Stai usando un browser molto obsoleto. Puoi incorrere in problemi di visualizzazione di questo e altri siti oltre che in problemi di sicurezza. .
Dovresti aggiornarlo oppure usarne uno alternativo, moderno e sicuro.
Dovresti aggiornarlo oppure usarne uno alternativo, moderno e sicuro.
LEHMAN BROTHERS QUARTO ATTO
- Creatore Discussione duetto
- Data di Inizio
vareddi
Nuovo forumer
Sistemati quelli che hanno optato per il cambio, ora si passa a questo uleriore passaggio:
LBT ha anche annunciato che, come previsto dalla sua parziale liquidazione, ha stipulato un accordo transattivo ("Accordo di liquidazione") con le sue affiliate LBHI e Lehman Brothers Special Financing Inc. ("LBSF").
LBHI e LBSF sono titolari di crediti ordinari ammessi nei confronti di LBT per importi complessivi di € 2.435.117.645,74 e € 750.434.794,48, rispettivamente, che rappresentano circa il 9,84% e il 3,03% di tutte le richieste riconosciute o altrimenti ammesse nei confronti di LBT.
L'Accordo di Transazione prevede, tra l'altro, che, in piena e definitiva soddisfazione delle loro rispettive rivendicazioni nei confronti di LBT, LBHI e LBSF ricevano una distribuzione di quanto reclamato nei rispettivi importi di US $ 3,398,408,804,40 e US $ 1,047,294,046,41, per un importo proporzionato della liquidità della LBT soggetta a varie deduzioni, aggiunte e rettifiche ai fini dell'assegnazione di varie spese e riserve.
duetto
Forumer storico
C'è del vero: alcune settimane fa ho pubblicato un paio di dockets da Epiq 11 che evidenziavano questo aspetto. A prima vista sembrerebbe che LBHI abbia comprato claim contro LBT, in realtà si tratterebbe di sistemazioni di partite interaziendali.La mia Banca mi ha riferito che presto arriverà un lettera che preciserà che l'acquirente dei titoli LBT è la LBHI...possibile? Ma forse ho capito male!
La sostanza non cambia
duetto
Forumer storico
Si tratta di partite intercompany, anche sotto forma di claims, che vengono sottoposte a transazione e finalizzate alla definitiva sistemazione delle residue partite contabili.Ma questo post si riferisce ai creditori ordinari cioè azionisti lbhi??? Cosa c'entra con noi... Grazie se mi puoi rispondere Duetto
duetto
Forumer storico
Honorable Shelley C. Chapman
Wednesday, June 19, 2019
11:00 AM
08-13555-scc Lehman Brothers Holdings Inc. Ch. 11
Doc #59614 Motion for an Order Enforcing the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and its Affiliated Debtors for Purposes of Distributions filed by Rex Wu
E questa dovrebbe essere una udienza molto interessante per noi.
Vedremo cosa accadrà!
Wednesday, June 19, 2019
11:00 AM
08-13555-scc Lehman Brothers Holdings Inc. Ch. 11
Doc #59614 Motion for an Order Enforcing the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and its Affiliated Debtors for Purposes of Distributions filed by Rex Wu
E questa dovrebbe essere una udienza molto interessante per noi.
Vedremo cosa accadrà!
