Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
https://www.rns-pdf.londonstockexchange.com/rns/6391X_1-2022-8-30.pdf
WTF, LBHI YOU issued the subordinated notes to LP IV and LP V. You need to pay up LBHI!!! and... I want interest too for your shady accounting.
How do you issue something, but NOT have any responsibility to what you issued.
ACCOUNTABILITY is required here!!!
Claims by LP IV and LP V against LBHI
4.30 It was LBHI and not LBH that issued subordinated notes to LP IV and LP V in return for
the payment of the regulatory capital that was raised by the issuance of the Securities
by LP IV and LP V. The LP IV and LP V Partnerships may have a claim for payment of
a dividend by LBHI in relation to the subordinated notes that were issued. This is a
matter that the Joint Liquidators are continuing to keep under review. However, it is the
Joint Liquidators’ understanding that LBHI’s subordinated debt holders are currently
not expected to receive any distribution. The Joint Liquidators therefore understand that
the prospects of any recovery from LBHI in relation to these claims are very low.
That's my take. If someone is supposed to be dead, why are they taken for daily walks?
Correct me if I am wrong. Old GM already issued the equity shares and warrants to the trust and the trust already distributed to the holders on record back them. As far a I know, old GM is gone now and the trust have no other assets.
I do have a question. LBHI I guess maybe hold the commons? And LBHI is still in bk so, that is why ccypq is still trading? LBHI is not obligated to pay ccypq and the trust dont have any assets left? In other words, it's just a shell trading. But, why allow ccypq to continue trading if there is no value left? Ccypq is not mentioned or a part of the LBHI bk right? I think ccypq is owed by GM and LBHI owns ccypq via commons, so LBHI is owed and that is why it's still trading. Thanks
Ok. So you bought at ask. I dont think I will buy in at .12. I rather buy CTs then. I might go for sub penny to .015 cents a share.
Haha. How much did you get your shares for? The bid is .005 and ask is .12. Today MMs hit ask.
What is a good price?
Haha. How much did you get your shares for? The bid is .005 and ask is .12. Today MMs hit ask.
What is a good price?
I wouldn't put too much on that "up 2300%". I had a stink bid in for a week or so, but no one bit. So I just lowered the number of shares, and hit the ask.
Q1. Yes
Did you buy this?
Q2. Play, IDK. I just throw a few in my dog pile, and wait.
Is there a play here?
Q3. The gambler in me says maybe.
Is there potential for a payout?
YW
From my DD. The old GM certs are the only assets. Then I read in an sec filing there can be more assets? Today it's up 2300% on low volume with a .005×.12 bidask.
Did you buy this? Is there a play here? Is there potential for a payout? Thanks.
nah never did, was hard too really find info on these so I just gave up and figured if I really wanted in id have time. maybe I'll look into these because now I got 5 years! haha
The iBox says A-1.
Lehman ABS Corp., 7.375% Corporate Backed Trust Certificates, Series 2001-8, Class A-1
Any thoughts on this? Did you buy in? I am thinking about buying a few shares. I know they made 2 distribution of GM shares to the class A-1 certs but nothing to A2 certs. I assume these are the A-2 certs?
hey eddy do you still hold these? did they ever pay off? thinking of buying in, thanks
Anybody know whats going on with these?
Why are they still trading?
Seems no legal action since 2011
https://www.wilmingtontrust.com/gmbondholders/notices.html
Huge spread between ask and bid this has to be a sign of a move upwards.
well I hope they are going to give partial shares lol
Big distribution (joking). Each share will receive:
- 0.0018910207 GM common
- 0.0018165771 of each of the warrants
up $1.045 today anyone with any ideas?
are we in for more distributions?
Any idea of what we are in store for and when
tia
Read the liquidation docs namely the April 21, 2011 distribution notice.
Also, Why else would the stock be trading at $0.50?
The first distribution was an initial distribution of GM shares. There will be subsequent distributions.
It is a little odd because the GM bonds stopped trading so I agree.
any ideas why this is still listed and trading and the other old preferred with cusip numbers listed still also
Partial payout has already occurred.
Just looked at these for the first time in forever....what the hecks going on lol
nice dividend in a and b stock over the weekend and the original shares are still showing. thanks gm
all my other old gm's are now the new gm but this has not changed over yet. does anyone have any ideas why. i have tried to sell these since the conversion with no luck
Bankruptcies November 24, 2010, 5:00PM EST
A Stock Windfall for GM's Creditors
Warrants for 273 million shares may add to a $5 billion haul
By Tiffany Kary and Linda Sandler
Creditors of General Motors' (GM) bankrupt predecessor, who will likely get about $5 billion from the new automaker's $20 billion initial public offering, might be able to buy millions more new shares at a deep discount.
GM's bankrupt estate got 150 million shares, or 10 percent of stock in the new company, to help pay off creditors. At the Nov. 19 closing price of $34.26, that stock is worth about $5.1 billion. So-called old GM has warrants that entitle it to buy about 273 million additional shares at $10 to $18 each, according to the company's Nov. 17 filing with the U.S. Securities and Exchange Commission. The warrants will become even more valuable if GM shares rise. At least one analyst expects they will. "We value the shares of the new GM at $45," says Kirk Ludtke, a senior vice-president at CRT Capital Group in Stamford, Conn.
The estate's creditors received rights to the shares after GM bondholders with about 54 percent of the carmaker's $27 billion in debt agreed to support a plan that swapped debt for equity. The bankrupt company, now known as Motors Liquidation, is still counting up creditors' claims, which totaled $35.7 billion as of Sept. 30, according to its last monthly operating report.
