM
Re: None