duetto
Forumer storico
Aggiornamento da Amsterdam per LBT ( riferimento Istituzionali )
Lehman Brothers Treasury Co. B.V. (in liquidation)
Partial Wind-Down Q&A
1.Withthe completion of the Partial Wind-Down and the subsequent payment of the first distribution to holders of Substitute Notes, what is the composition of the remaining pool of claimsand what are LBT’s remaining assets?Following the completion of the Partial Wind-Down and the execution of asettlement and partial release agreement with LBHI and LBSF, LBT’s current claimspool consists solely of Substitute Notes with a face amount of US Dollar 19,626,450,592. An overview of Substitute Notes delivered by original ISIN can be found on LBT’s website at Lehman Brothers Treasury Co. B.V. in liquidation. LBT's claims pool was reduced from an Admissible Amount of Euro 24.8 billion to an Admissible Amount of Euro 14.1 billion, and the population of LBT’s Notes was reduced from 3,797 ISINsdenominated in 21 different currenciesto a single ISIN denominated in US Dollars. LBT’s remaining significant assetsare the Retained LBHI receivable with a face value of US Dollar 19,626,452,736and cash of US Dollar 35.5 million. 2.With respect to LBHI’s seventeenth distribution in April 2019, LBT received US Dollar 27.5million on the Retained LBHI Receivable. Why did LBT only distribute US Dollar 7.5million to holders of Substitute Notes?The amount received by LBT on the Retained LBHI Receivablewas first applied to establish cash reserves, inaccordance with the Solicitation Memorandum and the terms of the Substitute Notes. As a result thereof, an amount of US Dollar 7.5millionremained to be distributedto holders of Substitute Notesin May 2019. The cash reserves of US Dollar 35.5 million established by LBT are comprised of the followingelements:Accrued Expenses primarily relate to the Partial Wind-Down.Future Expenses includes a contingency of US Dollar 5.7 million established by the Liquidators to cover any unassertedclaims arising from the liquidation.The Retention for Disputed Claims relates to a dispute with a Noteholder concerning the Admissible Amount of the Noteholder’s Note. The amount of the Retention for Disputed Claimsis based on the incremental cash distributions that would be payable by LBT in the event that the Noteholder is successful in its claim, increased by statutory interestand the cost of legal proceedings. The Noteholder was unsuccessful in its claim against All amounts in US Dollar millions Accrued Expenses7.0Future Expenses 19.1Retention for Disputed Claims9.435.5LBT at the court of first instance, and subsequently appealed. On 21 May 2019, the Amsterdam court of appealruled partially in favour of the litigating Noteholder. LBT is presently evaluating the judgement of the Amsterdam court of appeal, and its impact on the amount of cash retained by LBT in the Retention for Disputed Claims.3.Before the Partial Wind-Down, the LBHI Receivable held by LBT was US Dollar 34.5 billion. How was this amount reduced to US Dollar 19.6 billion as a consequence of the Partial Wind-Down?This amount was reduced through the Partial Wind-Down as follows:The in-kind distribution to LBHI and LBSF was made in connection with the settlement and partial release agreement referred to at question one above.4.How was the amount of Substitute Notes on issue to third parties determined?LBT issued US Dollar 19,626,450,592 (in face amount)of Substitute Notes to Noteholders who opted to receive Substitute Notes. The aggregate face amount of Substitute Notes issued to these Noteholders was determined so as to correspond closely with the face amountof the Retained LBHI Receivable.A further US Dollar 22,502,128 of Disputed Substitute Notes were issued with regard to the Disputed Claimdiscussed at question three above. These Substitute Notes are held by LBT in treasury, and will be either cancelled or released to the litigating Noteholder depending upon whether or not the litigating Noteholder elects to receive Substitute Notes with respect to any agreed increase in the Admissible Amount of its Note.A further US Dollar 185 of Substitute Notes were issued by LBT to facilitate the resolution of rounding differences arising on the allocation of Substitute Notes; ultimately these Substitute Notes were not used and will be cancelled. 5.What are the Liquidators plans concerning the release of the cash reserves?Overthe next few months, the Liquidators will be examining further possibilities to simplify LBT, including possibilities to complete its wind-down. The Liquidators will continually evaluate the level of cash reserves to be held as these plans unfold.All capitalised terms have the meaning ascribed to them in the Solicitation Memorandum and in the terms of the Substitute Notes.All amounts in US Dollar billions Before Partial Wind-Down34.510.5Less: in-kind distribution to LBHI and LBSF4.419.6Less: sold by LBT to fund the Final Distribution to Cash-Out ClaimsFor additional information concerning LBT and the Partial Wind-Down, please refer to LBT’s website at https://www.lehmanbrotherstreasury.com/Disclaimerand Exclusion of LiabilityThe Disclaimer and Exclusion of Liability appearing on the LBT website are incorporated in this Q&A by reference and apply equally to the information presentedin this Q&A
Lehman Brothers Treasury Co. B.V. (in liquidation)
Partial Wind-Down Q&A
