Lehman Brothers Holdings Inc. (LEH)
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Lehman Brothers amends bankruptcy plan
– Wed Jan 26, 1:01 am ET
WILMINGTON, Delaware (Reuters) – Bankrupt financial company Lehman Brothers Holdings Inc (LEHMQ.PK) proposed a new plan for divvying up billions of dollars among its creditors after bondholders said the previous version was unfair.
The plan filed late Tuesday, key to Lehman's exit from the largest bankruptcy in U.S. history, comes after an earlier version filed in April met strong opposition from hedge fund Paulson & Co, the California Public Employees Retirement System (Calpers) and other bondholders.
Lehman Brothers' amended plan proposed trimming payments to unsecured creditors of the derivative unit, Lehman Brother Special Financing. It also proposed increasing payments to the senior unsecured creditors of the holding company.
The ad hoc group of bondholders, which says it has about $20 billion of claims, had objected to Lehman's previous plan saying that it favored large banks who were creditors of the derivatives business over other creditors.
The case is In re: Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555.
(Reporting by Tom Hals; Additional reporting by Caroline Humer in New York; Editing by Muralikumar Anantharaman)
Quelle: http://news.yahoo.com/s/nm/20110126/bs_nm/...others_bankruptcy_plan_1
Dank an Pjöngjang
Wednesday, Jan. 26, 2011
Lehman offers debtors more money in amended filing
NEW YORK -- Lehman Brothers is offering bondholders more money in a revised plan to exit bankruptcy.
The investment bank, which filed for bankruptcy during the height of the financial crisis, has been in a tug of war over how much it owes its creditors. Lehman offered the revised plan in a filing late Tuesday with the U.S. bankruptcy court in New York.
In the new plan, Lehman Brothers Holdings Inc. proposed to increase its payments to bondholders to 21.4 cents on the dollar, up from 17.4 cents, which it had offered in a previous plan filed in March. Bondholders, who make up $83 billion of total claims, are its largest creditors.
Shareholders of Washington Mutual Inc. filed court papers Wednesday challenging a Delaware bankruptcy judge's ruling that a proposed legal settlement underlying the company's reorganization plan is fair and reasonable.
Telecommunications company FairPoint Communications Inc. emerged from bankruptcy reorganization Monday, nearly 15 months after filing for Chapter 11 with a crushing debt load and a battered financial sheet.
Telecommunications company FairPoint Communications Inc. emerged from bankruptcy reorganization Monday, nearly 15 months after filing for Chapter 11 with a crushing debt load and a battered financial sheet.
Attorneys for creditors who oppose Tribune Co.'s reorganization plan are seeking more information related to the proposed settlement of legal claims arising from the 2007 leveraged buyout that left the media conglomerate saddled with debt.
"The value of our assets has gone up," John Suckow, president and chief operating officer of Lehman Brothers, said in an interview. Lehman also changed how much other kinds of creditors would receive.
In the new plan, those creditors would receive between 11.2 cents and 19.8 cents on the dollar depending on the seniority of their claims. The March plan had proposed that these creditors would receive a flat amount of 14.7 cents on the dollar.
Lehman was the largest bankruptcy in U.S. history when it filed for Chapter 11 in September 2008 and listed $613 billion in debts.
The plan is supported by a committee of unsecured creditors, but will have to be approved by other creditors too. Suckow said he expects to file a disclosure statement by summer before creditors vote on the proposal.
Read more: http://www.thesunnews.com/2011/01/26/1944270/...ey.html#ixzz1CDYm3AXH
Quelle aufgetan von pjöngjang: http://www.thesunnews.com/2011/01/26/1944270/...ey.html#ixzz1CB1BqKbH
hier könnte diese woche was gehen!!! hoffentlich hat judge peck KLONKS!
http://c0182412.cdn1.cloudfiles.rackspacecloud.com/2010-0901-Fuld.pdf
day, do not know that on September 12, the Friday night preceding Lehman’s
bankruptcy filing, Lehman financed itself and did not need access to the Fed’s
discount window. In addition, on that Monday, September 15, the day of the
filing, Lehman Brothers Inc., the U.S. broker-dealer subsidiary, borrowed about
$50 billion from the New York Fed by pledging acceptable collateral. The Fed
was paid back 100 cents on the dollar. What Lehman needed on that Sunday night
was a liquidity bridge. We had the capital."
