Thread by @real777mellon

@threadreaderapp @Ova_Wit_lol @GavinClimie Shall we continue? The US Bankruptcy Court Judge in Manhattan on Friday Sep 19, 2008 was essentially forced to approve an agreement unprecedented and possibly not entirely legal (post 9/11) because foreign-bank, HQ in London, Barclays Plc was the only viable rescue buyer in 9/08

@threadreaderapp @Ova_Wit_lol @GavinClimie The LBHI company core assets sold in less than a week. LBHI had however pre-shopped some of its assets, like Neuberger Berman Asset Management in summer 2008 for raising cash. Still acting quick on selling LBHI's CH11 assets was imperative with value crashing fast since 9/15/08

@threadreaderapp @Ova_Wit_lol @GavinClimie

@threadreaderapp @Ova_Wit_lol @GavinClimie Interesting, looks like the Lehman UK/European proceedings began earlier than the CH 11 filing for LBHI in the USA and on 9/12/08 $8B was trans to the USA Lehman (LBHI) so it would freeze in CH11 filed 3 days later 9/15/08 in the US out of the UK/European recovery reach #Lehman

@threadreaderapp @Ova_Wit_lol @GavinClimie Where would $8B be today? If it was never recovered in Europe. And perhaps, just perhaps, these many holes in the old beginnings of Lehman's catalyst for the 2008 crisis when filing CH11 are starting to fill back in - because this is retrospective clarity.

@threadreaderapp @Ova_Wit_lol @GavinClimie Wrapping up. Interesting to me is the Barclay's plc UK acquisitions of Lehman's S. American named entities as well as the now Chap 7 exited (9/28/2022) LBHI subsidiary LBI and it's $20 B of securities assets LBHI owned in LBI.

@threadreaderapp @Ova_Wit_lol @GavinClimie Source: reuters.com/article/rbssFi…

Always Always Always review the past.

@threadreaderapp @Ova_Wit_lol @GavinClimie The US bankruptcy court judge from manhattan who approved the CH 11 plan for LBHI and also approved the agreed sale of Lehman's assets and accounts, etc. to Barclays plc in the UK on Sep 19, 2008 is now working at a law firm and in blockchain and smart contracts? um wtf? #MoFo

@threadreaderapp @Ova_Wit_lol @GavinClimie @threadreaderapp unroll