Lehman Brothers Financial SA (CE) (LEHNQ) News

Thanks for posting the Update from LBH. The LBH here is referring to LBH PLC, not to be confused with LBHI, the Holding co of which US CTs are 'connected to
. BUT, since now for the First Time, LBH PLC is 'Officially' stating that the 'Subordinated Debt Securities' will make a 100% Recovery (they are referring to ECAPS here, per my interpretation) and because per the US CTs 'Prospectuses' from LBHI, we 'Are At Par or Senior in Priority to any other Subordinated Debt issued by LBHI affiliates', shouldn't this now mean US CTs have to be 'Made 100% Whole' by LBHI, prior to closing BK OR as part of the 'BK Close;'? Because LBH PLC has made its Subordinated Debt '100% whole' during 'the BK Close'...TIA & GLTU!

America got the government it deserves.

Real777Mellon, Could you provide me with your insights on the 'Property Trustee' Vs the 'Indemnity Trustee'? TIA & GLTU!

Thank you for posting this. I think I'm reading about standards and guidelines, fairplay, and good faith dealings.... Amazing. 

Without getting into any Political, let me assure you that the Market Crash today or in coming months has nothing to do with some 'Leak' might have Or NOT Occurred....Instead, it has everything to do with 'Free-loading' every 'constituent' of your 'voting population' with "Free stuff' and then 'loading the Debt' on Future generations of Americans And then 'foolishly' thinking that "Increasing the Debt-Limit' is just "going to make the Debt Problem Disappear"...The US Gub'Ment (Both Dems as well as Repub Administrations) may think they will "Keep on Issuing NEW DEBT" But the World has long gotten a Whiff of the Fact that the US Finances are a "Pack of Cards' , are VERY Suspicious of US Treasuries and China, Japan and Now Europe have started UNLOADING the US Treasuries they had already bought previously...So, WHO is Going to BUY the NEW DEBT? AFRICA?? In the Next few Months, the 10-Year Treasury Bond will just explode above 5% and that is the proverbial 'Canary in the Coal Mine'....Every FREE Benefit will have to be Cut and in the end they'll start cutting our Social Security too -Courtesy, the "Baby Boomer Generation' - the Most RECKLESS , Irresponsible, Weed-smoking Bums who only knew How to 'Free-load' and have been using up the whole "Social Security Pile, while having contributed only "Peanuts' towards that Pile...

https://www.jdsupra.com/legalnews/the-end-of-libor-hotel-california-6435307/

What an effed up day in America.  Any hope or faith I have in a free market capitalist society is gone.  I wait 16 years for this Lehman and WAMU Trainwreck from 2008 and now our markets are crashing because we don't know how to govern. Banking is getting hit hard by this lack of legitimacy emerging from this administration. You know it's not all about the money. You have to have faith in something so you'll invest in it.
Even if we were forgiving everybody and starting over we'd still be screwed because of the denial and ambition of these flippant new-guard careless young uninformed individuals...
All the anger and lies in the world are not going to make these people better at their job. 
These cabinet posts are filled with incapable individuals. Oh they're capable.... of messing things up real quickly and lying about it. 

The Weil team was led by the Co-Head of Weil’s Complex Commercial Litigation and Appeals and Strategic Counseling practices, Greg Silbert, who argued the appeal, and included👉️ partner Garrett Fail, partner-elect Jennifer Crozier, and associates Camilla Brandfield-Harvey and Amar Adam.

Related Topics

👉️December 16, 2024

After five years of litigation and a trip to the highest court in the land, Weil won a decisive victory in the U.S. Court of Appeals for the Second Circuit for the Sears Liquidating Trust. The Court of Appeals held that the Trust retains ownership of a 100-year lease to a 160,000 square-foot property in the iconic Mall of America, which the Mall had tried to claw back.

https://www.weil.com/articles/weil-wins-complete-second-circuit-victory-for-sears-liquidating-trust

Bonus:

FTX Announces Effective Date and Record Date of January 3, 2025 for its Chapter 11 Plan of Reorganization
FTX (PRNewsfoto/FTX)
News provided by
FTX
👉️Dec 16, 2024, 12:40 ET

Initial Distribution to Occur within 60 Days of Effective Date

https://www.prnewswire.com/news-releases/ftx-announces-effective-date-and-record-date-of-january-3-2025-for-its-chapter-11-plan-of-reorganization-302332816.html