If unsecured claims end up exceeding $35 billion, the estate would get at least 10 million additional GM shares. If claims go as high as $42 billion, creditors could get as many as 30 million new shares, according to the IPO documents. "The stock is certainly worth more than almost anyone thought at the time," says Chip Bowles, a bankruptcy lawyer at Greenebaum, Doll & McDonald in Louisville.
When GM filed for bankruptcy in June 2009, it sold its most valuable assets, including its Cadillac and Chevrolet divisions, to a new company. Unwanted properties, such as outmoded factories and its Saturn division, were left under bankruptcy-court protection and are to be liquidated under a plan that repays loans from the U.S. Treasury and Canada.
While the IPO revenue is a potential boost for creditors, some holders of the old GM's bonds believe they should be getting more money now that the company has been revived. "The big issue that will be debated for a long time is whether the value being raised in the IPO is really value that should have been part of the estate for old creditors," says Michael P. Richman, chairman of Patton Boggs' restructuring practice, who represented bondholders challenging the government's plan for GM in June 2009.
The creditors won't get any stock until they agree on a liquidation plan and a judge approves it. One unresolved issue is General Motors' asbestos liability, which GM's estate estimates at $648 million. A committee of creditors said in court filings that the amount may be 5 to 10 times that much. Lack of consensus on a plan is "delaying distribution to literally thousands of innocent creditors," U.S. Bankruptcy Judge Robert E. Gerber said in a Nov. 22 hearing.
The bottom line: GM's successful public offering is providing money to pay off creditors of the bankrupt company, who have warrants to buy more shares.
Kary is a reporter for Bloomberg News. Sandler is a reporter for Bloomberg News.
http://www.businessweek.com/magazine/content/10_49/b4206054196861.htm
maray no i didn't but this evening i got the cusip # and old symbols together(370442121 = gms %7.50 senior note, 370442758 = rgm %7.25 sn etc) and will call etrade on it. it seems to me we will get 2-2 1/2 share per $1000 face plus the warrants to buy a few more when and if the price goes up to ~$45.00 then a few more when the price goes up even more.
$1000 face right equals about $310 (40 shares x current share price of $7.75) I think I will try and sell most as I believe this money will do better some where else.
Thanks for all your help
I hope etrade lets me trade them
on anothr note I feel wamu has a better chance after todays filings
be well
Jcpnny: Did you sell the bond?eom
Agreed, I was thinking "really" when I was readying that article. LOL
But ya, your are right, the Union sure wanted same cash to fill their pensions.
We will see how time will treat GM shareholders. At least the majority of the shareholders are institutional (according to the articles).
Good night all.
imo
Only in America can you watch the biggest fall from grace and rise again. Thats the great thing about this country. I would not call it a "resounding success" though lol, the thing trended down all day. I suppose after all this time though there were many bondholders / union workers / etc that wanted to see a little of their cash back after that debacle.
I think GM will go up given time, just requires patience...SIX, CIT, AXL, PIR, DAN, VSTO are a few examples of BK or near BK companies that have done very well after surviving. ABWTQ (ABI) will be another that follows suit, albeit after screwing its legacy shareholders and creating new stock.
imo
Lets hope it appreciates and eventually pay dividends. Great to be a part of history.
And hopefully, those "jerk-off" unions are done selling into the market.
imo
CCYPQ is the bold. I have the RED.
Yes, that is the way I remember it. It was X amount of shares per $1,000.
Also, yes, you can trade your security on the yellow market. Call Etrade as ask for corporate action team or corporate action dept.
imo
Can't say it much better than that guy lol. I will admit however for being a part of history's sake I bought a small allotment of GM stock right when it opened
maray does my memory serve me right when i think we will be getting x number of shares of the new gm per $1000.00 face value of old preferreds we now hold. If this is correct is there any way we can trade some of the old preferred (now on etrade as only a cusip number) to round them off to the level needed to have an even $1000. number
tia
For you since you are pro-Ford:
Woohoo, offering increased to 478mm shares...people sure want this POS
If the hype is there and you are able to get some for a quick flip, may be worth that.
imo
Actually I think GM wishes they were selling Volts, I dont think they have sold any yet at any price.
Followers
|
8
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
172
|
Created
|
06/17/09
|
Type
|
Free
|
Moderators |
Lehman ABS Corp., 7.375% Corporate Backed Trust Certificates, Series 2001-8, Class A-1
The trust is comprised of $32,575,000 principal amount of General Motors 8.10% Debentures due 6/14/2024 (MTLQ.GF / CUSIP 370442AV7). The underlying securities will be exchanged for equity securities in New GM. Debtholders are expected to receive 10 percent of the common stock in New GM and warrants to buy another 15 percent. GM is expected to be a public company within 6 to 18 months.
The issue price was $25. Each certificate represents a 1/40 interest in the underlying $1,000 debenture. The prices of the CCYPQ and MTLQ.GF should be highly correlated. For example, CCYPQ should trade near $2.50 if the underlying security, MTLQ.GF trades at 10 or $100 per $1000. The trust will receive New GM securities, which will be sold and the proceeds distributed to certificate holders. CCYPQ may trade at a slight discount since the trustee will be eligible to receive reimbursement of Extraordinary Expenses prior to any distribution to certificate holders. Extraordinary Expenses will arise from efforts to protect certificateholders.
This is a thinly-traded issue. There were only 1,303,000 CorTS certificates issued. There are no market makers in this security. It is not listed, traded or quoted on any stock exchange, the OTCBB or the Pink Sheets. Trades in grey market stocks are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult.
Three Month Chart:
GM Filing Date Forward Chart:
To obtain pricing data for MTLQ.GF / CUSIP:370442AV7, click below:
http://cxa.marketwatch.com/finra/BondCenter/BondDetail.aspx?ID=MzcwNDQyQVY3
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |