LEHNQ Opinions 08/17/2014 08:28:29 $LEHNQ
I am starting to pretty much agree with this...no I am basically completely agreeing with this
Sorry, u guys know the balance sheet
-+++++++++++++
Deficit of more than 200B includes other small things but you can just look at the subject to compromise and compare it to the remaining asset of about 40B. The difference is so large thai you won't need a accuracy to see the picture.
I don't disagree. It also says certain classes will not be paid til others are satisfied in full. Now, my memory may stink, but I seem to recall that some classes have been satisfied in full. The POR says "allowed claims satisfied in full" several, several times. Allowed claims. How much in total are the allowed clsims of the classes (minus 12 which gets nada til 1-11 have been "satsfied in full..." the Allowed claims that the POR clearly states over and over.
And I also agree that allowed claims were defined in the $65bil liquidation plan were stated to be $322bil. That's a lot of allowed and makes it understandable that without NOL (the only chance for equity imo--i have mostly equity and I am not afraid to say it or understand it still a loOong shot). How much "allowed claims" $ been paid out so far. Sorry, u guys know the balance sheet well.
There will be ZERO recovery for the ....
++++++++++++
Slow down !!
I agree with the most but there is NOL.
You think zero because of cancellation of debt (COD) .
IT WILL NOT HAPPEN THIS WAY !!!
DO MORE OF YOUR DD.
This board and all except one poster reminds me of Beatrice on the esurance commercial. This is not how it works, it is not how anything that you guys are posting works in the BK.
http://www.esurance.com/commercials/beatrice
The ONLY play here is an arbitrage play on the class 3 unsecured debt claims on a bet that more assets sales will find a bit more funds than what is estimated at this point. There is no agreement for class 3 creditors to be limited to any kind of recovery on their approved claims, and there is a GIANT shortfall in them being paid in full whereas then the class 10 b claims start getting distributions.(I know there are even other classes that come before 10B but all one needs to think about is class 3 being satisfied.)
There is no NOL play. All the NOLs will cancelled out be the cancellation of debt certificates as there will be much more than $55 bil of COD ( there is no telling how much of the NOls are still left as thet=y are being used to offset taxes on capital gains of assets being liquidated now). The underlying subordinated bonds that the CTs hold that gives you the income stream from those bonds have been cancelled. The holders of the CT stock such as LEHNQ now only hold a class 10B claim against the estate. These Cts have no equity rights, nor would that be of any value as the complete estate is to be liquidated for the benefit of the creditors. The Cts are on parity with the most senior preferreds which are the other Cts. That liquidation priority is what puts them at a class 10B claim and subordinate to the more senior unsubordinated claims. There are NO accrued dividends.
There will be ZERO recovery for the traditional preferred, or the common share holders in the OBS. This is not my opinion, it is fact. All one needs to do is study the disclosure statement and POR, as well as the most recent balance sheets to confirm this. Samething for the CTs class 10b claims.
Many of you are also confusing the SIPA Lehman BK with the LEhman Holdings BK. Yes, Lehman holdings has a claim against the SIPA Lehman bk, but the recovery will just be another drop in the bucket relative to what is still owned classes 3 through 9.
I will not be able to respond to this post as I only emerged from my bunker long enough to read so much misinformation here that I felt that any newbies attracted by the top 10 most active boards list need to know there is something other than "Beatrice's" opinion on how this all works. I will now go back to my bunker to research stock and bond plays that will make money. I suggest you all do the same. Just crazy the amount of postings you guys are doing on these CTs that eventually will go to zero. What most (all) of you are posting is not how any of this works.
Guster is the only voice of reason here. Yet, I think he still grasp to hope that something good will come out of this. Toogood too except for his failed logic that this is a NOL play.
My follow up for Hestheman,
"AND I AM NOT FROM THE US OF A"
you agreed to 25perc of that, estate a......
++++++++++++++
This is the problem ever since.
Many of you guys believe that creditors agreed on the estimate of the 65B distributable as the point of satisfied in full. (HESTHEMAN STARTED THIS IN HIS OWN LOGIC)
Logically sound to Hestheman as he claimed but this is a pure speculation.
1. The POR did not mention that the estimated 65B distributable asset is the point of satisfied in full.
2. POR IS NOT WRITTEN TO BE INTERPRETED BY LOGIC.
3. POR IS A LEGAL DOCUMENT THAT MUST TELL YOU ITS PLAN DIRECTLY WITH ACCURATE WORDS AS POSSIBLE.
4. POR IS TELLING US DIRECTLY THAT THE CREDITORS MUST RECEIVE ITS "PRORATA SHARE OF ALL ASSET UNTILL SATISFIED IN FULL "
The problem is the ignorance to the terminology used but indeed is very accurate.
So the allowed claim to gen unsec. Is $12.483 bill plus the 1.5 jpm. Initial distribution of 4.6bil (per trustee) is roughly a third of the allowed needing paid to be satisfied? If yes, then I can see why we have a ong way to go imo, at least for any equity chance. Have classes, really more so WHICH classes in 1-9 have benn satisfied in full? Obviously not 7--gen unsecured, but what about others?
We should have a running tally or list of who has been deemed satisfied in full so far. Then we can check each one off as time goes. What's the amount of available cash now?
U see what I'm saying right?
Freakin A, right? Lol. Thanx for seing my logic
THANKS JOVI!