FTX Announces Effective Date and Record Date of January 3, 2025 for its Chapter 11 Plan of Reorganization
FTX (PRNewsfoto/FTX)
News provided by
FTX
Dec 16, 2024, 12:40 ET

Initial Distribution to Occur within 60 Days of Effective Date

Enters into Agreements with BitGo and Kraken to Distribute Payments to Customers and Creditors

WILMINGTON, Del., Dec. 16, 2024 /PRNewswire/ -- 👉️FTX Trading Ltd. (d.b.a. FTX.com) ("FTX") and its affiliated debtors (the "FTX Debtors") today announced its Court-approved Chapter 11 Plan of Reorganization (the "Plan") will become effective on January 3, 2025, which has also been set as the initial distribution record date for holders of allowed claims in the Plan's Convenience Classes (the "Initial Distribution"). The Initial Distribution is expected to occur within 60 days of the Effective Date, with participation subject to know-your-customer and other distribution requirements. The Initial Distribution is limited to the Plan's Convenience Classes. Separate record and payment dates for other classes of claims will be announced in due course.

The FTX Debtors are represented by Sullivan & Cromwell LLP as legal counsel and are assisted by 👉️ Alvarez & Marsal North America, LLC as financial advisor, Perella Weinberg Partners LP as investment banker, Quinn Emanuel Urquhart & Sullivan, LLP as special counsel and Landis Rath & Cobb LLP as Delaware counsel.



https://www.prnewswire.com/news-releases/ftx-announces-effective-date-and-record-date-of-january-3-2025-for-its-chapter-11-plan-of-reorganization-302332816.html

She has also acted as a court-appointed mediator in numerous complex chapter 11 cases, including Windstream, Frontier Communications, OneWeb, Avianca S.A., Purdue Pharma, Madison Square Boys & Girls Club, and 👉️Sears. She is currently serving as the lead mediator in the PROMESA/Title III case of The Puerto Rico Electric Power Authority (PREPA)/The Commonwealth of Puerto Rico and as the court-appointed mediator in the 👉️ FTX Trading Ltd., Rite Aid Corporation and Endo International chapter 11 cases.



https://www.willkie.com/professionals/c/chapman-shelley-c

Mellon posts pretty good stuff. He's bright.

Hi Mellon. I just wanted to say to you sorry hearing about your dog. I just went through this about 3 months ago with my Murphy. It beat me up pretty good.

Anyways, sorry. Be good as you can. Hope it gets better.

Lehman Brothers Holdings PLC Update - February 2025
The administrators of LBH would like to provide creditors with an updated, illustrative financial outcomes for LBH.

In summary, based on certain predictions and assumptions and subject to the usual and important caveats which creditors should bear in mind, we continue to calculate that in all illustrative scenarios, LBH would be able to pay their remaining statutory interest obligations to unsubordinated creditors in full, and there would be a return for LBH’s subordinated creditors. 👉️Any variance in the final outcome for LBH’s subordinated creditors would continue to be largely driven by the outcome of the remaining LBIE asset recoveries (largely in respect of its 👉️ US tax refund claim filed with the Internal Revenue Services as well as claims into two overseas insolvencies).

Capitalised terms in this announcement take their meaning from previous announcements which are available on LBH’s website.

https://www.pwc.co.uk/services/business-restructuring/administrations/lehman/lehman-brothers-holdings/other-notices.html

🚁🚁🚁 I am trying not to attract any friendly fire:

My late father shared a story with me when he was in Vietnam in 1968. The Commissioned and Non-commissioned Officers lived off base in the villages' in Vietnam. The purpose was to aid the local population. A friend on his way back to the United States, told my father, when the fight breaks out in the villages', try not to shoot a lots at night, because the American helicopter gun ships' would shoot at anything or anyone that was attracting gun fire. Friendly fire deaths' are not good.

This Bankruptcy is turning into a clown's show. 😂 Pay us and turn out the lights and run your new business.

My Posts on FNMA, COOP/WMI.

The Lehman’s, WaMU, F&F names are interchangeable.
We are all in this together.

If the Derivative Market wants to be a legitimate market then the contract writer’s must pay for the ABS losses as agreed to.


*********
If the Government is Privatizing F&F.

Then why would F&F stock/warrants be used for SWF?

Makes no sense.

IMO TBTF is the one placing stock/warrants into the SWF.

The Main constituents of TBTF regarding outstanding derivatives contracts are;

JPM at 57%
BofA at 30%


The overall market was ~$83 Trillion in notables in 2008 of Derivative Contracts.
$13 Trillion in residential mortgages of most were in ABS/RMBS and insured.
Now add in the Commercial loans. Also mostly insured by Derivative Contracts.

In general; TBTF owes
$1.5 Trillion to cover the losses using the Globic Litigation’s 11.9% loss ratio.
$13T*11.9%= $1.5T.

TBTF FAILED.

Hint;
SWF for TBTF.
Not F&F. F&F is a recipient from TBTF like the other 20 banks in FDIC LIBOR Litigation.
***************

Very Few Understand the Derivative Market.

In 2008, the Derivative Market Writers couldn’t cover all the paper they had written.

F&F, WMI/WMB, Lehman’s are the recipients of the Derivative Contracts insurance policies.

Yes TBTF FAILED.
************************

The Property Trustee is Required to Insure.

In WMI/WMB’s case, DB (Globic) as the Trustee is required by the Prospectus to insure the ABS (RMBS , CMBS, Other) or DB is libel for the losses.

AIG was a broker in Derivatives contracts that just put the parties together.

Example;
WaMu went to AIG with their securitized notes and AIG found a writer for the contract as the insurer.

TBTF still has to finish and close the contracts.
But TBTF can’t afford their obligations and needs government help from the SWF.
***********************



Ron

"All LBHCT III-VI issued Trust PFD Shares will be receiving full back paid suspended quarterly cash distributions since suspension on 09/17/2008 to the day CH 11 is closed for LBHI. Mobility will allow LBHI to make necessary procedural moves to have the property trustee at Chase Manhattan Bank, N.A. in New York City send the back-pile of cash + reveal value underlying our shares for whatever properties/sub debentures LBHI writes (from securitizing them) and has been maintained by Chase's property trustee, their own legal team if needed since 08 to collect payments or participate in litigation and then also see where we're headed going fwd as say - Phuket Thailand luxury hotels bought from 2000's to prior to bankruptcy or CRE like the last purchase for a 2.8B EUR luxury CRE skyscraper in Paris still would have whatever part Fuld had held and securitized in the Trustee account at chase."

Thanks Real Mellon777 for responding to my post and your Very VALUED INSIGHTS!
Till Now (and even now, even after reading your above message) I do not know the clear difference of the 'Property Trustee' (which seems to be JPMC, as far as the LBHI created 'Trusts' for the CTs are concerned) VS. the 'Indemnity Trustee' (which seems to be BNY Mellon, for the Lehman CT Securities, and which filed the 'Claims'; on behalf of the CTs, in the BK proceedings before the Court)...

Going by your Reply, I am now surmising JPMC is 'administering/taking care of processing' of ALL the payments that are coming from the various 'holders' of the CRE Debt securities (underlying our LBHI CT Securities) into the various CT Trusts, and even though the "Interest Payments for CTs' 'got suspended' by LBHI, due to the 'Automatic Stay' that came into force on the 'Filing of the BK by LBHI', that all those "payments' are in fact being Collected by JPMC and are 'being Held for our Accounts' of the various Trusts connected to each of the 4 LBHI US CTs. Am I Correct?

And Going by your response, I am now 'deciphering' (because even though I learnt a lot in my MBA Finance, this subject of the various 'types' of Trusts, was never really delved into) that An 'Indemnity Trustee' which BNY Mellon is, in our case, has an Administrative Function that purely has to do with 'taking part/Filing Claims' in any 'Legal Proceedings' arising out of a Company 'Filing for BK' or 'Company Re-organization' as such as 'a Custodian' of those Securities....This, I am surmising because, even though you haven't specifically touched in your response, I had worked for more than 5 years on Wall St at BNY Mellon and though on the Technology side, I was building systems that were doing Middle office/Back Office for Companies' M&A, "Re-org/Restructurings' etc.

I would Appreciate VERY MUCH if You can Describe/provide your Valuable Insight of the Role that a 'Property Trustee' (JPMC in our Case) VS. An 'Indemnity Trustee' (BNY Mellon, in our case) are playing in our LBHI Bk Case. Also, just curious, as a side-bar, do you have any family connection with the Mellon Family? TIA & GLTU & GLTA!

All LBHCT III-VI issued Trust PFD Shares will be receiving full back paid suspended quarterly cash distributions since suspension on 09/17/2008 to the day CH 11 is closed for LBHI. Mobility will allow LBHI to make necessary procedural moves to have the property trustee at Chase Manhattan Bank, N.A. in New York City send the back-pile of cash + reveal value underlying our shares for whatever properties/sub debentures LBHI writes (from securitizing them) and has been maintained by Chase's property trustee, their own legal team if needed since 08 to collect payments or participate in litigation and then also see where we're headed going fwd as say - Phuket Thailand luxury hotels bought from 2000's to prior to bankruptcy or CRE like the last purchase for a 2.8B EUR luxury CRE skyscraper in Paris still would have whatever part Fuld had held and securitized in the Trustee account at chase.

Very discreet. Because the DST usually is used for ownership by way of securitization with other holders to luxury properties - mostly CRE they are likely to be still in the account and the exposure we have is because Fuld as rumored never "dumped all his CRE holdings" he was buying like a madman esp 2005-2008 when everyone was criticizing him.

Brilliant way to hide in the best structure and unseizable from any upcoming gov't effort to bankrupt then drain your amazing private sector non-govt funded/subsidized global giant.

Just my short long explanation. ;)

Ron I just made new posts. Sorry I've been dealing with my Dog's cancer pretty hard but also getting him all treated up. I decided since this weekend began - regardless if we get the LBIE v AGFP ruling CORRECTLY and justly fixed/paid out according to the terminology of how to value the position from the moment the two parties signed and entered into the 1992 Master Agreement ver of the ISDA and began the AGFP dealing and LBIE buying of CDS in 2005.

I have HAD IT with lawfare, politicized attacks not just by judges on President Trump unraveling all these abuses that came to light in Q3 2008 but have been far worse since and it HURTS the American economy, the people, and they're messing with the recovery back to the global trade and capital markets WE DESERVE TO EXPERIENCE that they stole and suppressed until Trump got back in office to resume - this time with a super hero cabinet, private sector advisors from John Paulson making phone calls to the WH and our Commerce Sec Lutnick admitted the Trump GOLD CARD allowing $5M payment for perm residency was Paulson's idea - which Lutnick says the details roll out in a week but he had sold 1,000 already for $5 BILLION per the 3/20 All-In Podcast.

So we have a big chance here to win all the way. We're going to recover and then continue with whatever value (immense) that Fuld's company put into these Chase Manhattan property trusteee managed accounts full of sub debentures that are for properties - luxurious - revenue driving ROI and cash cows where the money and ownership sits waiting for CH 11 to end and fully raid proof from the creditors who don't own these special hybrid TPS with issuance using the DST set up for issuance to keep all that value SAFE for the entirety of the 2052-2054 maturity dates on each of the 4 PFDs prospectus writeups.

But even without the LBIE v AGFP ruling - I am livid. I see this as another SAME DISTRICT AS NY V TRUMP SAME HACK JUDGES THAT WILL THROW A GRENADE WHENEVER POSSIBLE TO GIVE THE FINGER TO CAPITALISM IN THE USA AND IN THE PRIVATE SECTOR'S CONTROL - reversing back the drunken power these people in the courts have held since the GFC 2008 and are now realizing they have less power thanks to President Trump and the movement that has uncovered so much. Rossman and Quinn Emmanuel went all the way, Deutsche Bank AG sent their amicus brief filing so their expert could fight this in support of LBIE and the ISDA terms - and we had an NYU professor who since the 70's had been into the present called dozens of times to provide expertise on these types of contractual agreements on private parties and also including the ISDA Master Agreements. I read the briefs.

These judges approved them to be heard. Then they all without any explanation denied LBIE's appeal to have their own say and a last look at this expecting surely the top court of this system that is the epicenter of the world of finance and capital markets/derivatives trades would make the common sense decision.

Then they said quietly - denied as if WTF are you all gonna do about it?

I say we start with ISDA. I will do it alone - it's got nothing to do with recovery of funds. Personally I believe these securities after the CH 11 exits anyhow will bring a windfall that will allow the bulk of you to live happy ever after. I'm not crusading.

