LEHNQ Recent activities 08/17/2014 07:28:38 $LEHNQ
IMHO, something for guster.
if they wil liquidate all until 2018. and all assets are sold and converted into avaible cash. everone will see "pro rata cash" from the distributions, if
for the ct's, their claim will solved, satisfied in full.
and for obs ,if class 3-11 are satisfied in full
08-01420-jmp Doc 5784 Filed 02/26/13 Entered 02/26/13 14:18:50 Main Document
Pg 29 of 159
Quote:
37. On March 16, 2010, pursuant to the CDA among JPMorgan Chase Bank,
N.A. and the Debtors, LBHI acquired the JPM Subrogated Claim against LBI. The JPM
Subrogated Claim was originally asserted as a secured claim to the extent of collateral held by
JPM, and transferred to LBHI pursuant to the CDA. That claim has been settled by allowing a
$1,500,000,000.00 general unsecured creditor claim to LBHI. However, LBHI retains the right
to reconvey the claim, and if it does so, the recipient will not be limited to the $1,500,000,000.00
general unsecured creditor claim. To the extent that the JPM Subrogated Claim is reconveyed by
LBHI, LBHI is to indemnify the LBI Trustee for any distributions in excess of what would be
made on the $1,500,000,000.00 allowed general unsecured creditor claim (the
“Indemnification”). LBHI will establish a cash reserve to secure its Indemnification obligation.
(Kiplok Decl. ¶ 31.)
Quote:
The LBHI Entities will receive allowed general unsecured creditor claims
against LBI, which will receive the same treatment as other general
unsecured claims allowed against the LBI estate, in the aggregate amount
of $12,483,800,000.00, plus a $1,500,000,000.00 allowed general
unsecured claim in satisfaction of all claims for which LBHI is subrogated
to a claim of JPMorgan Chase Bank, N.A. or any of its affiliates (“JPM”)
against LBI and LBHI is obligated to provide the Indemnification
(Settlement Agreement § 2.02(b)(ii));
hi,
another change:
in the faq of 2013: point 68. Can I change brokers?
Yes.
this point is removed from the faq of 2014.
Per this order, it looks like JPMC will receive some cash on September 10, 2014.
***LBI Docket 9520 - The order***
08-01420-scc Doc 9520 Filed 07/30/14 Entered 07/30/14 14:37:02
Main Document
Pg 4 of 267
ORDERED that entry of this Order is without prejudice to the rights of JPMorgan
Chase Bank, N.A., J.P. Morgan Securities LLC (formerly known as J.P. Morgan Securities, Inc.)
and J.P. Morgan Clearing Corp. (each a “JPMorgan Entity” and collectively “JPMorgan”) to
assert, and the Trustee and any other party in interest in the SIPA Proceeding to contest, in the
event that their claims (the “JPM Subrogated Claims”) that were subrogated to Lehman Brothers
Holding Inc. (“LBHI”) pursuant to the Collateral Disposition Agreement dated March 16, 2010
(the “CDA”) to which JPMorgan and LBHI are parties and which was approved by this Court by
an order entered on March 24, 2010 [ECF No. 7785 in LBHI’s chapter 11 case no. 08-13555
(SCC)] are reconveyed to them pursuant to the CDA, that the allowable amount of the JPM
Subrogated Claims exceed $1.5 billion in the aggregate (any allowable amount of the JPM
Subrogated Claims in excess of $1.5 billion in the aggregate, the “Excess JPM Subrogated
Claims Amount”); and it is further
ORDERED that (a) the Trustee shall (i) remit to the relevant JPMorgan Entity any
payments in respect of the Excess JPM Subrogated Claims Amount received from LBHI under
Sections 2.02(b)(ii) and (iii) of the Settlement Agreement dated as of February 21, 2013 to which
the Trustee and LBHI are parties and which was approved by this Court by an order entered on
April 16, 2013 [ECF No. 6020] (the “Excess JPM Subrogated Claims Indemnity Reserve and
Payment Provisions”), (ii) not waive compliance with, waive any rights under or amend the
Excess JPM Subrogated Claims Indemnity Reserve and Payment Provisions, in each case
without JPMorgan’s consent, and (iii) act in accordance with JPMorgan’s reasonable requests in
seeking information, sharing information received and enforcing the Trustee’s rights under the
Excess JPM Subrogated Claims Indemnity Reserve and Payment Provisions, and (b) the Trustee
shall not be required to take into consideration the Excess JPM Subrogated Claims Amount in
setting the amount of the Interim Distribution Fund, any other distributions from the estate or any
reserves in respect thereof; and it is further
ORDERED that the establishment of the Interim Distribution Fund in an amount
of $3 billion or more is approved and that the Interim Distribution Fund shall be used to make a
first interim distribution to the holders of the Allowed Unsecured Claims listed on schedules A
and B annexed hereto and to establish pro rata reserves for the unresolved Claims listed on
schedule C annexed hereto in an amount to be determined by the Trustee; and it is further
ORDERED that the Trustee is authorized to make an interim distribution to the
holders of the Allowed Unsecured Claims listed on schedules A and B annexed hereto and to
release the amounts corresponding to the Allowed Unsecured Claims from the Interim
Distribution Fund; and it is further
ORDERED that the ultimate amount of the interim distribution will be
determined by the Trustee based on an analysis of general estate assets and liabilities at the time
of distribution; and it is further
ORDERED that the record date for the purpose of making the first interim
distribution authorized herein for all holders of Claims is July 15, 2014 (the “Record Date”), and
the Trustee shall publish notice of the establishment of the Record Date on the Trustee’s website
(www.lehmantrustee.com) and such publication shall constitute good and sufficient notice of the
Record Date; and it is further
Yea that's the mantra here slap the ask while the pump monkeys sell to you all their shares then u sell back to them for their next victim once you realize you have been humped by the pump monkeys!!'n
Bottom line here.
