A proposito dell'ultimissimo possibile accordo JPMorgan/LBHI, andando più in profondità scopriamo che:
LBHI AND JPMCB SETTLEMENT AGREEMENT DATED 2/1/2017 -DOCKET 54683
"I. PRELIMINARY STATEMENT
1. The Settlement finally resolves the last of LBHI’s disputes with JPMorgan, its
largest secured creditor, and enables creditor distributions of nearly $800 million, on the
following terms:
- Cash Payment. JPMCB will pay to LBHI for the benefit of LBHI and its subsidiaries
cash totaling $797.5 million (the “Settlement Payment”).
- Tassimo Action. LBHI will withdraw with prejudice its Objection to Proofs of Claim
No. 66462 Against Lehman Brothers Holdings Inc. and No. 4939 Against Lehman
Brothers Inc. of JPMorgan Chase Bank, N.A. Regarding Triparty Repo-Related
Losses (the “Tassimo Action”) [ECF No. 19604], objecting to portions of Claim No.
66462 (by JPMCB against LBHI) (the “Deficiency Claim”) relating to the purported
deficiency remaining after JPMCB’s application of proceeds from the disposition of
securities held by JPMorgan as collateral against intraday credit extended in
connection with JPMorgan’s role as triparty repo custodian for Lehman Brothers Inc.
(“LBI”).
- Securities Lending Objection. LBHI will withdraw with prejudice its Objection to
Portions of Proofs of Claim No. 66462 Against Lehman Brothers Holdings Inc. and
No. 4939 Against Lehman Brothers Inc. of JPMorgan Chase Bank, N.A. Regarding
Securities Lending (the “Securities Lending Objection”) [ECF No. 47719],
concerning JPMCB’s claims relating to its disposition of collateral held pursuant to
certain LBI securities lending transactions for which JPMCB served as custodian.
- 492nd Omnibus Objection. LBHI will withdraw with prejudice its 492nd Omnibus
Objection to Miscellaneous Claims by Various Subsidiaries of JPMorgan Chase &
Co. Against Various Debtors (Insufficient Documentation Claims (the “492nd
Omnibus Objection”) [ECF No. 47715], objecting to portions of Claims Nos. 66474
(by JPMML against LBHI), 66452 (by JPMSI against LBHI) 66455 (by JPMCB
against LBSF), 66462 (by JPMCB against LBHI), 66465 (by JPMCB against LBDP),
66466 (by JPMCB against LCPI), 66468 (by JPMCB against LBOD), 66469 (by
JPMCB against LBFP), and 66473 (by JPMCB against LBCS), concerningmiscellaneous claims for which LBHI has alleged JPMorgan has failed to supply
sufficient documentation.
- LBSF Action. LBSF will dismiss JPMCB and JPMSL with prejudice from the
adversary proceeding commenced by LBSF against various parties in the Bankruptcy
Court on September 14, 2010 [Case No. 10-03547 at ECF No. 1] (the “LBSF
Action”), to which JPMCB and JPMSL were added as parties in the second amended
complaint on July 23, 2012 [Case No. 10-03547 at ECF No. 303-1].7
- Claims Allowance and CDA. JPMorgan’s Claim No. 66462 against LBHI will be
reduced, allowed in an amount consistent with the Settlement Payment and the
settlement of the LBSF Action, and the 492nd Omnibus Objection, as set forth in an
instruction letter (the “Instruction Letter”) to be submitted to the claims agent retained
in the Chapter 11 Cases: Epiq Systems Inc. (the “Claims Agent”), and deemed fully
satisfied because it had been previously fully satisfied pursuant to the Collateral
Disposition Agreement dated March 16, 2010 [ECF No. 7619] (as amended and
supplemented from time to time, the “CDA”). Claim Nos. 66474, 66452, 66455,
66465, 66466, 66468, 66469, and 66473 will be assigned to certain of the Lehman
Parties on a final basis and reconciled in amounts not to exceed $200 million, as set
forth in the Instruction Letter. All true-up and other remaining obligations of the
parties under the CDA will be terminated and discharged.
- Unaffected Matters. Unaffected by the Settlement are remaining claims not the
subject of the objections enumerated above, including claims filed by or on behalf of
a JPMorgan Entity as agent, for a customer or for a fund that it manages, claims
relating to Canary Wharf and claims held from time to time by a JPMorgan entity’s
distressed claims trading desk, and any other filed claims that JPMorgan did not
assert were covered by LBHI’s August and September 2008 guaranties and security
agreements."
Quindi, non è che tutto sia stato risolto! E' vero, sono questioni marginali, ma la parte relativa a Canary Wharf potrebbe riservarci qualche sorpresa.