But I wanna escalate until I get a meeting with the ISDA. I will not be gaslighted or told this is not important. This is an attack on our country and its capitalist free market core values that began with the Constitution and I'll be damned if the USA is going to be a place that allows - without explanation! A ticking time bomb to sit embedded in the global derivatives markets because these people either hate President Trump for ending their power/grift/insider club wealth and prosperous times from 2009-Nov 5, 2024/Jan 20, 2025 that came from being okay with stealing the opportunity, wealth, and American dream from normal everyday - just as important as any other American, hard working people's. I won't stop this. This CANNOT be allowed.

Also since the unprecedented is now precedented thanks to political/ideological hacks in the highest NY State Court of Appeals and we have "precedent" for parties selling the CDS signed with the buyer before the relationship kicks off for years and years to the ISDA Master Agreement - I have been beginning to bug the ISDA about it. Since we apparently are SOL in courts - I'm gonna get ISDA involved if I have to bug them semi-weekly because the truth is this cannot exist in a capitalist, free market, and trusted system. It cannot be found out either because when the people realize the precedent made it from 2011-2025 and the highest court in the State of New York allowing anyone to collect years of payment premiums only to walk out with a non-ISDA contractual written way to value a position but however the heck a bucket shop like Assured Guaranty (AGFP) felt like doing so.

Even if our collected $ is gone - we still need to make sure this is answered to imo. So I'll lead that charge.

Link: *beginning comments on this to ISDA had to be on their LinkedIn page since they leave no email or phone numbers

Hey all - will be doing the run down of all your valued sharing here later on. Found 12 March 2025 rando report on the status of where Lehman Brothers 2008 employees are across industries today. Interesting subject. Was a positive spin too imo - complimented the workers as well as their hard and expert level work when Lehman was rivaling Goldman Sachs in the 2000s: https://bankingtimes.co.uk/lehman-brothers-employees-fate/

benefit of doubt
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the benefit of the doubt
phrase of benefit
a concession that a person or statement must be regarded as correct or justified, if the contrary has not been proven.
"I'll give you the benefit of the doubt as to whether it was deliberate or not"


optics
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op·tics
noun
1.
the scientific study of sight and the behavior of light, or the properties of transmission and deflection of other forms of radiation.
2.
North American
(typically in a political context) the way in which an event or course of action is perceived by the public.
"what we really need in this circumstance is to make smart decisions in the best interest of student safety—not simply make changes that win political points for optics"

appearance
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noun
1.
the way that someone or something looks.
"I like the appearance of stripped antique pine"
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look(s)
air
aspect
mien
outward form
2.
an act of performing or participating in a public event.
"he is well-known for his television appearances"

quid pro quo
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noun
a favor or advantage granted or expected in return for something.
"the pardon was a quid pro quo for their help in releasing hostages"
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exchange
trade
trade-off
swap
switch
barter
substitute

Interesting, the December 2024 Date,,, ,Are you hinting somehow we may see LBHI gets it BK Closed and the LBHI 'Plan Trust' would see 'some recoveries' similarly come December 2025? Hope they resolve the CTs on the way...GLTU & GLTA!

December 16, 2024. After five years of litigation and a trip to the highest court in the land, Weil won a decisive victory in the U.S. Court of Appeals for the Second Circuit for the Sears Liquidating Trust. The Court of Appeals held that the Trust retains ownership of a 100-year lease to a 160,000 square-foot property in the iconic Mall of America, which the Mall had tried to claw back.

https://www.weil.com/articles/weil-wins-complete-second-circuit-victory-for-sears-liquidating-trust

GLUE:


She has also acted as a court-appointed mediator in numerous complex chapter 11 cases, including Windstream, Frontier Communications, OneWeb, Avianca S.A., Purdue Pharma, Madison Square Boys & Girls Club, and 👉️Sears. She is currently serving as the lead mediator in the PROMESA/Title III case of The Puerto Rico Electric Power Authority (PREPA)/The Commonwealth of Puerto Rico and as the court-appointed mediator in the 👉️ FTX Trading Ltd., Rite Aid Corporation and Endo International chapter 11 cases.

https://www.willkie.com/professionals/c/chapman-shelley-c

glue
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noun
an adhesive substance used for sticking objects or materials together.
"waterproof glue"
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adhesive
fixative
gum
paste
cement
epoxy
epoxy resin
sealant
size
glair
mucilage
stickum
verb
fasten or join with or as if with glue.
"the wood is cut up into small pieces which are then glued together"
Similar:
stick
gum
paste
affix
fix
cement
epoxy
agglutinate
conglutinate

https://wilwinn.com/resources/recent-trends-in-the-performance-of-pooled-trust-preferred-collateralized-debt-obligations/

No one within the halls of government had known about the battle until Greer's arrival, but news of this victory over the British loyalists quickly spread throughout the former colonies, reviving hope that the United States of America would emerge from this brutal war as a victorious nation.

https://posterityproject.blogspot.com/2013/05/the-tall-tale-of-kings-mountain.html?m=1

🚢🚢🚢 CK Hutchison’s ownership of the canal also faces a constitutional challenge in Panama, which could be a factor in its intent to sell.

Panamanian Attorney General Kenia Isolda Porcell Díaz has filed a submission in support of two lawsuits against renewal of a 25-year contract for Hutchison to own the ports, arguing the contract is "unconstitutional" because it "improperly agree[s] to transfer exclusive rights of the Panamanian State."

https://www.foxnews.com/politics/china-hong-kong-threaten-thwart-sale-panama-canal-ports-americas-blackrock.amp

I'm a Yankee. I'm a proud educated Yankee. I understand history. I understand pain. I understand confusion. And I actually do also understand the uneducated, the misinformed, and the ignorant. On the other hand they do not understand me. 
That's the nature of the game. 
Deliberation leads to liberation. 
That means decisions made by groups work best for everyone. 
Rage on, and the North will win again. lol

No pain then no gain, you sound like you are in the Revolutionary War Battle of Kings Mountain, in the Carolina's. Those soldiers' were already equipped with thick skin, after fighting in the Indian Wars. You are just now getting your mind right, after all these years. The tide of this Bankruptcy is about to change with our new King. You can deliver our message to the new Continental Congress in Pennsylvania. The young African boy holding the horses for General George Washington, on the banks of the Delaware River, did not freeze to death for us to run away now.

I'm feeling the pain. You're feeling the pain. And we are all experiencing feeling this painful confusion. 
I am only very modestly invested in the stock market is all I've invested a great deal of time monitoring a Lehman Brothers in Washington mutuals lack of emergence from bankruptcy for 16 years. 
But as they say adding insult to injury here we are. Expectations of any positive outcome short-term or long-term frankly that I could have imagined seem completely out of reach at this point. I see this as an opportunity for Americans to go back to first grade, community developments civics lessons. We don't have to talk about democracy or voting, simply address how do we get along in our little villages. The massive ripoff that Lehman Brothers reorganization in Washington Mutual 3 organization has become obviously obviously obviously obviously a massive rip-off is not something we can now wait out. 

Where does it say 'deny'? Unless it is saying that somewhere else...Is it stated somewhere else? Thanks for sharing your DD.

Look again: 'the Plan
Administrator hereby requests that the Court approve or deny the Plan Trust Amendment.'


20. Neither the Plan Trust Agreement nor the Plan requires the Court’s
approval of amendments to the Plan Trust Agreement. Nevertheless, out of an abundance of
caution, and in accordance with sections 7.1 and 8.1 of the Plan Trust Agreement, sections 7.4
and 14.1 of the Plan, and sections 105(a) and 1142(b) of the Bankruptcy Code, the Plan
Administrator hereby requests that the Court approve the Plan Trust Amendment.

"21. Pursuant to the Plan and the Confirmation Order, this Court retained
exclusive jurisdiction over all matters arising under or related to these chapter 11 cases,
including to: “issue such orders in aid of execution of the Plan to the extent authorized by section
1142 of the Bankruptcy Code,” “enter and implement other orders, and take such other actions as
may be necessary or appropriate to enforce . . . the Plan, the Confirmation Order or any other
order of the Bankruptcy Court,” and “hear all matters relating to the Plan Trust.” Confirmation"

I hope there will be news about 'Closing of the Chapter 11 BK Case of LBHI" after the 30th Distribution is done by 1st week of April 2025.
I hope they won't "Pull an y nonsense'", such as "converting the Chapter 11 to Chapter 7"...Hell will break loose if they try any such nonsense...
TIA , GLTU & GLTA!

For us in the back of the room, what does it mean for us?

