Lehman Brothers Holdings Inc. (LEH)

danke für die Einschätzung, so dachte ich mir das auch. Ironie des Schicksals, der sichere Hafen in Krisenzeiten: Pennys ohne operatives Geschäft ;-)))  

bis es etwas mehr Klarheit im WAMU-Prozess gibt. Bis dahin hängen wir hier wohl an diesem Tropf. Sobald dort eine richtungsweisende Information durchsickert bzw. publik gemacht wird, werden die Market-Maker die Zügel nicht mehr halten können. Und selbst "olle Teras" wird mit seiner Charttechnik keine Erklärungen finden ;-)

Geduld LEHMAN-Freunde!

 

Transatlantic Fight Splits Clients Of Lehman U.S., Europe Units
Eric Morath
|
02 August 2011

Lehman Brothers Inc. Europe says the trustee winding down its U.S. counterpart could try to block European creditors from recovering $8.9 billion. But allowing such a claim has the potential to dilute recoveries for U.S. customers of Lehman Brothers Holdings Inc.'s brokerage.

In papers filed Monday with the U.S. Bankruptcy Court in Manhattan, the European entity said it "defies explanation" as to why James W. Giddens, the trustee winding down Lehman's U.S. broker-dealer, could determine that Lehman Brothers Europe claims should not receive the same treatment as other customers of the U.S. brokerage.

Giddens has determined that the European entity could "never" be entitled to a customer claim because it's a Lehman affiliate, court papers said.

"The trustee has simply created a purported exclusion out of whole cloth," attorneys for Lehman Brothers Europe said in court papers. U.S. laws governing the wind down of a brokerage "contains no exclusion for affiliates of the debtor."

The trustee's decision--which the European unit is seeking to overturn--could have a significant impact on the both U.S. customers and the European brokerage, which is also being wound down.

If the European claim is treated the same as other customer claims, that unit would share in a sizable recovery. If instead the claim is relegated to general unsecured status, the European entity, and therefore its general creditors, may see nothing at all.

Full allowance, however, of the disputed claim would soak up a significant portion of the remaining funds in the U.S. brokerage's estate--setting up the possibility for a rare occurrence: customers of a regulated U.S. broker-dealer receiving less than a full recovery.

The Securities Investor Protection Corp., the brokerage regulator, says under its watch 99% of all customers have received a full recovery.

As of April, Lehman's U.S. brokerage had $22.8 billion in assets and had allowed about $10 billion claims. Some $42 billion remained unresolved, including the European claim. The trustee is expected to release updated figures next week.

The $8.9 billion claim is the largest still pending against the U.S. brokerage. Giddens has already allowed a separate $8.3 billion claim from Lehman Brothers Europe for the benefit of its customers.

The Lehman brokerages on each side of the Atlantic served as clients and clearinghouses for one another, processing trades for the other in their respective territories.

At the time of Lehman's collapse in September 2008, Lehman Brothers Europe said its U.S. counterpart held billions of dollars worth of securities and cash that was both it and its customer's property.

The trustee in the U.S. has conceded that the customer assets should be returned but balked at the same treatment for the European unit's "house" claim.

That claim consists of assets the European unit placed in the U.S. brokerage on its own account and on behalf of certain customers who had turned over title to their securities to Lehman Brothers Europe.

"We are studying the objection and expect to file a response on September 30," Giddens's office said in a statement Tuesday.

A proposed schedule to litigate the dispute with the European brokerage was filed with the court last week, the trustee said.

That schedule, which has not yet been made public, could extend the fight into 2013.

Giddens is winding down Lehman's U.S. broker-dealer business under SIPC's authority. His team has transferred some 110,000 brokerage accounts with a value of more than $92 billion out of Lehman Brothers following the investment bank's collapse in 2008. The bulk of the Lehman customer accounts were transferred to Barclays PLC (BCS).

The broker-dealer's bankruptcy case is being administered separately from Lehman Brothers Holdings' Chapter 11 proceeding.

Document DJFDBR0020110803e78200001

(c) 2011 Dow Jones & Company, Inc.  


https://www.fis.dowjones.com/...plication=&r=wsjblog&s=djfdbr  

immer wieder gehts n paar Schritte vorwärts ...