Now I get your point.
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
I am starting to pretty much agree with this...no I am basically completely agreeing with this
Sorry, u guys know the balance sheet
-+++++++++++++
Deficit of more than 200B includes other small things but you can just look at the subject to compromise and compare it to the remaining asset of about 40B. The difference is so large thai you won't need a accuracy to see the picture.
I don't disagree. It also says certain classes will not be paid til others are satisfied in full. Now, my memory may stink, but I seem to recall that some classes have been satisfied in full. The POR says "allowed claims satisfied in full" several, several times. Allowed claims. How much in total are the allowed clsims of the classes (minus 12 which gets nada til 1-11 have been "satsfied in full..." the Allowed claims that the POR clearly states over and over.
And I also agree that allowed claims were defined in the $65bil liquidation plan were stated to be $322bil. That's a lot of allowed and makes it understandable that without NOL (the only chance for equity imo--i have mostly equity and I am not afraid to say it or understand it still a loOong shot). How much "allowed claims" $ been paid out so far. Sorry, u guys know the balance sheet well.
There will be ZERO recovery for the ....
++++++++++++
Slow down !!
I agree with the most but there is NOL.
You think zero because of cancellation of debt (COD) .
IT WILL NOT HAPPEN THIS WAY !!!
DO MORE OF YOUR DD.
This board and all except one poster reminds me of Beatrice on the esurance commercial. This is not how it works, it is not how anything that you guys are posting works in the BK.
http://www.esurance.com/commercials/beatrice
The ONLY play here is an arbitrage play on the class 3 unsecured debt claims on a bet that more assets sales will find a bit more funds than what is estimated at this point. There is no agreement for class 3 creditors to be limited to any kind of recovery on their approved claims, and there is a GIANT shortfall in them being paid in full whereas then the class 10 b claims start getting distributions.(I know there are even other classes that come before 10B but all one needs to think about is class 3 being satisfied.)
There is no NOL play. All the NOLs will cancelled out be the cancellation of debt certificates as there will be much more than $55 bil of COD ( there is no telling how much of the NOls are still left as thet=y are being used to offset taxes on capital gains of assets being liquidated now). The underlying subordinated bonds that the CTs hold that gives you the income stream from those bonds have been cancelled. The holders of the CT stock such as LEHNQ now only hold a class 10B claim against the estate. These Cts have no equity rights, nor would that be of any value as the complete estate is to be liquidated for the benefit of the creditors. The Cts are on parity with the most senior preferreds which are the other Cts. That liquidation priority is what puts them at a class 10B claim and subordinate to the more senior unsubordinated claims. There are NO accrued dividends.
There will be ZERO recovery for the traditional preferred, or the common share holders in the OBS. This is not my opinion, it is fact. All one needs to do is study the disclosure statement and POR, as well as the most recent balance sheets to confirm this. Samething for the CTs class 10b claims.
Many of you are also confusing the SIPA Lehman BK with the LEhman Holdings BK. Yes, Lehman holdings has a claim against the SIPA Lehman bk, but the recovery will just be another drop in the bucket relative to what is still owned classes 3 through 9.
I will not be able to respond to this post as I only emerged from my bunker long enough to read so much misinformation here that I felt that any newbies attracted by the top 10 most active boards list need to know there is something other than "Beatrice's" opinion on how this all works. I will now go back to my bunker to research stock and bond plays that will make money. I suggest you all do the same. Just crazy the amount of postings you guys are doing on these CTs that eventually will go to zero. What most (all) of you are posting is not how any of this works.
Guster is the only voice of reason here. Yet, I think he still grasp to hope that something good will come out of this. Toogood too except for his failed logic that this is a NOL play.
My follow up for Hestheman,
"AND I AM NOT FROM THE US OF A"
you agreed to 25perc of that, estate a......
++++++++++++++
This is the problem ever since.
Many of you guys believe that creditors agreed on the estimate of the 65B distributable as the point of satisfied in full. (HESTHEMAN STARTED THIS IN HIS OWN LOGIC)
Logically sound to Hestheman as he claimed but this is a pure speculation.
1. The POR did not mention that the estimated 65B distributable asset is the point of satisfied in full.
2. POR IS NOT WRITTEN TO BE INTERPRETED BY LOGIC.
3. POR IS A LEGAL DOCUMENT THAT MUST TELL YOU ITS PLAN DIRECTLY WITH ACCURATE WORDS AS POSSIBLE.
4. POR IS TELLING US DIRECTLY THAT THE CREDITORS MUST RECEIVE ITS "PRORATA SHARE OF ALL ASSET UNTILL SATISFIED IN FULL "
The problem is the ignorance to the terminology used but indeed is very accurate.
So the allowed claim to gen unsec. Is $12.483 bill plus the 1.5 jpm. Initial distribution of 4.6bil (per trustee) is roughly a third of the allowed needing paid to be satisfied? If yes, then I can see why we have a ong way to go imo, at least for any equity chance. Have classes, really more so WHICH classes in 1-9 have benn satisfied in full? Obviously not 7--gen unsecured, but what about others?
We should have a running tally or list of who has been deemed satisfied in full so far. Then we can check each one off as time goes. What's the amount of available cash now?
U see what I'm saying right?
Freakin A, right? Lol. Thanx for seing my logic
THANKS JOVI!
Now I get your point.
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