"In retrospect, there is no question we made some poorly timed business
decisions and investments, but we addressed those mistakes and got ourselves back
to a strong equity position with a Tier I capital ratio of 11%. We also had
financeable collateral and solidly performing businesses. There is nothing about
this profile that would indicate a bankrupt company.
I thank the Commission for its time and look forward to addressing any
questions."
Lehman In $6.6 Billion Settlement With Creditors Of German Affiliate
"NEW YORK -(Dow Jones)- Lehman Brothers Holdings Inc. (LEHMQ) has reached a $ 6.6 billion settlement with creditors for its second-largest foreign affiliate, German-based Lehman Brothers Bankhaus AG, according to a person close to Lehman.
LB Bankhaus also said it will support Lehman's amended plan to distribute its assets to creditors.
"This agreement is a milestone in the resolution of the Lehman proceedings and is in line with our overall approach to favor compromises with affiliates and avoid lengthy and costly litigation," Lehman Chief Executive Bryan Marsal, of restructuring firm Alvarez & Marsal, said in a statement.
The agreement between Lehman and LB Bankhaus, which "settles all intercompany relationships" between the two parties, must be approved by both U.S. Bankruptcy Court in Manhattan and a German court.
Lehman last week unveiled details of a new plan to distribute its assets, a proposal that would give creditors a better recovery than the investment bank's original plan disclosed last April"...
SOURCE / LINK / QUELLE dieses Ausschnitts:
http://news.morningstar.com/newsnet/...OWJONESDJONLINE000430_univ.xml
Lehman Brothers einigt sich mit deutscher Tochter
"2011-02-04 | New York - Die Gläubiger der insolventen Investmentbank LEHMAN Brothers sind ihrer Entschädigung ein Stück näher gekommen. Das US-Mutterhaus hat sich mit ihrer ebenfalls insolventen deutschen Tochter Lehman Brothers Bankhaus AG über Forderungen von 6,6 Milliarden Dollar (4,8 Mrd Euro) geeinigt.
Details des Vergleichs, der noch von Gerichten beider Länder bestätigt werden muss, teilte US-Insolvenzverwalter Bryan MARSAL in New York allerdings nicht mit. Die Lehman Brothers Bankhaus AG ist die zweitgrößte Auslandstochter der im September 2008 zusammengebrochenen US-Investmentbank.
Gläubiger fordern von beiden Seiten Geld; und auch untereinander stritten sich die Gesellschaften. Alle Probleme zwischen den beiden Unternehmen seien nun gelöst, sagte der deutsche Insolvenzverwalter Michael FREGE. «Diese Vereinbarung ist ein Meilenstein in der Lösung des Lehman-Verfahrens», erklärte sein US-Kollege Marsal"...
SOURCE / LINK / QUELLE dieses Ausschnitts:
http://business-panorama.de/news.php?newsid=85305
P.S.: Michael FREGE ist der Bruder des als "Campino"
bekannt gewordenen FrontMan's derer "Toten Hosen".
kauft hier in deutschland, wenn die heimatbörse noch schläft ...
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Kommentar: Regelverstoß - der Hinweis ist ja nett gemeint; der Betreff grenzwertig. Bitte etwas netter in Zukunft ...
Zeitpunkt: 04.02.11 15:12
Aktion: -
Kommentar: Regelverstoß - der Hinweis ist ja nett gemeint; der Betreff grenzwertig. Bitte etwas netter in Zukunft ...
glück auf
alexfra die 1.
...könnte sein, denn immerhin sind wir noch meilenweit vom geld entfernt und gem. letzten POR sollen wir immernoch ausgebucht werden!
aber wenn nicht, dann...
Bei deiner Ausdrucksweise bezweifele ich ganz stark, dass du überhaupt ein Aktienhändler bist. Wenn doch, dann sicher kein besonders erfolgreicher. Anders kann ich mir diese Artikulation nicht erklären.
Man merkt, dass Winterferien sind!