Lehman Brothers Holdings Inc. and Lehman Hong Kong Entities Reach Settlement
Agreement Resolves more than $20 Billion of Intercompany Claims

Lehman Hong Kong Entities Agree to Support LBHI''s Pay-Out Plan for Creditors

Lehman Brothers Holdings Inc. (LBHI) and the Liquidators for Lehman Hong Kong, one of the largest groups of LBHI''s international affiliates, have reached an agreement settling all intercompany claims between the U.S. Debtors and Lehman Hong Kong. The agreement, which is subject to approval in the U.S. Chapter 11 and Hong Kong proceedings later this year, settles over $20 billion of complex intercompany relationships between LBHI''s U.S. debtors and nine Hong Kong entities in liquidation.

LBHI has also secured the support of Lehman Hong Kong for its Second Amended Joint Chapter 11 Plan and Disclosure Statement. The Liquidators of Lehman''s Hong Kong entities now join the Unsecured Creditors Committee and other creditor groups representing over $100 billion in claims in support of LBHI''s plan.

Edward Middleton, Partner, KPMG China, and one of the Hong Kong Liquidators, said: "This is a genuinely exciting development. It is a quantum leap in the progress of the Hong Kong liquidations, and I am sure will assist our colleagues in the U.S. as well. The settlement, achieved without litigation, provides mechanics that will cut through many of the complexities of our multi-layered relationships, and will thereby materially speed up the liquidations, which can only be of benefit to our creditors."

Daniel Ehrmann, LBHI''s head of international operations and co-head of derivatives and a managing director at restructuring and professional services firm Alvarez & Marsal, said: "This agreement is another milestone in the case – it resolves more than $20 billion of intercompany claims and contributes significantly to LBHI''s recoveries. As we have consistently stated, we remain focused on negotiating settlements with our international affiliates and to bringing the Estate''s plan to a vote and confirmation by year end."

The Lehman Brothers bankruptcy is the largest and most complex in history. Before the bankruptcy, Lehman Brothers had over $630 billion of assets on its balance sheet and operated as a truly global firm with over 7,000 legal entities in more than 40 countries. Its global cash management system, organizational structure, product lines and operating platforms resulted in numerous cross-border and cross-entity interdependencies. Lehman''s insolvency has resulted in over 75 separate and distinct bankruptcy proceedings, with the non-United States proceedings managed by a number of court appointed administrators, liquidators, trustees, receivers, and like office holders.

LBHI and its affiliated chapter 11 debtors, through their restructuring advisers at Alvarez & Marsal and their attorneys at Weil, Gotshal & Manges LLP, filed the Second Amended Joint Chapter 11 Plan and Disclosure Statement with the United States Bankruptcy Court for the Southern District of New York on June 28, 2011. These filings can be found at www.lehman-docket.com in the key documents section. To date, more than 30 creditor groups representing claims of over $100 billion have signed plan support agreements. The U.S. Chapter 11 debtors will be seeking the Bankruptcy Court''s approval of the Plan and Disclosure Statement at a hearing scheduled to be held on August 30, 2011.



Contacts:

KPMG China
Nina Mehra, +852 2140 2824
nina.mehra@kpmg.com
or
LBHI
Kimberly Macleod, 646-285-9215
kmacleod@lehmanholdings.com
or
Linden Alschuler Kaplan PR
Steven Alschuler, 212-575-4545
salschuler@lakpr.com

Quelle: http://www.finanznachrichten.de/...-entities-reach-settlement-004.htm

... am Markt offensichtlich keine verfügbaren Lehman-Actien mehr. Dann können sie Lehman langsam aus der Insolvenz wieder raus lassen.  

dass mein lange zurückliegender English Leistungskurs einen Rotz wert ist ;-)
Das gröbste verstehe ich, aber die kleinen Feinheiten, die mir sagen ob die News wirklich gut, wirklich schlecht oder wirklich piepegal sind erkenne ich nicht :-(  

Das liegt weniger an den English-Kenntnissen, sondern daran, dass bei den Milliarden und aber Milliarden so ziemlich fast jeder mittlerweile völlig den Überblick verloren hat. Vielleicht hat ja Lehman zwischenzeitlich einen Überschuss von 50 Milliarden. Den Amis traue ich alles zu.  

http://www.world-of-stocks.com/individual_values/lehmq  

kannst Du Deine Aussage im o.g. Post begründen? Würde mich ehrlich interessieren - schließlich ist auch bei WAMU kein Volumen drin, aber wie das mit "verfügbaren" Aktien zusammenhängen soll ist mir nicht klar. Schließlich regelt doch auch die Nachfrage den Kurs... und die sollte - Angebot hin oder her - doch vorhandensein?  

