Docket 3193 - 3194 - LBB
Manco a farlo apposta
Nel
3193 la LBHI richiede di investire ancora un po' e di mettere in atto certe azioni per mantenere il capitale della
Lehman Brothers Bank a livello adeguato:
"Relief Requested
12. By this Motion, the Debtors seek authorization, but not direction,
pursuant to sections 105(a) and 363(b)(1) of the Bankruptcy Code and Bankruptcy Rules
9019 and 6004, to execute the following actions to support the Bank’s capital level:
• LBHI’s entry into one or more assignment agreements (the
“Assignment Agreements”) with Aurora to transfer all or part of a
portfolio of LBHI’s unencumbered mortgage servicing rights to
Aurora;
• LBHI’s entry into a settlement agreement (the “Settlement
Agreement”) with the Bank and Aurora, pursuant to which LBHI
will convey to and confirm Aurora’s ownership of certain funds;
• LBHI’s investment of cash up to $15 million in one or more capital
contributions (the “Cash Contribution,” and together with the
Assignment Agreement and the Settlement Agreement, the
“Capital Contribution”); and
• The consensual termination of unfunded loan commitments with
General Electric Capital Corporation (“GECC”), among others, in
which LCPI, the Bank and Woodlands are participants aggregating
$1.375 billion (the “Loan Commitment Termination,” and together
with the Capital Contribution, the “Capital Maintenance
Actions”).
The Capital Maintenance Actions are intended to enable the Bank to maintain its capital,
starting as of March 31, 2009, at a level satisfying the capital adequacy requirements
under the applicable regulations and the PCA, and otherwise to provide a level of capital
sufficient to support the Bank’s strategies. Given the exigency of the circumstances and
to avoid irreparable harm to their estates, the Debtors further request that the Court waive
the requirements of Bankruptcy Rule 6004(h) and direct that the order granting the relief
requested herein be effective immediately.
13. It is currently anticipated that, in order for LBB to meet the capital
adequacy requirements on March 31, 2009, the bulk of the Capital Maintenance Actions
will be required to be taken by such date.
To the extent not required by such date, LBHI
seeks authorization, but not direction, to commit to contribute, or to contribute,
subsequently the balance of the Capital Contribution as needed for the Bank to meet
capital adequacy requirements in accordance with the PCA or, even if not so required
(and subject to certain conditions), to support implementation of the Bank’s business
strategy. As set forth more fully below, the Debtors’ decision to perform the Capital
Maintenance Actions represents a reasonable exercise of their business judgment and
should be approved."
Altri dettagli (un po' sopra le mie capacità
) sono nel docket, che allego.
Comunque da quello che ho capito non si tratta, in massima parte, di un investimento in capitale, ma di chiusure di prestiti.
Nel
3194 Perez sollecita l'approvazione della mozione di cui sopra entro il 30 marzo, pur non rispettando l'intervallo dei 20 giorni richiesto dalla procedura, in modo che la Banca possa essere a posto per il 31:
"ii. As part of its next quarterly financial report, LBB must
report its capital level as of March 31, 2009 to the
Regulators. It is expected that LBB’s capital on such
date will be below the 8% level that is considered to be
adequate under the applicable regulations and required by
the PCA. If the Bank is not in compliance with the PCA,
the Bank’s Regulators may take actions to restrict or
control the Bank’s activities that could jeopardize the
value of LBHI’s equity interest. To preserve the value of
LBHI’s equity interest and to avoid the risks associated
with a failure of the Bank, including the potential
exposure of LBHI’s equity interest in Woodlands, the
Debtors have determined to take certain actions intended
to support the Bank’s capital level on March 31, 2009
and to thereafter maintain the Bank’s capital at the
adequacy level in connection with a long term business
strategy for the Bank (the ¨Capital Maintenance
Actions”). The Capital Maintenance Actions are
primarily non-cash capital contributions.
iii. Ensuring that the Bank’s capital is adequate on March 31,
2009 avoids the risk of regulatory action that could
jeopardize the value of LBHI’s equity interest. Also, by
making the investment prior to the quarter ending on
March 31, 2009, LBHI will obtain the added benefit of
satisfying, starting with the quarter ended March 31,
2009, a portion of the commitment obligation required of
it under the PCA to ensure that the Bank maintains
adequate levels of capital for a period of four consecutive
quarters.
iv. Under Bankruptcy Rule 2002(a), motions to use property
of the estate outside the ordinary course require twenty-
days’ notice. Due to the risks associated with an
inadequate capital level for the Bank on March 31, 2009
and the benefits to the Debtors of the Bank attaining an
adequate capital level on such date, the Debtors require
authorization to take the Capital Maintenance Actions
prior to March 31, 2009."
).