1.Withthe completion of the Partial Wind-Down and the subsequent payment of the first distribution to holders of Substitute Notes, what is the composition of the remaining pool of claimsand what are LBT’s remaining assets?Following the completion of the Partial Wind-Down and the execution of asettlement and partial release agreement with LBHI and LBSF, LBT’s current claimspool consists solely of Substitute Notes with a face amount of US Dollar 19,626,450,592. An overview of Substitute Notes delivered by original ISIN can be found on LBT’s website at Lehman Brothers Treasury Co. B.V. in liquidation. LBT's claims pool was reduced from an Admissible Amount of Euro 24.8 billion to an Admissible Amount of Euro 14.1 billion, and the population of LBT’s Notes was reduced from 3,797 ISINsdenominated in 21 different currenciesto a single ISIN denominated in US Dollars. LBT’s remaining significant assetsare the Retained LBHI receivable with a face value of US Dollar 19,626,452,736and cash of US Dollar 35.5 million. 2.With respect to LBHI’s seventeenth distribution in April 2019, LBT received US Dollar 27.5million on the Retained LBHI Receivable. Why did LBT only distribute US Dollar 7.5million to holders of Substitute Notes?The amount received by LBT on the Retained LBHI Receivablewas first applied to establish cash reserves, inaccordance with the Solicitation Memorandum and the terms of the Substitute Notes. As a result thereof, an amount of US Dollar 7.5millionremained to be distributedto holders of Substitute Notesin May 2019. The cash reserves of US Dollar 35.5 million established by LBT are comprised of the followingelements:Accrued Expenses primarily relate to the Partial Wind-Down.Future Expenses includes a contingency of US Dollar 5.7 million established by the Liquidators to cover any unassertedclaims arising from the liquidation.The Retention for Disputed Claims relates to a dispute with a Noteholder concerning the Admissible Amount of the Noteholder’s Note. The amount of the Retention for Disputed Claimsis based on the incremental cash distributions that would be payable by LBT in the event that the Noteholder is successful in its claim, increased by statutory interestand the cost of legal proceedings. The Noteholder was unsuccessful in its claim against All amounts in US Dollar millions Accrued Expenses7.0Future Expenses 19.1Retention for Disputed Claims9.435.5LBT at the court of first instance, and subsequently appealed. On 21 May 2019, the Amsterdam court of appealruled partially in favour of the litigating Noteholder. LBT is presently evaluating the judgement of the Amsterdam court of appeal, and its impact on the amount of cash retained by LBT in the Retention for Disputed Claims.3.Before the Partial Wind-Down, the LBHI Receivable held by LBT was US Dollar 34.5 billion. How was this amount reduced to US Dollar 19.6 billion as a consequence of the Partial Wind-Down?This amount was reduced through the Partial Wind-Down as follows:The in-kind distribution to LBHI and LBSF was made in connection with the settlement and partial release agreement referred to at question one above.4.How was the amount of Substitute Notes on issue to third parties determined?LBT issued US Dollar 19,626,450,592 (in face amount)of Substitute Notes to Noteholders who opted to receive Substitute Notes. The aggregate face amount of Substitute Notes issued to these Noteholders was determined so as to correspond closely with the face amountof the Retained LBHI Receivable.A further US Dollar 22,502,128 of Disputed Substitute Notes were issued with regard to the Disputed Claimdiscussed at question three above. These Substitute Notes are held by LBT in treasury, and will be either cancelled or released to the litigating Noteholder depending upon whether or not the litigating Noteholder elects to receive Substitute Notes with respect to any agreed increase in the Admissible Amount of its Note.A further US Dollar 185 of Substitute Notes were issued by LBT to facilitate the resolution of rounding differences arising on the allocation of Substitute Notes; ultimately these Substitute Notes were not used and will be cancelled. 5.What are the Liquidators plans concerning the release of the cash reserves?Overthe next few months, the Liquidators will be examining further possibilities to simplify LBT, including possibilities to complete its wind-down. The Liquidators will continually evaluate the level of cash reserves to be held as these plans unfold.All capitalised terms have the meaning ascribed to them in the Solicitation Memorandum and in the terms of the Substitute Notes.All amounts in US Dollar billions Before Partial Wind-Down34.510.5Less: in-kind distribution to LBHI and LBSF4.419.6Less: sold by LBT to fund the Final Distribution to Cash-Out ClaimsFor additional information concerning LBT and the Partial Wind-Down, please refer to LBT’s website at https://www.lehmanbrotherstreasury.com/Disclaimerand Exclusion of LiabilityThe Disclaimer and Exclusion of Liability appearing on the LBT website are incorporated in this Q&A by reference and apply equally to the information presentedin this Q&A
duetto
Forumer storico
Sempre in riferimento ai dubbi derivanti dalla distribuzione finale LBT, mi preme sottolineare un aspetto in particolare: LBHI, in qualità di garante, paga i creditori LBT, ma paga anche in qualità di debitore di LBT.
Quanto alla seconda ipotesi, in che modo LBT ha venduto parte del suo credito nei confronti di LBHI?
LBT nominò Seaport Loan Products, una banca d'investimento con sede negli Stati Uniti, per agire
come agente di collocamento.
Seaport si è impegnato a vendere al meglio, con i "migliori sforzi", con la supervisione costante di LBT.
