LEHMAN BROTHERS QUARTO ATTO

[duetto]

JPMorgan Chase to pay nearly $800 million in final Lehman Brothers settlement

Pushes total settlement costs well above $2 billion

February 1, 2017

JPMorgan Chase disclosed Wednesday that it reached a final settlement agreement with Lehman Brothers, ending the failed investment bank’s lawsuit over claims that JPMorgan illegally siphoned billions of dollars from Lehman before its collapse.

JPMorgan Chase’s final settlement payout checks in at well above $2 billion.

According to a filing with the Securities and Exchange Commission, JPMorgan Chase will pay an additional $797.5 million to Lehman Brothers to settle all remaining “lawsuits, claims, objections and other disputes” brought by Lehman Brothers after its collapse.

The settlement ends Lehman Brothers claims against JPMorgan Chase.

Last year, JPMorgan Chase announced that it agreed to pay $1.42 billion to Lehman Brothers to settle a “significant portion” of Lehman’s claim against the bank.

Per this report about last year’s settlement from Reuters, Lehman Brothers originally wanted $8.6 billion from JPMorgan Chase.

JPMorgan Chase to pay nearly $800 million in final Lehman Brothers settlement | 2017-02-01 | HousingWire

 

[duetto]

La notizia è importante per due motivi.

In primo luogo, abbiamo la conferma che non tutto era stato definito col precedente pagamento da parte di JPMorgan a LBHI di circa 1.5 miliardi di dollari.

In secondo luogo, il pagamento di altri 800 milioni di dollari proposto da JPMorgan ( qualora venisse accettato e ratificato ) definirebbe omnia tutte le pendenze legali tra le due banche in essere dalla data del default.

In terzo luogo, creerebbe un cash di notevole importo che si andrebbe ad aggiungere a quello previsto per ottobre 2017, dato che difficilmente potrebbe incidere sulla prossima distribuzione a causa di strettissimi tempi rimanenti.

 

[duetto]

Per quale motivo JPMorgan propone questo pagamento aggiuntivo?

Ecco:

Per JPMorgan Chase’s SEC filing, this final settlement resolves the following issues:

• Lehman’s claims objection challenging JPMorgan’s disposition of securities collateral posted to JPMorgan in its roles as clearing bank for Lehman and as Lehman’s custodian for tri-party repurchase agreements

• Lehman’s remaining claims against JPMorgan in an adversary proceeding related to certain payments claimed to be due to Lehman Brothers Special Financing Inc.

• Lehman’s objections regarding JPMorgan’s securities lending claims and the sufficiency of documentation provided by JPMorgan for a number of other claims

 

[duetto]

Operating Report / December 2016 Post-Effective Operating Report Filed by Garrett A. Fail on behalf of Lehman Brothers Holdings Inc.. (Fail, Garrett)

http://document.epiq11.com/document/getdocumentbycode/?docId=3103826&projectCode=LBH

 

[duetto]

Quindi, se i numeri in nostro possesso non sono errati:

Beginning Free Cash and Investments 798 million al 01/12/2016
Ending Free Cash and Investments 914 million al 31/12/2016

Beginning Restricted Cash 4.497 million al 01/12/2016
Ending Restricted Cash 4.494 million al 31/12/2016

Beginning Total Cash and Investments 5.295 million al 01/12/2016
Ending Total Cash and Investments 5.408 million al 31/12/2016

Come sempre rigorosamente IMHO

 

[duetto]

Per oggi può bastare.

 

[duca77]

Quindi, se i numeri in nostro possesso non sono errati:

Beginning Free Cash and Investments 798 million al 01/12/2016
Ending Free Cash and Investments 914 million al 31/12/2016

Beginning Restricted Cash 4.497 million al 01/12/2016
Ending Restricted Cash 4.494 million al 31/12/2016

Beginning Total Cash and Investments 5.295 million al 01/12/2016
Ending Total Cash and Investments 5.408 million al 31/12/2016

Come sempre rigorosamente IMHO

prendiamo nota di quello che hai scritto!
grazie come sempre

 

[carlamed]

Beh, sembrano buone notizie
Attendiamo ormai la distribuzione di marzo aprile
Sempre grazie per il tuo lavoro
Marco

 

[duetto]

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK

In re: Chapter 11 Case No. Lehman Brothers Holdings Inc., et al., 08-13555
Jointly Administered Debtors.

QUARTERLY FINANCIAL REPORT AS OF OCTOBER 6, 2016
BALANCE SHEETS, ACCOMPANYING SCHEDULES, AND
POST-ELEVENTH DISTRIBUTION CASH FLOW ESTIMATES
08-13555-scc Doc 54684 Filed 02/01/17 Entered 02/01/17 16:32:05 M

Net Receivables in USD

Europe:

Lehman Brothers Finance S.A. CHF 9,582 (1,107) $ 9,785 $ (1,128) $ 8,656
Lehman Brothers Treasury Co B.V. USD 4,342 (1,434) 4,342 (1,434) 2,907
Lehman Brothers Treasury Co B.V. (1) Various - - 113 (32) 81
Lehman Brothers Bankhaus A.G. EUR 203 (180) 226 (217) 9
Lehman Brothers Bankhaus A.G. - Assigned (2) EUR 9,383 (9,008) 10,454 (10,036) 418
LB UK RE Holdings Limited GBP 1,188 (700) 1,498 (882) 616
Lehman Brothers (Luxembourg) S.A. EUR 759 (468) 846 (522) 324
LB Holdings Intermediate 2 Ltd (3) (4) - - - 826 - 826
Lehman Brothers International (Europe) GBP 359 359 454 (454) -
LB RE Financing No.3 Limited GBP 353 (19) 445 (24) 421
LB Commercial Mortgage Conduit Ltd GBP 240 (206) 303 (259) 43
Thayer Properties Limited GBP 172 (28) 216 (35) 182
LB (PTG) Ltd GBP 170 (60) 214 (76) 139
Lehman Brothers Holdings Plc GBP 160 (8) 202 (13) 189
LB (Luxembourg) Equity Finance S.A EUR 96 (48) 107 (53) 53
Longmeade Limited GBP 43 (17) 54 (21) 33

 

[duetto]

Asia

Sunrise Finance Co. Ltd JPY 233,672 (119,679) 2,244 (1,149) 1,095
Lehman Brothers Holdings Japan Inc. JPY 178,617 (82,289) 1,715 (790) 925
LB Asia Capital Company HKD 6,398 (1,312) 825 (169) 656
LB Asia Pacific (Singapore) PTE (4) USD 366 - 366 - 366
LB Asia Pacific (Singapore) PTE (4) SGD 931 (164) 678 (119) 559
LB Commercial Corp. Asia Limited HKD 32,615 (19,103) 4,204 (2,462) 1,742
LB Investments PTE Ltd (4) USD 456 (231) 456 (231) 225
LB Investments PTE Ltd (4) SGD 130 (66) 95 (48) 46
LB Securities Asia Limited HKD 2,126 (2,022) 274 (261) 13
Lehman Brothers Japan Inc. JPY 316,163 (271,542) 3,036 (2,607) 428
GKI Development Inc. KRW 103,363 (90,393) 93 (81) 12
Lehman Brothers Australia Ltd AUD 111 (63) 84 (48) 36
Sail Investor PTE Ltd USD 63 (60) 63 (60) 3
Other (6) 11,606 (11,038) 568
Total $ 55,823 $ (34,252) $ 21,571