We are not dancing with the Stars' yet. 💃👯🤺

dance
verb
1.
move rhythmically to music, typically following a set sequence of steps.
"their cheeks were pressed together as they danced"
Similar:
trip
sway
spin
whirl
twirl
pirouette
gyrate
bop
disco
rock
shake a leg
hoof it
cut a rug
trip the light fantastic
get down
step it
foot it
tread a measure
2.
(of a person) move in a quick and lively way.
"Sheila danced in gaily"
Similar:
caper
cavort
frisk
frolic
skip
prance
romp
gambol
jig
bound
leap
jump
spring
bob
hop
trip
bounce
rollick
noun
a series of movements that match the speed and rhythm of a piece of music.
"everyone was taking part in the dance"

For us in the back of the room, what does it mean for us?

🐎🐎🐎 Basis added: 8
WEIL:\97519064\16\58399.0011
Relief Requested
20. Neither the Plan Trust Agreement nor the Plan requires the Court’s
approval of amendments to the Plan Trust Agreement. Nevertheless, out of an abundance of
caution, and in accordance with sections 7.1 and 8.1 of the Plan Trust Agreement, sections 7.4
and 14.1 of the Plan, and sections 105(a) and 1142(b) of the Bankruptcy Code, the Plan
Administrator hereby requests that the Court approve the Plan Trust Amendment.
Basis for Relief
21. Pursuant to the Plan and the Confirmation Order, this Court retained
exclusive jurisdiction over all matters arising under or related to these chapter 11 cases,
including to: “issue such orders in aid of execution of the Plan to the extent authorized by section
1142 of the Bankruptcy Code,” “enter and implement other orders, and take such other actions as
may be necessary or appropriate to enforce . . . the Plan, the Confirmation Order or any other
order of the Bankruptcy Court,” and “hear all matters relating to the Plan Trust.” Confirmation
Order at ¶ 77; Plan at §§ 14.1(e), (i), (n).
22. As set forth above, section 8.1 of the Plan Trust Agreement explicitly
contemplates that any provision of the Plan Trust Agreement may be amended or waived upon
the affirmative vote of two-thirds of the Plan Trustees and notice to the Beneficiaries and subject
to certain enumerated conditions. The Plan Trust Amendment proposed herein is consistent with
the conditions and procedures set forth in the Plan Trust Agreement. The Plan Trust Amendment
is consistent with section 7.4 of the Plan, which provides that the Plan Trust shall continue until
the Closing Date (as defined in the Plan). Finally, the Plan Trust Amendment is consistent with
the purpose and intention of the Plan Trust, as it will allow the continuation of the mechanisms
that have been essential to the successful implementation of the Plan to date. The Plan Trust
08-13555-scc Doc 60748 Filed 07/24/20 Entered 07/24/20 21:12:57 Main Document
Pg 11 of 60

Another BS....

20. Neither the Plan Trust Agreement nor the Plan requires the Court’s
approval of amendments to the Plan Trust Agreement. Nevertheless, out of an abundance of
caution, and in accordance with sections 7.1 and 8.1 of the Plan Trust Agreement, sections 7.4
and 14.1 of the Plan, and sections 105(a) and 1142(b) of the Bankruptcy Code, the Plan
Administrator hereby requests that the Court approve the Plan Trust Amendment.
Basis for Relief




8
WEIL:\97519064\16\58399.0011
Relief Requested
20. Neither the Plan Trust Agreement nor the Plan requires the Court’s
approval of amendments to the Plan Trust Agreement. Nevertheless, out of an abundance of
caution, and in accordance with sections 7.1 and 8.1 of the Plan Trust Agreement, sections 7.4
and 14.1 of the Plan, and sections 105(a) and 1142(b) of the Bankruptcy Code, the Plan
Administrator hereby requests that the Court approve the Plan Trust Amendment.
Basis for Relief
21. Pursuant to the Plan and the Confirmation Order, this Court retained
exclusive jurisdiction over all matters arising under or related to these chapter 11 cases,
including to: “issue such orders in aid of execution of the Plan to the extent authorized by section
1142 of the Bankruptcy Code,” “enter and implement other orders, and take such other actions as
may be necessary or appropriate to enforce . . . the Plan, the Confirmation Order or any other
order of the Bankruptcy Court,” and “hear all matters relating to the Plan Trust.” Confirmation
Order at ¶ 77; Plan at §§ 14.1(e), (i), (n).
22. As set forth above, section 8.1 of the Plan Trust Agreement explicitly
contemplates that any provision of the Plan Trust Agreement may be amended or waived upon
the affirmative vote of two-thirds of the Plan Trustees and notice to the Beneficiaries and subject
to certain enumerated conditions. The Plan Trust Amendment proposed herein is consistent with
the conditions and procedures set forth in the Plan Trust Agreement. The Plan Trust Amendment
is consistent with section 7.4 of the Plan, which provides that the Plan Trust shall continue until
the Closing Date (as defined in the Plan). Finally, the Plan Trust Amendment is consistent with
the purpose and intention of the Plan Trust, as it will allow the continuation of the mechanisms
that have been essential to the successful implementation of the Plan to date. The Plan Trust
08-13555-scc Doc 60748 Filed 07/24/20 Entered 07/24/20 21:12:57 Main Document
Pg 11 of 60

I continue to appreciate your leadership and determination to provide non-emotional facts that help out in the reasoning process that had which is wtf What am I hoping for now? I shall not be sarcastic nor cynical but I am. Lol

Zoom in: BlackRock's $22.8 billion agreement with CK Hutchinson, announced on March 4, is broken up into two parts.

The first covers two ports, one on either side of the Panama canal, and only was signed in principle. There's an April 2 deadline for definitive paperwork.
The second covers another 43 ports in 23 countries, and would seem to be able to proceed even if the Panama piece does not.

https://www.axios.com/2025/03/14/blackrock-panama-canal-trump

Yah.. it's 50/50 game of chance , and ttime/ Travel(Burning Time) .. FNMA & FMCC UP-... LEHNQ Down ... Fifty /Fifty
I'm one for Won or is it Won for two. HAHEHA



And don't forget to Laugh.. or you'll go insane
Welcome to your life!!
Be well

Are you assuming that Lehman is no longer Viable??

I have an Angel... True I admit it ... You caought me.
Yes I want all of us to win for a change.
HAHAH
And Ditto to the Choice Type.
Hope it pans out.
Is it tuesday ... This BK and wait is Bruttal
I'm due for a Taco. Maybe two
or a dozen. HEHEH

https://www.youtube.com/shorts/pLTKPZjr4_o





HAHA

Please Note That The Signature Page is Blank.

PDF 8/8.

Background proof of the Derivative Market of the ISDA.



Ron

Real777mellon Care to Comment?

https://www.isda.org/a/9uPEE/Washington-Mutual-Inc-USA.pdf



Ron

The Numbers Prove You Will Be Very Happy.

Lehman’s, WMI, F&F securitized notes are secured by Derivative Contracts that still need to pay up.

According to the FDIC, “WMI/WMB securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F.”
Treasury number for RMBS in 2008 was $13 Trillion at a loss ratio of 11.9% as litigated in the California DB Case.

JPM owned 57% of the Derivative Market.
BoA just under 30%.
AIG was just the broker providing the contracts between the parties but was not the writer of the contracts.

By example(JPM):
In Billions
$13,000*.57*.119(11.9%) = $881.8 Billion to Lehman’s, WMI, F&F.

You can do this same math for BoA at ~29%.

Too Big To Fail FAILED.

Using WMI/WMB numbers of 1.5 Trillion in RMBS.

JPM exposure;
$1,500*.57*.119 = $101.7 Billion to cover for WMB alone.

Now do the same for BoA.

There is a reason why LIBOR is in litigation.

The numbers/accounting tells us the story.



Ron

True Grit, you just explained how the Wild Wild West was won and how California was made into a State. It is in your blood my friend. Keep on kicking ass. Money is no longer the top priority here. Just show them that you came here to WIN. The Westward Expansion...a new life...plenty of land and wildlife...new towns and cities...new dreams...

My Opinion Only, if Lehman Brothers' Bankruptcy is extended for more than 24 hours past December 6, 2025; this Bankruptcy was a Chapter 7 on December 6, 2011 and a big and well organized 'LIE'.

The Plan Trust's Language does not require an approval from a Judge in the United States for an extension. We call it window dressing or Christmas lights or a costume. We must be honest about all these years on this board.

However, they are fair within their groups. Are they fair outside their groups? Keep your Faith...

I invested 15 years ago in both Lehman and Washington Mutual. 
The life lesson for me is way more important than the money that I may have gotten and may still get frankly but who knows.... The level of personal delusion and stubborn idiocy among the men and women that invested in these two companies, including myself, is very important recognize it admit so that I don't continue doing it for the rest of my life. 

Good Riddance of the 4-B Claim from LBHI...Hope we hear more good news after May1st that LBHI BK is getting 'Closed'...