In un comunicato stampa del 20 marzo 2019, LBT ha annunciato di aver venduto con successo a $ 10.476
miliardi i suoi $ 34.550 miliardi di crediti nei confronti di LBHI in un procedimento d'asta avvenuto il 20
Marzo 2019.
Spero di aver chiarito una volta per tutte questa faccenda.
A proposito, Meteor non si è qualificato come obbligazionista qualificato e pertanto non gli è stato possibile
richiedere e ricevere le note sostitutive: in pratica gli hanno liquidato definitivamente il credito ( come successo per noi )
Quanto alla seconda ipotesi, in che modo LBT ha venduto parte del suo credito nei confronti di LBHI?
LBT nominò Seaport Loan Products, una banca d'investimento con sede negli Stati Uniti, per agire
come agente di collocamento.
Seaport si è impegnato a vendere al meglio, con i "migliori sforzi", con la supervisione costante di LBT.
In un comunicato stampa del 20 marzo 2019, LBT ha annunciato di aver venduto con successo a $ 10.476
miliardi i suoi $ 34.550 miliardi di crediti nei confronti di LBHI in un procedimento d'asta avvenuto il 20
Marzo 2019.
Spero di aver chiarito una volta per tutte questa faccenda.
A proposito, Meteor non si è qualificato come obbligazionista qualificato e pertanto non gli è stato possibile
richiedere e ricevere le note sostitutive: in pratica gli hanno liquidato definitivamente il credito ( come successo per noi )
duetto
Forumer storico
E qui si fa esplicito riferimento alle partite intercompany:
In connessione con la sua precedente liquidazione parziale, Lehman Brothers Treasury Co. BV in liquidazione ("LBT"), tramite il suo consulente americano Kramer Levin Naftalis e Frankel LLP, ha annunciato che il suo agente di collocamento , Seaport Loan Products LLC, ha concluso con successo un'asta di US $ 10,475,844,413 di LBT US $ 34,548,000,000 di reclami interaziendali ("Intercompany Claim") contro Lehman Brothers Holdings Inc. per un prezzo di acquisto lordo totale di US $ 179,472,166.
La vendita dovrebbe concludersi durante la prima settimana di aprile 2019. I proventi netti della vendita (dopo aver dedotto diversi costi e spese relativi alla vendita), insieme ad alcuni contanti disponibili, saranno utilizzati per finanziare una distribuzione finale ai creditori di LBT per chi non riceve le note sostitutive come risultato del precedente processo di sollecitazione di LBT.
In connessione con la sua precedente liquidazione parziale, Lehman Brothers Treasury Co. BV in liquidazione ("LBT"), tramite il suo consulente americano Kramer Levin Naftalis e Frankel LLP, ha annunciato che il suo agente di collocamento , Seaport Loan Products LLC, ha concluso con successo un'asta di US $ 10,475,844,413 di LBT US $ 34,548,000,000 di reclami interaziendali ("Intercompany Claim") contro Lehman Brothers Holdings Inc. per un prezzo di acquisto lordo totale di US $ 179,472,166.
La vendita dovrebbe concludersi durante la prima settimana di aprile 2019. I proventi netti della vendita (dopo aver dedotto diversi costi e spese relativi alla vendita), insieme ad alcuni contanti disponibili, saranno utilizzati per finanziare una distribuzione finale ai creditori di LBT per chi non riceve le note sostitutive come risultato del precedente processo di sollecitazione di LBT.
duetto
Forumer storico
Ora mantenetevi forte:
la XVIII di stribuzione LBHI dovrebbe ( uso volutamente il condizionale ) avvenire il 18 Luglio 2019.
Quindi avverrebbe con un anticipo di ben settantacinque giorni rispetto a quanto previsto.
Questa decisione dovrebbe essere adottata dal giudice il 17 Giugno 2019 e pare che ci siano grandi probabilità che ciò possa affettivamente accadere.
E noi? Lo scopriremo prima di quanto pensavo.
la XVIII di stribuzione LBHI dovrebbe ( uso volutamente il condizionale ) avvenire il 18 Luglio 2019.
Quindi avverrebbe con un anticipo di ben settantacinque giorni rispetto a quanto previsto.
Questa decisione dovrebbe essere adottata dal giudice il 17 Giugno 2019 e pare che ci siano grandi probabilità che ciò possa affettivamente accadere.
E noi? Lo scopriremo prima di quanto pensavo.
Similar threads
- Risposte
- 2
- Visite
- 392
- Risposte
- 17
- Visite
- 1.752
- Risposte
- 9
- Visite
- 1.180
- Risposte
- 0
- Visite
- 676
Users who are viewing this thread
Total: 1 (members: 0, guests: 1)