Ich glaub schon, dass es möglich ist, über einen längeren Zeitraum Actien kursschonend einzusammeln und den Kurs nach einer Sammelaktion immer wieder runterzuziehen, um keine Aufmerksamkeit zu erwecken.

Zudem würde ich es nicht 1:1 mit WaMu vergleichen.  

derjenige, der positiv gestimmt ist, begründet das geringe volumen damit, dass niemand verkaufen mag und deswegen keiner kaufen kann ... zu welchem preis auch immer.

man könnte aber auch sagen, dass niemand interesse an lehmännern hat und deswegen kein handel zustande kommt.

tja, wo liegt nun die wahrheit? momentan glaube ich tatsächlich, dass einfach kein interesse besteht ... eben weil keiner mehr durchblickt, wo wir gerade stehen.

oder ist das schon bekannt???

Lehman Resolves $20 Billion of Claims With Hong Kong Affiliates
Aug. 4 (Bloomberg) -- Lehman Brothers Holdings Inc. said it settled $20 billion of intercompany claims with liquidators for Lehman Hong Kong and won the affiliate’s support for its liquidation plan.

Details of the agreement, which is subject to court approval in the U.S. and Hong Kong, weren’t provided in Lehman’s statement yesterday.

Edward Middleton, a partner at KPMG China and one of the Hong Kong liquidators, said that the settlement will benefit creditors by speeding liquidations.

A final reconciliation of claims related to derivatives positions should be reached within 60 days, he said today.

Lehman is gathering support for a $65 billion liquidation plan. It said last month that creditors holding more than $100 billion in claims signed their support for the company’s latest payout plan, which allots more money to a group including Goldman Sachs Group Inc. and less to bondholders including Paulson & Co.

The compromise reached, after contentious battles with creditors, by Lehman Chief Executive Officer Bryan Marsal and negotiators including lawyer Lori Fife of Weil Gotshal & Manges LLP, Lehman’s bankruptcy law firm, ends the threat of “protracted litigation” over the plan, Lehman said in a statement in July.

Plan Confirmation

Lehman aims to confirm its plan by year end and start distributing a “significant” amount of its $21 billion in available cash shortly after, Fife said.

Kimberly Macleod, a spokeswoman for New York-based Lehman, didn’t immediately return an e-mail seeking comment after regular business hours yesterday.

Lehman’s eight Hong Kong units have about $24 billion of assets and claims totaling more than $36 billion on their books, Middleton said today. That included about 2,500 listed equity investments and more than 2,700 derivative trades when KPMG took over in September 2008, he said.

While Middleton said he wasn’t able to quantify the recovery rate under the settlement pending final numbers, he said that Lehman Brothers Asia Holdings, the regional funding entity for the Asia Pacific, has already paid its non-Lehman creditors a first initial dividend of 5 percent, or a total of HK$500 million ($64 million).

In February, Lehman said it will allow bankrupt German affiliate Lehman Brothers Bankhaus AG to claim $6.6 billion from the parent company as part of a settlement, compared with an original claim of $25 billion.

Once the world’s fourth-biggest investment bank, Lehman entered bankruptcy almost three years ago and twice amended its proposals to pay claims in response to creditor challenges.

Marsal aims to raise a total of $65 billion from the firm’s assets, including the cash already in hand. He previously estimated final claims at more than $300 billion.

Lehman filed for bankruptcy in 2008 with assets of $639 billion.

