Lehman Brothers Holdings Inc. (LEH)

Guten Morgen Teras,

es ist wohl dieses System gemeint: http://www.nysd.uscourts.gov/ecf_interruption.php

scheint aber wohl hauptsächlich für Anwälte zu sein.  

Lehman to court: Barclays received secret discount

* Lehman says employees arranged secret discount

* Asks court to return assets to Lehman's estate

* Barclays says deal was intended to be positive (Updates with comments from Barclays, judge, trustee)

By Emily Chasan

NEW YORK, April 9 (Reuters) - Lehman Brothers Holdings Inc (LEHMQ.PK) told a U.S. bankruptcy judge on Friday that Barclays Plc (BARC.L) should be forced to return certain assets it received in its 2008 acquisition of Lehman's core U.S. brokerage, because Barclays arranged a secret $5 billion discount.

In opening arguments at a hearing in U.S. Bankruptcy Court in Manhattan, an attorney for Lehman Brothers claimed that Lehman and Barclays employees had hidden information about the discount from their lawyers and the court, amid intense deal negotiations in the darkest days of the financial crisis.

Lehman filed the largest bankruptcy in history on Sept. 15, 2008, selling its flagship U.S. brokerage business to Barclays for about $1.85 billion less than a week later.

But Lehman is now asking Judge James Peck to make changes to the order that authorized the deal after months of investigation revealed that the sale described to the court was not the sale actually executed.

"Barclays planned on and insisted on the discount and they planned on the liability numbers being inflated," Robert Gaffey, a Jones Day attorney representing Lehman, told the court.

"It was not the wash described to the (Lehman) board, it was not the net benefit described to the estate," he continued, claiming that Barclays received an $11.2 billion immediate windfall profit on the assets it acquired, while the court was told that the sale would actually give Lehman a benefit of about $4 billion in terms of reduced liabilities and cash.

Gaffey showed the court emails from Lehman employees who had been offered new jobs at Barclays, revealing the conflicts they may have had as they were working to arrange the deal.

"They were on their way to new careers, they were serving their new master," Gaffey said.

He said the Lehman employees had arranged for Barclays to get a $5 billion discount on Lehman's $70 billion book of securities -- secretly reducing the values of the assets on Lehman's books, while their lawyers told the court that the markets had forced the change.

"It was not because the markets dropped, it's because the Lehman traders had instructions from Barclays to reduce the values to liquidation value," Gaffey said.

Gaffey said that whether the transfer of assets was a mistake or intentional did not matter, and that Lehman is entitled to the return of assets.

In opening the hearing, Judge Peck said that this was "the start of a long slog," on this dispute, and he may hear several other arguments before making any decision.

BARCLAYS SAYS THE DEAL WAS RISKY

Barclays' attorney David Boies fought back against Lehman's claims later on Friday, telling the court that the deal was always intended to be immediately positive for the British investment bank.

"This was a 'bet your company' investment for Barclays -- it was an enormous risk," Boies said. "It was something where Barclays was the only bidder -- there wasn't anybody else."

Boies said that Barclays had been concerned, like many others on Wall Street, that Lehman had been overly aggressive with the marks on its assets, and Barclays didn't want to risk having to later take a write-down on the acquisition.

He told the court that Lehman and its creditors are trying to change the deal now that the markets have improved, noting the stark contrast with the wild swings going on in the midst of the 2008 negotiations.

Lehman attorneys also told the court that Barclays may have inflated some of the liabilities it said it would assume, such as those related to continuing employment of Lehman staff, and that a "clarification letter" tacked on to the deal after the court approved it materially changed the deal.

Barclays disputed Lehman's claims that their attorneys had been kept in the dark, and said that Lehman could have addressed these concerns much earlier.

"Everybody accepted it because that was the deal and at the time. They knew it was the deal," Boies said. "Yes, people were scrambling at the last minute. Yes, the deal was changing at the last minute, but once the clarification letter was written everybody had a copy of it."

James Giddens, the trustee in charge of liquidating Lehman's brokerage and making sure customers receive their assets, also joined the dispute against Barclays. An attorney for the trustee said that $769 million of government securities and some $4 billion in cash never should have been transferred to Barclays.

Susheel Kirpalani, an attorney for Lehman's Official Committee of Unsecured Creditors, told the court that Barclay's was making a "circular argument" and that Lehman was only in court now because new evidence showed the deal had gone wrong.