Debtor is in the crapper for 200 billion.
POR pays class 10b and OBS to higher ups until they are satisfied in full. Nobody gets satisfied in full cause if the 200 billion $ deficit.
Debtor has repeatedly said the bk wil continue at or after 2018
The pump monkeys here have been wrong in 6 previous attempts soon to be 7.
Until POR is gone stay away STAY AWAY!
Please don't feed the pump monkeys!
LOL! Classic......thanks for the laugh.
Thirteen percent 13% is going to be paid to the allowed General Unsecured Claim of $1.5 billion related to the subrogated claim of JPM on September 10, 2014, with a record date of July 15, 2014.
****
Quote:
From Page 12 of the Balance Sheet:
LBI Settlement Agreement
Settlement Agreement
LBHI $179 $10,216 $1,740 $12,135 $13,735 $(1,600) Notes 6, 7
"
6) Other includes (a) an allowed General Unsecured Claim of $1.5 billion related to the subrogated claim of JPM (our Trustee???) against LBI, which is included in Subrogated Receivables from Affiliates and Third Parties as of March 31, 2013. In addition, LBI transferred all rights and any proceeds from the LBI assets pursuant to the CDA to LBHI. As a result, the Company will record in subsequent Balance Sheets the fair value of the LBI assets in lieu of the Subrogated Receivables from LBI recorded in the Balance Sheets as of March 31, 2013; and (b) a priority claim of $240 million related to certain tax-related disputes."
Is this related to the CTs/Debentures by chance??? The JPM claim was for about $1.5B, it was unsecured, and LBI is the representative mentioned below dealing with the CTs..
From the LHHMQ CT Prospectus:
UNDERWRITING
General
Subject to the terms and conditions of an underwriting agreement dated the date of this prospectus supplement, the trust has agreed to issue and sell to Holdings the total number of preferred securities set forth below (16Mil). Holdings, in turn, has agreed to sell to each of the underwriters named below, and each of the underwriters, for whom Lehman Brothers Inc. is acting as the representative, has severally agreed to purchase from Holdings the number of preferred securities set forth opposite its name below..
cotton, I do remember the "highly confidential" stuff of which you mention.
Once I heard that I immediately think of shennanigans, hush hush, whats going on.......
But on the other side of the coin,,,,positive OR negative things to happen.
Re: the rest of your post,,,lordy lord what you say? I am lucky to get out of it what I got.
Thanks man, at least SOMETHING seems to be coming down the pike. We sure do have a clear division on the thread of whats going down.
Of course I am in the group of lets get some dough, early,,,,,who the heck doesnt like loot. Anyone thats says so,,,,its a bold faced lie, but lets keep that,,,,highly confidential. Lol
LEHNQ is ranked #9 on most read boards. It's a traders tool to see what is hot. Nothing more. Personally, I'm surprised LEHNQ even appears on the hot/most read list.
THIS STOCK IS NOT FOR DAY TRADERS. IN THE REAL WORLD ONLY INSTITUTIONAL INVESTORS BUY CAPITOL TRUST SHARES AS AN INVESTMENT.
