LEHMAN BROTHERS QUARTO ATTO

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Scusa Duetto, non ho capito.
Cosa accadrà alle LBT???

Nulla di particolarmente inportante: trattasi di un passaggio, diciamo obbligato, con cui formalmente si autorizza il passaggio di denaro, come da procedura fallimentare, da LBHI a LBT affinchè quest'ultima possa provvedere alla sua distribuzione di Novembre 2018, grazie alla garanzia ben nota!

 

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Judge Denies Motion to Transfer in Lehman Indemnity Suit

This week around 100 mortgage lenders who had filed a motion to transfer the case with Lehman Brothers Holdings Inc. (LBHI) to a district court, were denied their application by Judge Shelley C. Chapman, who ruled that LBHI could continue to pursue its indemnity claims against these companies in the New York Bankruptcy court.

Dismissing the motion filed by the mortgage sellers to transfer their case to a district court, Chapman ruled that the interest of justice, “which favors centralizing litigation in one forum to (i) avoid duplicative litigation; (ii) save time and expense; and (iii) efficiently administer adversary proceedings based on similar claims weighs heavily here in favor of retaining venue of all of the Adversary Proceedings in this Court.”

“It bears emphasis that multiple federal courts across the country, when confronted with litigation related to the Indemnification Claims, have agreed that this Court is the most appropriate forum to hear these Adversary Proceedings, given its extensive experience with Lehman matters and with the Indemnification Claims in particular,” Chapman said.

The claim filed by LBHI relates to its allegations that these mortgage sellers sold or submitted defective mortgage loans into LBHI’s loan sale and securitization channels. LBHI claims that it has the right to a third-party indemnification claim against them for its liability to Fannie Mae and Freddie Mac. The company had settled with the GSEs in 2014

“Specifically, the Complaints allege that it was Defendants’ breaches of the representations, warranties, and/or covenants under the Agreements that caused LBHI to have to compensate the GSEs pursuant to agreements between LBHI and the GSEs that contained representations, warranties, and/or covenants co-extensive with those contained in the Agreements,” Chapman wrote in her 115-page opinion on the matter.

Giving a background of the case Chapman said that pursuant to LBHI’s agreement to settle with Fannie Mae and Freddie Mac in 2014, the Plan Administrator for LBHI’s bankruptcy case had identified over 11,000 loans and over 3,000 potential counterparties against which LBHI “allegedly held third-party contractual claims for indemnification and/or reimbursement by virtue of the GSE settlements.”

To manage this volume of claims, the court had authorized the Plan Administrator to implement a pre-litigation mediation protocol with the sellers from which it sought indemnification.

“To further facilitate its pursuit of recoveries from those Sellers with whom mediation was unsuccessful, the Plan Administrator initiated adversary proceedings in this Court, including those at issue here, against more than one hundred Sellers (including the Defendants) in tandem with six previously-filed adversary actions,” Chapman wrote.

Read more about Chapman’s opinion on the LBHI RMBS Suit:

Bankruptcy Judge Backs Lehman Brothers in RMBS Suit


Judge Denies Motion to Transfer in Lehman Indemnity Suit

Il giudice Chapman non solo accentra ma rilancia.

Non ho idea di come possa andare a finire questa faccenda ma se dovesse andare bene presumo che ci saranno altre distribuzioni: diciamo fino al 2020.

 

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Lehman Brothers poured $1.1B into Las Vegas before crash

Lehman spokeswoman Kimberly Macleod this month could not confirm how much money the firm agreed to lend in Las Vegas in the years leading up to the company’s collapse, and how much it lost on those deals. But, records show, Lehman helped inflate the bubble.

Lehman Brothers poured $1.1B into Las Vegas before crash

 

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Controllate i vostri c/c: sono in arrivo gli accrediti di questa distribuzione!

 

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Giovanni Franchi diventa Presidente Regionale Emilia Romagna di Konsumer. “Particolare attenzione alla difesa del diritto alla salute dei cittadini.”

Giovanni Franchi diventa Presidente Regionale Emilia Romagna di Konsumer. “Particolare attenzione alla difesa del diritto alla salute dei cittadini.”

Una nostra vecchia conoscenza.

 

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Honorable Shelley C. Chapman

Thursday, October 11, 2018

Doc #9 Motion for Relief from Stay regarding 108 35 157TH ST, JAMAICA, NY 11433 filed by Robyn E Goldstein on behalf of CITIMORTGAGE, INC



11:00 AM
08-13555-scc Lehman Brothers Holdings Inc. Ch. 11
Doc #58368 Application for FRBP 2004 Examination filed by David Y. Wolnerman on behalf of Fondo de Proteccion Social de los Depositos Bancarios
Adjourned Reset for 12/19/2018 at 10:00 am

 

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Fight over Lehman Brothers’ mortgage claims finally over

March 8, 2018

After 10 years, the fight over Lehman Brothers’ mortgage claims is over.

In a final dispute over the defunct bank’s residential mortgage-backed securities, a Manhattan bankruptcy court judge dealt a group of mostly hedge funds a whopping defeat.

Judge Shelley Chapman ruled Thursday, after a 22-day trial, that the hedge funds were entitled to about $2.4 billion from Dick Fuld’s bank — far less than the $11.4 billion they sought at trial and the $37 billion they had first claimed they were due, according to Bloomberg News.

Trustees for the RMBS holders failed to meet a “burden of proof” to show Lehman breaches on the 72,000 mortgages, Chapman ruled.

Among the funds suing Lehman are BlueMountain Capital, a major credit investor, which is run by Chief Investment Officer Andrew Feldstein.

https://nypost.com/2018/03/08/fight-over-lehman-brothers-mortgage-claims-finally-over/

 

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Insomma, questi fondi avevano chiesto a Lehman Brothers ben 37 miliardi all'inizio, per poi vedersene riconoscere 11,4.

Chapman decide che ad essi spettano solo ( si fa per dire ) 2,4 miliardi di dollari.

 

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" Insomma, questi fondi avevano chiesto a Lehman Brothers ben 37 miliardi all'inizio, per poi vedersene riconoscere 11,4.
Chapman decide che ad essi spettano solo ( si fa per dire ) 2,4 miliardi di dollari. "
Scusa duetto! Ma da ciò ne esce qualcosa per noi o niente?
Sul fronte accrediti ultima distribuzione per ora tutto tace!