"This is not a case about seller's remorse," Kirpalani said. "There is an even greater public policy issue at play -- that is transparency."

Lehman shares closed down more than 5 percent at about 11 cents in the over-the-counter market on Friday, while Barclays shares closed at 356.5 pence on the London Stock Exchange, down 0.2 percent.

The case is In re: Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555. (Reporting by Emily Chasan, editing by Matthew Lewis and Bernard Orr)

http://www.reuters.com/article/idUSN0925627320100409?type=marketsNews  

Die haben da auch 'was zu "September 11th Litigation Cases":

"September 11th Litigation Cases
Information for Counsel in September 11 Litigation

Unless otherwise noted, all hearings and conferences will be held in Judge Hellerstein’s courtroom, 14D, 500 Pearl Street.

Cases involving claims arising out of, resulting from, or relating to the terrorist-related aircraft crashes of September 11, 2001 and naming an airline, an airport security company, and/or The Port Authority of New York and New Jersey have been consolidated for discovery and other pre-trial proceedings. Honorable Alvin K. Hellerstein, District Judge, is presiding. Counsel in such cases should familiarize themselves with Judge Hellerstein’s Rules of Practice and Rules for Sept. 11 Consolidated Cases, as well as his rulings relating to the September 11 Litigation"...

http://www.nysd.uscourts.gov/cases.php?form=sept11

Ich wusste gar nicht, dass es eine solche "September 11 Litigation" überhaupt GIBT!

gleich werden mal die 10 geknackt !
GM  

http://regsho.finra.org/FORFshvol20100412.txt

MONTAGS -Zahlen (KEINE Monats-Übersicht)

Date           | Symbol | ShortVolume | TotalVolume | Market |        %

2010-04-12| LEHJQ  |         529.828 |       773.403 |  O      =  68,506
2010-04-12| LEHLQ |                202 |           1.102 |  O      =  18,330

2010-04-12| LEHMQ |      5.087.372 |  13.044.728 |  O      =  38,999  

...wird hier gar nichts geknackt.

ran an die 0.12 !
GM  

bitte aber nicht ständig den Kurs hier posten. Wir sind alle selber groß - danke ;-))  

GM  

Tja, liegst daneben! :P
 

Stocks To Watch Today
News and commentary about the stocks you need to know about today

April 13, 2010, 9:00 AM ET
Around the World: Lehman, Wamu Back in the News
By Tiernan RAY:

"With June futures on the S&P 500 down 1.4 points at 1,191.20, here are some of the headlines perturbing investors this morning":

http://blogs.barrons.com/stockstowatchtoday/2010/.../?mod=rss_BOLBlog

Docket #8277: 4/13/2010 Response / Debtor's Omnibus Response to Objections to Debtor's Motion to Implement Claims Hearing Procedures and Alternative Dispute Resolution Procedures for Claims Against Debtors (related document(s)[8012], [7939], [7947], [7945], [7581], [7957], [7946], [7921], [7930], [7916], [7943], [7949], [7935], [7944], [7940], [7941], [7951], [7937], [7953], [8203], [8119], [7932], [7952], [7950], [8014], [8027], [7948], [8111], [7938]) filed by Shai Waisman on behalf of Lehman Brothers Holdings Inc.. with hearing to be held on 4/14/2010 at 10:00 AM at Courtroom 601 (JMP) (Waisman, Shai)  
Debtor: Lehman Brothers Holdings Inc.  
Related: 7581, 7916, 7921, 7930, 7932, 7935, 7937, 7938, 7939, 7940, 7941, 7943, 7944, 7945, 7946, 7947, 7948, 7949, 7950, 7951, 7952, 7953, 7957, 8012, 8014, 8027, 8111, 8119, 8203

Centraler EINSPRUNGS-Link:
http://chapter11.epiqsystems.com/docket/...aspx?rc=1&WebAlias=LBH

Und zum DOCUMENT des Docket's #8277 geht es dann HIER:
http://chapter11.epiqsystems.com/LBH/document/...p;DocumentId=1172095

Greifestu diese geistige NAHRUNG:

Docket #8238: 4/12/2010 Statement Trustees Statement Regarding Motion of Lehman Brothers Holdings Inc. Pursuant to Federal Rule of Bankruptcy Procedure 9019 for Authorization and Approval of Certain  SETTLEMENTS  with the Internal Revenue Service (related document(s)[7734]) filed by Christopher K. Kiplok on behalf of James W. Giddens, as Trustee for the SIPA Liquidation of Lehman Brothers Inc.. with hearing to be held on 4/14/2010 at 10:00 AM at Courtroom 601 (JMP) (Kiplok, Christopher)  
Debtor: Lehman Brothers Holdings Inc.  
Related: 7734

Centraler EINSPRUNGS-Link:
http://chapter11.epiqsystems.com/docket/...aspx?rc=1&WebAlias=LBH

Und zum DOCUMENT des Docket's #8238 clickestu HIER:
http://chapter11.epiqsystems.com/LBH/document/...p;DocumentId=1171530

Docket #8266: 4/13/2010 Notice of Withdrawal of Joinder of Wilmington Trust Company, as Trustee, to the Objection of The Bank of New York Mellon, The Bank of New York Mellon Trust Company, N.A., and BNY Corporate Trustee Services Limited to Debtors Motion Pursuant to Section 105 of the Bankruptcy Code, Bankruptcy Rule 9014, and General Order M-390 Authorizing the Debtors to Implement Claims Hearing Procedures and Alternative Dispute Resolution Procedures for Claims Against Debtors (related document(s)[7944]) filed by J. William Boone on behalf of Wilmington Trust Company, as Indenture Trustee. (Boone, J.)  
Debtor: Lehman Brothers Holdings Inc.
Related: 7944

Centraler EINSPRUNGS-Link:
http://chapter11.epiqsystems.com/docket/...aspx?rc=1&WebAlias=LBH

Und hier geht's dann zum DOCUMENT des obigen Docket's #8266:
http://chapter11.epiqsystems.com/LBH/document/...p;DocumentId=1171999

um was geht es den morgen eigentlich nochmal?
weitere claims? steht noch etwas anderes an?

lg
alexfra die 1.  

Docket #8267: 4/13/2010 Notice of  WITHDRAWAL  of Joinder of Bank of America, National Association, Successor by Merger to Lasalle Bank National Association, as Trustee, to the Objection of The Bank of New York Mellon, The Bank of New York Mellon Trust Company, N.A., and BNY Corporate Trustee Services Limited to Debtors Motion Pursuant To Section 105 of The Bankruptcy Code, Bankruptcy Rule 9014, and General Order M-390 Authorizing the Debtors to Implement Claims Hearing Procedures and Alternative Dispute Resolution Procedures for Claims Against Debtors (related document(s)[7946]) filed by J. William Boone on behalf of Bank of America, National Association successor by merger with LaSalle Bank National Association. (Boone, J.)  
Debtor: Lehman Brothers Holdings Inc.  
Related: 7946

Centraler EINSPRUNGS-Link:
http://chapter11.epiqsystems.com/docket/...aspx?rc=1&WebAlias=LBH

Und hier geht's dann zum DOCUMENT des obigen Docket's #8267:
http://chapter11.epiqsystems.com/LBH/document/...p;DocumentId=1172008

WEITERE Claims? - WENIGER Claims!

Schnarches-geneigt: Allezeit dieser Teras.
(PHLEGMO-Trader, SCHNARCH-Sack, Chartist)...

Docket #8276: 4/13/2010 Withdrawal of Claim(s): filed on behalf of The Yamagata Bank Ltd. regarding proof of claim nos. 1371 & 13407 filed by Epiq Bankruptcy Solutions, LLC Claims Agent.(Baer, Herbert)  
Debtor: Lehman Brothers Holdings Inc.  
Related: none

Centraler EINSPRUNGS-Link:
http://chapter11.epiqsystems.com/docket/...aspx?rc=1&WebAlias=LBH

Und zum DOCUMENT des obigen Docket's #8276 geht es dann HIER:
http://chapter11.epiqsystems.com/LBH/document/...p;DocumentId=1172087

9-Comma-und  plus  75-Comma-und  Millionen U$-Dollares sind zurück-zogen worden...

@5992

ja schon clar weitere claims die abgeschmettert werden...
meint ich doch;-)

gute nacht
alexfra die 1.

btw hast du die wamu anhörung verfolgt?  

Docket #8279: 4/13/2010 Statement Of Official Committee Of Unsecured Creditors In  SUPPORT  Of Debtors  OBJECTION  To Proof Of Claim Filed By Latshaw Drilling Company, LLC (Claim No. 18346) (related document(s)[6729]) filed by Dennis F. Dunne on behalf of Official Committee of Unsecured Creditors. with hearing to be held on 4/14/2010 at 10:00 AM at Courtroom 601 (JMP) (Dunne, Dennis)  
Debtor: Lehman Brothers Holdings Inc.  
Related: 6729

Centraler EINSPRUNGS-Link:
http://chapter11.epiqsystems.com/docket/...aspx?rc=1&WebAlias=LBH

Und zum DOCUMENT des obigen Docket's #8279 geht es dann HIER:
http://chapter11.epiqsystems.com/LBH/document/...p;DocumentId=1172163

Ich gehe mal davon aus, dass unsere Lehmänner nicht die einzigen waren mit solch zweifelhaften Praktiken. Also wird im Bankensektor wohl bald die Luft brennen und viele Banken werden versuchen die Lehman-Insolvenz mit so wenig AUfsehen wie möglich vom Tisch zu bekommen. Das könnte gut für uns sein oder was meint Ihr?

Lehman Brothers spekulierten über Strohmann
13.04.2010 | 14:21 |   (DiePresse.com)

Über eine Milliarde Dollar soll die zusammengebrochene US-Investmentbank Lehman Brothers über eine kleine Firma in riskante Geschäfte transferiert haben. In den Büchern war sie nie zu finden.

Die Wall-Street-Banker nutzen nach Recherchen der "New York Times" eine externe Firma, über die sie im Geheimen große Geschäfte abwickelten. Auf diese Weise habe Lehman Brothers die Risiken verschleiert, schrieb die Zeitung am Dienstag. Sie beruft sich dabei auf interne Dokumente und Gespräche mit ehemaligen Mitarbeitern.

Das Unternehmen namens Hudson Castle gehörte demnach nur zu einem Viertel Lehman Brothers, stand aber unter der Kontrolle der Investmentbank. Seit 2001 habe Lehman mehrfach Transaktionen mit mehr als einer Milliarde Dollar  über die kleine Firma abgewickelt, hieß es. Wieviel Geld insgesamt geflossen ist, sei unbekannt. In den Geschäftsberichten sei darüber nichts zu finden.

Aufsicht sucht nach weiteren Schummlern
Die US-Börsenaufsicht SEC untersucht derzeit, inwiefern auch andere Häuser ihre riskanten Geschäfte verheimlicht haben oder noch verheimlichen. Das "Wall Street Journal" fand jüngst heraus, dass viele US-Großbanken ihren Schuldenstand jeweils kurz vor Quartalsende drastisch gedrückt haben, um bei der Bilanzvorlage besser dazustehen. Danach hätten sie wieder kräftig Kredite für ihre spekulativen Geschäft aufgenommen.

Quelle: http://diepresse.com/home/wirtschaft/finanzkrise/...l.home_wirtschaft

Mich würde Eure Meinung zu der Aussage von Marsal interessieren, dass 40-60 Milliarden zum Schluss über sind.

Was könnte das für uns bedeuten? Da müsste doch was hängen bleiben. Oder?  

Wir greifen getz die TAGES-Ordnung:

Docket #8299: 4/13/2010 Notice of Hearing : Notice of Amended  AGENDA  of Matters Scheduled for  HEARING  on April 14, 2010 at 10:00 a.m. filed by Shai Waisman on behalf of Lehman Brothers Holdings Inc. with hearing to be held on 4/14/2010 at 10:00 AM at Courtroom 601 (JMP) (Waisman, Shai)  
Debtor: Lehman Brothers Holdings Inc.  
Related: none

Centraler EINSPRUNGS-Link ist DIESER:
http://chapter11.epiqsystems.com/docket/...aspx?rc=1&WebAlias=LBH

Und zum DOCUMENT des obigen Docket's #8299 geht es dann HIER:
http://chapter11.epiqsystems.com/LBH/document/...p;DocumentId=1172511

http://regsho.finra.org/FORFshvol20100413.txt

DIENSTAGS -Zahlen (KEINE Monats-Übersicht)

Date           | Symbol | ShortVolume | TotalVolume | Market |        %

2010-04-13| LEHJQ  |           29.600 |         42.475 |  O      =  69,688
2010-04-13| LEHMQ |      2.806.156 |    7.725.949 |  O      =  36,321
2010-04-13| LEHNQ |             5.000 |         15.648 |  O      =  31,953
2010-04-13| LEHPQ |             1.313 |           2.768 |  O      =  47,435  

Schon heftig wie hoch das Short Volumen ist. Ich Frage mich nur wann die Blase mal platzt hier...