Claim # Schedule # Creditor Name Filed Date Total Claim Value
6315 LEHMAN BROTHERS HOLDINGS INC (JPM SUBROGATED CLAIM) 06/07/2013 $1,500,000,000.00 Image
Creditor Address:
ATTN: DANIEL J EHRMANN
1271 AVENUE OF THE AMERICAS, 40TH FLOOR
NEW YORK, NY 10020
Debtor:
08-01420 SIPC vs. Lehman Brothers, Inc. Amounts:
Allowed Unsecured: $1,500,000,000.00
Claimed Unsecured: $1,500,000,000.00
Remarks:
Allowed pursuant to the Bankruptcy Court Order entered on April 16,
2013. See attached.
THIS CLAIM IS ALLOWED
Related Dockets
Docket No. Docket Date Docket Text Related Documents
9520 07/30/2014 Order Pursuant to Sections 105(a), 502(a), 502(c) and 726 of the Bankruptcy Code and Bankruptcy Rule 3009 (I) Capping the Maximum Allowable Amounts, and Establishing an Interim Distribution Fund, for Unsecured Claims, (II) Allowing Certain Unsecured Claims, (III) Authorizing the Trustee to Make a First Interim Distribution to Allowed Unsecured Creditors with a Record Date of July 15, 2014, and Related Relief (Related Doc # [9246]) signed on 7/30/2014. (Chien, Jason)
Case: SIPC vs. Lehman Brothers, Inc.
Related: 9246 Document
9246 06/26/2014 Motion to Authorize / Trustees Motion for an Order Pursuant to Sections 105(a), 502(a), 502(c) and 726 of the Bankruptcy Code and Bankruptcy Rule 3009 (I) Capping the Maximum Allowable Amounts, and Establishing an Interim Distribution Fund, for Unsecured Claims, (II) Allowing Certain Unsecured Claims, (III) Authorizing the Trustee to Make a First Interim Distribution to Allowed Unsecured Creditors with a Record Date of July 15, 2014, and Related Relief filed by Christopher K. Kiplok on behalf of James W. Giddens, as Trustee for the SIPA Liquidation of Lehman Brothers Inc. with hearing to be held on 7/30/2014 at 10:00 AM at Courtroom 623 (SCC) Responses due by 7/21/2014, . (Kiplok, Christopher)
Case: SIPC vs. Lehman Brothers, Inc.
Related: none Document
6020 04/16/2013 Order Signed on 4/16/2013 Approving Settlement Agreement Between the Trustee and the LBHI Entities. (Related Doc # [5784]) (Nulty, Lynda)
Case: SIPC vs. Lehman Brothers, Inc.
Related: 5784
Let's not foret good ol LBI Claim #6315:
6315 LEHMAN BROTHERS HOLDINGS INC (JPM SUBROGATED CLAIM) 06/07/2013 $1,500,000,000.00
Image
or LBI Docket 2262:
2262 12/07/2009
Notice of Presentment of Stipulation and Order Between the Debtors, Trustee, Creditors Committee, Barclays Capital Inc. and JPMorgan Chase Bank, N.A. filed by Amy R. Wolf on behalf of JP Morgan Chase Bank N.A.. with presentment to be held on 12/11/2009 (check with court for location) Objections due by 12/11/2009, (Attachments: # (1) Stipulation and Proposed Order)(Wolf, Amy)
Case: SIPC vs. Lehman Brothers, Inc.
JPM requested to be able to mark certain parts as "Highly Confidential". JPM also never replied to any of the emails we sent out a while back.
The parties involved are LBHI, LBI, Barclays Capital, and JPM. And in the end I believe LBHI gets a $1.5B (or $1.7B) claim against LBI that used to belong to JPM.
Could that $1.5B be where our CTs are hiding??? That should cover it just about right!
LBHI Claim 66455:
66455 LEHMAN BROTHERS HOLDINGS, INC. 04/01/2010 $1,713,624,394.00
Image
From my notes:
JPM claim 27189 filed 9/22/09
CDA Motion is LBHI Docket # 7269 on 2/24/10
CDA is dated 3/16/10, in Docket 7619 (Execution copy)
CDA Signed by court in Docket #7785 on 3/24/10
Claim 66455 is filed on 4/1/10 based on the CDA being ordered by the court
The JPM $1.7B claim is transfered (subrogated) to LBHI on 7/6/10 in LBHI Docket 10036
The claim 66455 is for $1.5B and includes the CTs in Exhibit C (JPMSI/LBHI SECURITIES LAW CLAIMS)
The Motion to approve the settlement between LBHI and LBI is filed on 2/26/13 (LBI Docket 5784)
The Settlement Order is signed on 4/16/13 in LBI Docket 6020
Edit: This is what is in the claim 66455 dealing with the Securities Law Claims:
- JPMSI and its affiliates have contingenet contractual and non-contractual indemity, contribution, equitable and other claims against LBHI for any losses, claims, damages or other liabilities (or actions in respect thereof). joint or several, to which JPMSI and its Affiliates may become subject under securities law or otherwise, including, without limitation, settlement costs, investigation costs and the fees and expenses from counsel arising from, based on or relating to the underwriting, placement and/or sale by JPMSI or its Affiliates of securities issued or guaranteed by LBHI. In circumstances where JPMSI or an Affiliate was the lead managing underwrite, placement agent or the equivalent with respect to an offering of such securities, JPMSI and Affiliates also assert claims of the kind described in the preceding sentence against LBHI on behalf of all underwriters or placement agents in the underwriting or placement syndicate (and their affiliates) with respect to such offer. 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.