The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

--With assistance from Vivek Shankar in San Francisco. Editors: Michael Hytha, Douglas Wong

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: John Pickering at jpickering@bloomberg.net

http://www.businessweek.com/news/2011-08-03/...g-kong-affiliates.html  

So langsam wird es aber Zeit das die Börse derartige News honoriert. Die signifikanten Fortschritte müssen so langsam  eingepreist werden dann sind diese Kurse im einstelligen Cent Bereich  endgültig  Geschichte. 1 $ sollte bald möglich sein. http://www.kpmg.com.hk/restructuring/ Lehman Brothers  Holdings Inc. and Lehman Hong Kong Entities Reach Settlement The agreement  resolves over USD$20bn of intercompany claims Lehman Hong Kong Entities Agree to  support LBHI's Pay-out Plan for Creditors 4 August 2011,  Hong Kong Lehman Brothers Holdings Inc. (LBHI) and the  Liquidators for Lehman Hong Kong, one of the largest groups of LBHI's  international affiliates, have reached an agreement settling all intercompany  claims between the U.S. Debtors and Lehman Hong Kong. The agreement,  which is subject to approval in the U.S. Chapter 11 and Hong Kong proceedings  later this year, settles over $20 billion of complex intercompany relationships  between LBHI's U.S. debtors and nine Hong Kong entities in  liquidation. LBHI has also secured the support of Lehman Hong Kong  for its Second Amended Joint Chapter 11 Plan and Disclosure Statement. The  Liquidators of Lehman's Hong Kong entities now join the Unsecured Creditors  Committee and other creditor groups representing over $100 billion in claims in  support of LBHI's plan. Edward Middleton, Partner, KPMG China, and  one of the Hong Kong Liquidators, said: "This is a genuinely exciting  development. It is a quantum leap in the progress of the Hong Kong liquidations,  and I am sure will assist our colleagues in the U.S. as well. The settlement,  achieved without litigation, provides mechanics that will cut through many of  the complexities of our multi-layered relationships, and will thereby materially  speed up the liquidations, which can only be of benefit to our  creditors." Daniel Ehrmann, LBHI's head of international operations  and co-head of derivatives and a managing director at restructuring and  professional services firm Alvarez & Marsal, said: "This agreement is  another milestone in the case - it resolves more than $20 billion of  intercompany claims and contributes significantly to LBHI's recoveries. As we  have consistently stated, we remain focused on negotiating settlements with our  international affiliates and to bringing the Estate's plan to a vote and  confirmation by year end." The Lehman Brothers bankruptcy is the  largest and most complex in history. Before the bankruptcy, Lehman Brothers had  over $630 billion of assets on its balance sheet and operated as a truly global  firm with over 7,000 legal entities in more than 40 countries. Its global cash  management system, organizational structure, product lines and operating  platforms resulted in numerous cross-border and cross-entity  interdependencies. Lehman's insolvency has resulted in over 75  separate and distinct bankruptcy proceedings, with the non-United States  proceedings managed by a number of court appointed administrators, liquidators,  trustees, receivers, and like office holders. LBHI and its affiliated  chapter 11 debtors, through their restructuring advisers at Alvarez & Marsal  and their attorneys at Weil, Gotshal & Manges LLP, filed the Second Amended  Joint Chapter 11 Plan and Disclosure Statement with the United States Bankruptcy  Court for the Southern District of New York on June 28, 2011. These  filings can be found at www.lehman-docket.com in the key documents  section. To date, more than 30 creditor groups representing claims of over $100  billion have signed plan support agreements. The U.S. Chapter 11 debtors will be  seeking the Bankruptcy Court's approval of the Plan and Disclosure Statement at  a hearing scheduled to be held on August 30, 2011. - Ends  - -------------------------------------------------- About  KPMG KPMG is a global network of professional firms providing Audit,  Tax and Advisory services. We operate in 150 countries and have 138,000 people  working in member firms around the world. The independent member firms of the  KPMG network are affiliated with KPMG International Cooperative ("KPMG  International"), a Swiss entity. Each KPMG firm is a legally distinct and  separate entity and describes itself as such. KPMG China has 13  offices (including KPMG Advisory (China) Limited) in Beijing, Shanghai,  Shenyang, Nanjing, Hangzhou, Fuzhou, Xiamen, Qingdao, Guangzhou, Shenzhen,  Chengdu, Hong Kong and Macau, with around 9,000 professionals.

 

Krass das wird mega spannend ! Am 30. August eine Abstimmung - bis dahin sollte die Aktie deutlich steigen !

"Lehman is scheduled on Aug. 30 to seek the court's permission to hold a creditor vote on a plan to exit bankruptcy that would provide creditors an average of only 20 percent recovery on claims. If creditors approve, it could exit bankruptcy late this year or early 2012 and begin paying creditors soon after."

http://www.reuters.com/article/2011/08/03/lehman-idUSN1E77219A20110803

 

wer den zahlen nicht mehr folgen kann: wir reden hier nicht von 20 mio usd sondern 20 MRD(!!!) USD. vielleicht reagiert die börse wieder so schläfrig auf die news wie nach der letzten sensationsmeldung. könnte daran legen, da unsere lehmq eben eine schläfrige aktie ist.

lehmq ist ja lt. fachsprache eine U-BOOT-AKTIE, da sie ja insolvent ist. mann, ich verfolg die lehman-news nun schon seit dem crash und verdammt: die müssten doch bereits im geld sein!

guten morgen!  

 

 

http://shortsqueeze.com/?symbol=LEHMQ&submit=Short+Quote%99

 

... oder ins bodenlose fallen. ich kenne den plan nicht, ob der "neustart" mit oder ohne den alten commons stattfinden wird... wie begründest du deinen optimismus?

Optimismus hab ich keinen - wenn man sich den Kursverlauf der letzten Tage anschaut kann man annehmen das es weiter runter geht ! Von steigenden Kursen braucht man im Moment zum. nicht ausgehen

 

weil du von steigenden kursen vor verlassen von CH-11 ausgehst.
meine hoffnungen sind folgende:

1. die creditors geben sich nicht mit 20 cent/$ zufrieden, schieben ihre forderungen auf und lassen lehman für die nächsten jahre operativ arbeiten und dadurch wieder ein gewinnbringendes unternehmen werden. nehmen wir mal an, JPM würde etwas "kastriert" werden, wäre einiges an platz für expansionen frei.

2. man rechnet fest mit den (meines wissens) hohen steuerrückvergütungen (NOL's), die (ebenfalls meines wissens nach) nur genutzt werden können, wenn die alte AG (also auch unsere commons) bestehen bleibt.

gibts andere meinungen hierzu?  

Das schreiben die Chinesen:


Updated Friday, August 5, 2011 11:02 pm TWN, AFP
Lehman Brothers to settle US$20 bil. in claims through HK liquidation deal
HONG KONG -- Lehman Brothers said Thursday it had reached a deal to settle more than US$20 billion in claims tied to its Hong Kong business after its collapse, which triggered the global financial crisis. The agreement was hailed as “another milestone” in a complicated liquidation with creditors across the world demanding more than US$300 billion from the former Wall Street titan, in one of history's biggest corporate bankruptcies.

          §Its collapse in September, 2008, after its risky bets on the U.S. housing market turned bad, sent shockwaves through the world banking system. Lehman said the deal announced Thursday would settle more than US$20 billion in “inter-company claims” between it and its collapsed affiliates in Hong Kong, and may speed up the liquidation.


          §Its collapse in September, 2008, after its risky bets on the U.S. housing market turned bad, sent shockwaves through the world banking system. Lehman said the deal announced Thursday would settle more than US$20 billion in “inter-company claims” between it and its collapsed affiliates in Hong Kong, and may speed up the liquidation.


http://www.chinapost.com.tw/business/...05/312323/Lehman-Brothers.htm  

wie kann ich dir mal einen Stern verleihen für die super Recherchen die du immer machst???

 

Einfach auf "bewerten" klicken. Danke und Grüsse.  

das tut aber nur, wenn du dich bei ariva registriert hast. über finanzen.net gehts nicht ...

kriegen jetzt mal so nen Stern von mir, dafür auch einen goldenen!!!

weil nix ariva sondern nur finanzen.net. Muss ich mal ändern.

Hoffe das ist auch ok !!!

Jetzt muss nur noch der kurs mal raufgehen, da wäre doch schööööööööööööööööööööööööön!