Thread by @real777mellon

@Ova_Wit_lol @GavinClimie The link in this thread to Dick Fuld's 2010 statement about the collapse was very defiant about the fact he claims LBHI (the parent of LBI) was "mandated" into filing. And that is the truth. No sane decision to file CH 11 would be made by a company with cash/assets bal sheet.

@Ova_Wit_lol @GavinClimie The most telling thing is while Sep 28, 2022 LBI (the subsidiary and former brokerage arm of LBHI) finished paying off its liquidation - LBHI remains in the LBHI Trust" filing with the SEC regularly and not only that, 332 Million in its 8-K from March 2023 w/o $ ongoinglitigation

@Ova_Wit_lol @GavinClimie

@Ova_Wit_lol @GavinClimie

@Ova_Wit_lol @GavinClimie LBHI and it's affiliates in Chapter 11 because of the parent co "mandated" by govt into filing 9.15.08 according to Fuld transcript from 2010. They gained +16M USD in Q4 from Q3 2022 and are in good financial shape to continue CH11 - that is... REORGANIZE. Keep an eye on "newco"

@Ova_Wit_lol @GavinClimie LBHI and it's "debtors" are also owed $1.954 Billion still from "Non-Controlled Affiliates" they have claims against - one of the major one's being LBH PLC in administration in the UK. A lot of cash comes from "Asia" (specifically Australia) with other's here due from Europe.

@Ova_Wit_lol @GavinClimie TL;DR - Lehman Brothers Holding Inc. - the OG parent company is in very good financial shape and amidst reclaiming/litigating a lot - billions in cash worldwide, and in ongoing litigation so that the CH11 "reorganization" is waiting on recovering all possible cap for restructure.

@Ova_Wit_lol @GavinClimie "Lehman had adequate financeable collateral. Many people, to this 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." -Fuld (1/2)

@Ova_Wit_lol @GavinClimie "In addition, on that Monday, September 15, the day of the (Chapter) 7 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." (Fuld 2/2)

@Ova_Wit_lol @GavinClimie What happened in the September 15, 2008 Bankruptcy filing of parent LBHI is also bizarre. Barclays (UK) bought various accounts/assets of "LB" but they allowed Lehman Brothers Inc. (LBI) subsidiary of the parent to retain $20B in securites assets under LBHI control? ODD.

@Ova_Wit_lol @GavinClimie The judge forced the sale to Barclays plc of London, UK because they were the only offer. VERY unusual and the deal also was for all "North American IB and capital mkt biz" yet the bottom of the article mentions international LB acquisitions were added for Barclays Plc (UK)..

@Ova_Wit_lol @GavinClimie This isn't over. #LBHI #LBHITrust #LehmanBrothersHoldingsCapitalTrustPrefHybridSec4 #Debt #CashFlow #SuspiciousUnprecedentedActions #ReorgNotLiquidation #BackInBiz #Lehman #LehmanBrothers #NotAnIdiot #ReadEverything reuters.com/article/rbssFi…

@Ova_Wit_lol @GavinClimie Lehman European Group and Lehman U.S. (LBI, etc.) - parent for all is LBHI in NYC HQ
have been operating as one. $8B was trapped in Lehman U.S. after it filed CH11 automatically
due to bankruptcy re-org rules/subsidiary liquidations (LBI) via Leh Europe last Friday b4 CH11 freeze

@Ova_Wit_lol @GavinClimie Filings for LBHI Plan Trust acting as the LBHI that files with the SEC has never missed a regular 8-K. Take a look. It'll be back. And a lot of billions are tied up and missing on the 8-K due to (noted in filings) ongoing litigation :) otcmarkets.com/stock/LEHNQ/di…

@Ova_Wit_lol @GavinClimie @threadreaderapp unroll