- This filing is intended to include, without limitation, all Claims of the types described in the preceding paragraph, including, but not limited to, all such Claims related to the offerings described in Exhibit C.
- Exhibit C includes the 4 CTs as well as
- $1B 6.625% Notes due 2012 issued by LBHI
- $250M Medium Term Notes Series G maturity date 11/15/17
- $300M Series K CT
- 120K shares of Pref F stock
- $300M Series L CT
- $750M Medium Term Notes Series G maturity date 3/13/14
- $500M Medium Term Notes Series G maturity date 3/13/09
- $400M Series M CT
- $200M Series N CT
Who cares where we (LEHNQ) rank.
Rick does.
So just how did LEHNQ get his attention.
POST POST POST must lead to READ READ READ.
Better get more familiar before you make a decision to buy. Don't be fooled by others. You will hear "slap the ask" or buy the asking price of the lowest of the four Cts. The "slap the ask " have been used here since after the bankruptcy six years ago and some people get trapped in buying.
You will also hear a lie that you will receive some cash every time the scheduled distribution to creditor is coming close.
The only game in this stock is the NET OPERATING LOSS or NOL. This is a tax attribute of LBHI losses of about 55B dollars that is owned by the equity holders.
The remaining asset after the total of 80B is distributed is about 43B while the deficit is still more than 200B after all of the asset is distributed.
Good luck if you like the challenge.
It may take a long wait or it may take sooner if they start to put the NOL into use.
Who cares about where we rank. You need to eat nails for breakfast to invest in a BK company. Most investors have been here for over 5 years. Trying to trade any CT's of Lehman Brothers is plain stupid.
The risk/reward is very extreme and if you understand that, then you can make an intelligent/speculative decision. Lehman Capitol Trust shares have a face value of $25.00 with accrued dividends.
This is not a quick trade for beer money. Volume is very low on a daily basis.
RickNagra - A somewhat odd comment since you once posted on the WMIH board.
LEHNQ is a capital trust security along with LEHKQ, LEHLQ and LHHMQ. Dig into some bankruptcy due diligence on capital trust shares and well everything Lehman Chapter 11.
Don't forget to smack or slap the ask while you're analyzing the past several years of information. We certainly need the number of trades to more closely resemble the number of posts on this board.
What's funny (I hope you think so too) is that the LEH in the symbol stands for Lehman Brothers, which is in the end stages of it's bankruptcy, that being the largest bankruptcy in history. I think most people assume they are dead and buried, but I believe they are going to come back with a "bankrupt this" attitude. Plenty of NOLs available so they definitely make a great candidate for a merger at some point.
This symbol is for the $25 face value Capital Trust (CT) preferred shares. The dividends are cumulative and should be around $10/share on top of the FV since they've been accumulating for about 6 years now.
There are 3 other symbols for similar $25 CT shares, those being LEHKQ, LEHLQ, and LHHMQ.
The CTs haven't received a distribution yet but the expectation is that the next one (Oct 2nd) could be when we do. The distributions are semi-annual and the debtor has paid about $80B to creditors so far. It sounds like they should have another $8B for the Oct distribtution.
Cotton,
According to the Prospectus, LBI was acting as the representative for the underwriters...
"Holdings, in turn, has agreed to sell to each of the underwriters named below, and each of the underwriters, for whom Lehman Brothers Inc is acting as the representative, has severally agreed to purchase from Holdings the number of preferred securities set forth opposite its name below".
So LBI was the representative for the underwriters and LBHI has the $1.7B subrogated JPM claim against LBI as part of the CDA.
Perhaps more evidence of the $1.7B claim against LBI being associated with the CTs???
OK so you're in the top 10 now. Most of us have never even heard of you and your company LEHNQ. Can one of you bring of all us up to speed as to what is going on ? None of us know. Thanks.
LMFAO!! Cotton, you think creditors will not scream if they cut the distribution any time they want? What kind of reasoning you have in your mind?
I am asking you now Cotton.
Do you know the rights and power of the creditor?
IMHO, something for guster.
if they wil liquidate all until 2018. and all assets are sold and converted into avaible cash. everone will see "pro rata cash" from the distributions, if
for the ct's, their claim will solved, satisfied in full.
and for obs ,if class 3-11 are satisfied in full
08-01420-jmp Doc 5784 Filed 02/26/13 Entered 02/26/13 14:18:50 Main Document
Pg 29 of 159
Quote:
37. On March 16, 2010, pursuant to the CDA among JPMorgan Chase Bank,
N.A. and the Debtors, LBHI acquired the JPM Subrogated Claim against LBI. The JPM
Subrogated Claim was originally asserted as a secured claim to the extent of collateral held by
JPM, and transferred to LBHI pursuant to the CDA. That claim has been settled by allowing a
$1,500,000,000.00 general unsecured creditor claim to LBHI. However, LBHI retains the right
to reconvey the claim, and if it does so, the recipient will not be limited to the $1,500,000,000.00
general unsecured creditor claim. To the extent that the JPM Subrogated Claim is reconveyed by
LBHI, LBHI is to indemnify the LBI Trustee for any distributions in excess of what would be
made on the $1,500,000,000.00 allowed general unsecured creditor claim (the
“Indemnification”). LBHI will establish a cash reserve to secure its Indemnification obligation.
(Kiplok Decl. ¶ 31.)
Quote:
The LBHI Entities will receive allowed general unsecured creditor claims
against LBI, which will receive the same treatment as other general
unsecured claims allowed against the LBI estate, in the aggregate amount
of $12,483,800,000.00, plus a $1,500,000,000.00 allowed general
unsecured claim in satisfaction of all claims for which LBHI is subrogated
to a claim of JPMorgan Chase Bank, N.A. or any of its affiliates (“JPM”)
against LBI and LBHI is obligated to provide the Indemnification
(Settlement Agreement § 2.02(b)(ii));
hi,
another change:
in the faq of 2013: point 68. Can I change brokers?
Yes.
this point is removed from the faq of 2014.
Per this order, it looks like JPMC will receive some cash on September 10, 2014.
***LBI Docket 9520 - The order***
08-01420-scc Doc 9520 Filed 07/30/14 Entered 07/30/14 14:37:02
Main Document
Pg 4 of 267
ORDERED that entry of this Order is without prejudice to the rights of JPMorgan
Chase Bank, N.A., J.P. Morgan Securities LLC (formerly known as J.P. Morgan Securities, Inc.)
and J.P. Morgan Clearing Corp. (each a “JPMorgan Entity” and collectively “JPMorgan”) to
assert, and the Trustee and any other party in interest in the SIPA Proceeding to contest, in the
event that their claims (the “JPM Subrogated Claims”) that were subrogated to Lehman Brothers
Holding Inc. (“LBHI”) pursuant to the Collateral Disposition Agreement dated March 16, 2010
(the “CDA”) to which JPMorgan and LBHI are parties and which was approved by this Court by
an order entered on March 24, 2010 [ECF No. 7785 in LBHI’s chapter 11 case no. 08-13555
(SCC)] are reconveyed to them pursuant to the CDA, that the allowable amount of the JPM
Subrogated Claims exceed $1.5 billion in the aggregate (any allowable amount of the JPM
Subrogated Claims in excess of $1.5 billion in the aggregate, the “Excess JPM Subrogated
Claims Amount”); and it is further
ORDERED that (a) the Trustee shall (i) remit to the relevant JPMorgan Entity any
payments in respect of the Excess JPM Subrogated Claims Amount received from LBHI under
Sections 2.02(b)(ii) and (iii) of the Settlement Agreement dated as of February 21, 2013 to which
the Trustee and LBHI are parties and which was approved by this Court by an order entered on
April 16, 2013 [ECF No. 6020] (the “Excess JPM Subrogated Claims Indemnity Reserve and
Payment Provisions”), (ii) not waive compliance with, waive any rights under or amend the
Excess JPM Subrogated Claims Indemnity Reserve and Payment Provisions, in each case
without JPMorgan’s consent, and (iii) act in accordance with JPMorgan’s reasonable requests in
seeking information, sharing information received and enforcing the Trustee’s rights under the
Excess JPM Subrogated Claims Indemnity Reserve and Payment Provisions, and (b) the Trustee
shall not be required to take into consideration the Excess JPM Subrogated Claims Amount in
setting the amount of the Interim Distribution Fund, any other distributions from the estate or any
reserves in respect thereof; and it is further
ORDERED that the establishment of the Interim Distribution Fund in an amount
of $3 billion or more is approved and that the Interim Distribution Fund shall be used to make a
first interim distribution to the holders of the Allowed Unsecured Claims listed on schedules A
and B annexed hereto and to establish pro rata reserves for the unresolved Claims listed on
schedule C annexed hereto in an amount to be determined by the Trustee; and it is further
ORDERED that the Trustee is authorized to make an interim distribution to the
holders of the Allowed Unsecured Claims listed on schedules A and B annexed hereto and to
release the amounts corresponding to the Allowed Unsecured Claims from the Interim
Distribution Fund; and it is further
ORDERED that the ultimate amount of the interim distribution will be
determined by the Trustee based on an analysis of general estate assets and liabilities at the time
of distribution; and it is further
ORDERED that the record date for the purpose of making the first interim
distribution authorized herein for all holders of Claims is July 15, 2014 (the “Record Date”), and
the Trustee shall publish notice of the establishment of the Record Date on the Trustee’s website
(www.lehmantrustee.com) and such publication shall constitute good and sufficient notice of the
Record Date; and it is further
Yea that's the mantra here slap the ask while the pump monkeys sell to you all their shares then u sell back to them for their next victim once you realize you have been humped by the pump monkeys!!'n
Bottom line here.
Debtor is in the crapper for 200 billion.
POR pays class 10b and OBS to higher ups until they are satisfied in full. Nobody gets satisfied in full cause if the 200 billion $ deficit.
Debtor has repeatedly said the bk wil continue at or after 2018
The pump monkeys here have been wrong in 6 previous attempts soon to be 7.
Until POR is gone stay away STAY AWAY!
Please don't feed the pump monkeys!
LOL! Classic......thanks for the laugh.
Thirteen percent 13% is going to be paid to the allowed General Unsecured Claim of $1.5 billion related to the subrogated claim of JPM on September 10, 2014, with a record date of July 15, 2014.
****
Quote:
From Page 12 of the Balance Sheet:
LBI Settlement Agreement
Settlement Agreement
LBHI $179 $10,216 $1,740 $12,135 $13,735 $(1,600) Notes 6, 7
"
6) Other includes (a) an allowed General Unsecured Claim of $1.5 billion related to the subrogated claim of JPM (our Trustee???) against LBI, which is included in Subrogated Receivables from Affiliates and Third Parties as of March 31, 2013. In addition, LBI transferred all rights and any proceeds from the LBI assets pursuant to the CDA to LBHI. As a result, the Company will record in subsequent Balance Sheets the fair value of the LBI assets in lieu of the Subrogated Receivables from LBI recorded in the Balance Sheets as of March 31, 2013; and (b) a priority claim of $240 million related to certain tax-related disputes." Is this related to the CTs/Debentures by chance??? The JPM claim was for about $1.5B, it was unsecured, and LBI is the representative mentioned below dealing with the CTs..
From the LHHMQ CT Prospectus:
UNDERWRITING
General
Subject to the terms and conditions of an underwriting agreement dated the date of this prospectus supplement, the trust has agreed to issue and sell to Holdings the total number of preferred securities set forth below (16Mil). Holdings, in turn, has agreed to sell to each of the underwriters named below, and each of the underwriters, for whom Lehman Brothers Inc. is acting as the representative, has severally agreed to purchase from Holdings the number of preferred securities set forth opposite its name below..
cotton, I do remember the "highly confidential" stuff of which you mention.
Once I heard that I immediately think of shennanigans, hush hush, whats going on.......
But on the other side of the coin,,,,positive OR negative things to happen.
Re: the rest of your post,,,lordy lord what you say? I am lucky to get out of it what I got.
Thanks man, at least SOMETHING seems to be coming down the pike. We sure do have a clear division on the thread of whats going down.
Of course I am in the group of lets get some dough, early,,,,,who the heck doesnt like loot. Anyone thats says so,,,,its a bold faced lie, but lets keep that,,,,highly confidential. Lol
LEHNQ is ranked #9 on most read boards. It's a traders tool to see what is hot. Nothing more. Personally, I'm surprised LEHNQ even appears on the hot/most read list.
THIS STOCK IS NOT FOR DAY TRADERS. IN THE REAL WORLD ONLY INSTITUTIONAL INVESTORS BUY CAPITOL TRUST SHARES AS AN INVESTMENT.
Claim # Schedule # Creditor Name Filed Date Total Claim Value
6315 LEHMAN BROTHERS HOLDINGS INC (JPM SUBROGATED CLAIM) 06/07/2013 $1,500,000,000.00 Image
Creditor Address:
ATTN: DANIEL J EHRMANN
1271 AVENUE OF THE AMERICAS, 40TH FLOOR
NEW YORK, NY 10020
Debtor:
08-01420 SIPC vs. Lehman Brothers, Inc. Amounts:
Allowed Unsecured: $1,500,000,000.00
Claimed Unsecured: $1,500,000,000.00
Remarks:
Allowed pursuant to the Bankruptcy Court Order entered on April 16,
2013. See attached.
THIS CLAIM IS ALLOWED
Related Dockets
Docket No. Docket Date Docket Text Related Documents
9520 07/30/2014 Order Pursuant to Sections 105(a), 502(a), 502(c) and 726 of the Bankruptcy Code and Bankruptcy Rule 3009 (I) Capping the Maximum Allowable Amounts, and Establishing an Interim Distribution Fund, for Unsecured Claims, (II) Allowing Certain Unsecured Claims, (III) Authorizing the Trustee to Make a First Interim Distribution to Allowed Unsecured Creditors with a Record Date of July 15, 2014, and Related Relief (Related Doc # [9246]) signed on 7/30/2014. (Chien, Jason)
Case: SIPC vs. Lehman Brothers, Inc.
Related: 9246 Document
9246 06/26/2014 Motion to Authorize / Trustees Motion for an Order Pursuant to Sections 105(a), 502(a), 502(c) and 726 of the Bankruptcy Code and Bankruptcy Rule 3009 (I) Capping the Maximum Allowable Amounts, and Establishing an Interim Distribution Fund, for Unsecured Claims, (II) Allowing Certain Unsecured Claims, (III) Authorizing the Trustee to Make a First Interim Distribution to Allowed Unsecured Creditors with a Record Date of July 15, 2014, and Related Relief filed by Christopher K. Kiplok on behalf of James W. Giddens, as Trustee for the SIPA Liquidation of Lehman Brothers Inc. with hearing to be held on 7/30/2014 at 10:00 AM at Courtroom 623 (SCC) Responses due by 7/21/2014, . (Kiplok, Christopher)
Case: SIPC vs. Lehman Brothers, Inc.
Related: none Document
6020 04/16/2013 Order Signed on 4/16/2013 Approving Settlement Agreement Between the Trustee and the LBHI Entities. (Related Doc # [5784]) (Nulty, Lynda)
Case: SIPC vs. Lehman Brothers, Inc.
Related: 5784
Let's not foret good ol LBI Claim #6315:
6315 LEHMAN BROTHERS HOLDINGS INC (JPM SUBROGATED CLAIM) 06/07/2013 $1,500,000,000.00
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or LBI Docket 2262:
2262 12/07/2009
Notice of Presentment of Stipulation and Order Between the Debtors, Trustee, Creditors Committee, Barclays Capital Inc. and JPMorgan Chase Bank, N.A. filed by Amy R. Wolf on behalf of JP Morgan Chase Bank N.A.. with presentment to be held on 12/11/2009 (check with court for location) Objections due by 12/11/2009, (Attachments: # (1) Stipulation and Proposed Order)(Wolf, Amy)
Case: SIPC vs. Lehman Brothers, Inc.
JPM requested to be able to mark certain parts as "Highly Confidential". JPM also never replied to any of the emails we sent out a while back.
The parties involved are LBHI, LBI, Barclays Capital, and JPM. And in the end I believe LBHI gets a $1.5B (or $1.7B) claim against LBI that used to belong to JPM.
Could that $1.5B be where our CTs are hiding??? That should cover it just about right!
LBHI Claim 66455:
66455 LEHMAN BROTHERS HOLDINGS, INC. 04/01/2010 $1,713,624,394.00
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From my notes:
JPM claim 27189 filed 9/22/09
CDA Motion is LBHI Docket # 7269 on 2/24/10
CDA is dated 3/16/10, in Docket 7619 (Execution copy)
CDA Signed by court in Docket #7785 on 3/24/10
Claim 66455 is filed on 4/1/10 based on the CDA being ordered by the court
The JPM $1.7B claim is transfered (subrogated) to LBHI on 7/6/10 in LBHI Docket 10036
The claim 66455 is for $1.5B and includes the CTs in Exhibit C (JPMSI/LBHI SECURITIES LAW CLAIMS)
The Motion to approve the settlement between LBHI and LBI is filed on 2/26/13 (LBI Docket 5784)
The Settlement Order is signed on 4/16/13 in LBI Docket 6020
Edit: This is what is in the claim 66455 dealing with the Securities Law Claims:
- JPMSI and its affiliates have contingenet contractual and non-contractual indemity, contribution, equitable and other claims against LBHI for any losses, claims, damages or other liabilities (or actions in respect thereof). joint or several, to which JPMSI and its Affiliates may become subject under securities law or otherwise, including, without limitation, settlement costs, investigation costs and the fees and expenses from counsel arising from, based on or relating to the underwriting, placement and/or sale by JPMSI or its Affiliates of securities issued or guaranteed by LBHI. In circumstances where JPMSI or an Affiliate was the lead managing underwrite, placement agent or the equivalent with respect to an offering of such securities, JPMSI and Affiliates also assert claims of the kind described in the preceding sentence against LBHI on behalf of all underwriters or placement agents in the underwriting or placement syndicate (and their affiliates) with respect to such offer. 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.
- This filing is intended to include, without limitation, all Claims of the types described in the preceding paragraph, including, but not limited to, all such Claims related to the offerings described in Exhibit C.
- Exhibit C includes the 4 CTs as well as
- $1B 6.625% Notes due 2012 issued by LBHI
- $250M Medium Term Notes Series G maturity date 11/15/17
- $300M Series K CT
- 120K shares of Pref F stock
- $300M Series L CT
- $750M Medium Term Notes Series G maturity date 3/13/14
- $500M Medium Term Notes Series G maturity date 3/13/09
- $400M Series M CT
- $200M Series N CT
Who cares where we (LEHNQ) rank.
Rick does.
So just how did LEHNQ get his attention.
POST POST POST must lead to READ READ READ.
Better get more familiar before you make a decision to buy. Don't be fooled by others. You will hear "slap the ask" or buy the asking price of the lowest of the four Cts. The "slap the ask " have been used here since after the bankruptcy six years ago and some people get trapped in buying.
You will also hear a lie that you will receive some cash every time the scheduled distribution to creditor is coming close.
The only game in this stock is the NET OPERATING LOSS or NOL. This is a tax attribute of LBHI losses of about 55B dollars that is owned by the equity holders.
The remaining asset after the total of 80B is distributed is about 43B while the deficit is still more than 200B after all of the asset is distributed.
Good luck if you like the challenge.
It may take a long wait or it may take sooner if they start to put the NOL into use.
Who cares about where we rank. You need to eat nails for breakfast to invest in a BK company. Most investors have been here for over 5 years. Trying to trade any CT's of Lehman Brothers is plain stupid.
The risk/reward is very extreme and if you understand that, then you can make an intelligent/speculative decision. Lehman Capitol Trust shares have a face value of $25.00 with accrued dividends.
This is not a quick trade for beer money. Volume is very low on a daily basis.
RickNagra - A somewhat odd comment since you once posted on the WMIH board.
LEHNQ is a capital trust security along with LEHKQ, LEHLQ and LHHMQ. Dig into some bankruptcy due diligence on capital trust shares and well everything Lehman Chapter 11.
Don't forget to smack or slap the ask while you're analyzing the past several years of information. We certainly need the number of trades to more closely resemble the number of posts on this board.
What's funny (I hope you think so too) is that the LEH in the symbol stands for Lehman Brothers, which is in the end stages of it's bankruptcy, that being the largest bankruptcy in history. I think most people assume they are dead and buried, but I believe they are going to come back with a "bankrupt this" attitude. Plenty of NOLs available so they definitely make a great candidate for a merger at some point.
This symbol is for the $25 face value Capital Trust (CT) preferred shares. The dividends are cumulative and should be around $10/share on top of the FV since they've been accumulating for about 6 years now.
There are 3 other symbols for similar $25 CT shares, those being LEHKQ, LEHLQ, and LHHMQ.
The CTs haven't received a distribution yet but the expectation is that the next one (Oct 2nd) could be when we do. The distributions are semi-annual and the debtor has paid about $80B to creditors so far. It sounds like they should have another $8B for the Oct distribtution.
Cotton,
According to the Prospectus, LBI was acting as the representative for the underwriters...
"Holdings, in turn, has agreed to sell to each of the underwriters named below, and each of the underwriters, for whom Lehman Brothers Inc is acting as the representative, has severally agreed to purchase from Holdings the number of preferred securities set forth opposite its name below".
So LBI was the representative for the underwriters and LBHI has the $1.7B subrogated JPM claim against LBI as part of the CDA.
Perhaps more evidence of the $1.7B claim against LBI being associated with the CTs???
OK so you're in the top 10 now. Most of us have never even heard of you and your company LEHNQ. Can one of you bring of all us up to speed as to what is going on ? None of us know. Thanks.
LMFAO!! Cotton, you think creditors will not scream if they cut the distribution any time they want? What kind of reasoning you have in your mind?
I am asking you now Cotton.
Do you know the rights and power of the creditor?
