cottonisking
6 hours ago
Successors:
EXECUTION VERSION
28
which the 7(f) Application Settlement will become unconditionally effective), all
conditions to its effectiveness have been satisfied.
9. NO ADMISSION
This Agreement is not, and shall not be represented or construed by the Parties as, an
admission of liability or wrongdoing on the part of any Party to this Agreement or any other
person or entity.
10. AUTHORITY
Each Party warrants and represents that it has capacity, power and authority to enter into,
execute and perform this Agreement.
11. SUCCESSORS
11.1 GP1 shall not at any time assign, transfer or dispose of its interest in the PLC Sub-Notes
without the prior written consent of the Parties.
11.2 LBHI shall not assign, transfer or dispose of its interest in the PLC Sub-Debt:
(a) on or before 15 December 2024, in any circumstances; and
(b) on and from 16 December 2024, unless:
(i) the 👉️ assignee or transferee 👈️of LBHI’s interest agrees to be bound by the
terms of this Agreement; and
(ii) each of GP1 and DB (in the case of DB, only if it then holds 10% or more
of the ECAPS in issue) have consented to such assignment or transfer,
such consent not to be unreasonably withheld or delayed. LBHI, GP1 and
DB each agree that it shall not be reasonable to withhold or delay consent
if the proposed transfer, assignment or disposal by LBHI of the PLC Sub-
Debt is for value, save for if there is a genuine demonstrable risk that the
assignment or transfer could undermine this Agreement or that the
proposed assignee or transferee intends to breach, undermine or take
action inconsistent with this Agreement.
11.3 DB shall not assign, transfer or dispose of its interest in the ECAPS, including the ECAPS
Deeds of Guarantee, unless the 👉️ relevant assignee or transferee 👈️ has agreed to be bound
by the terms of this Agreement as if it were DB.
11.4 If at any time after the Effective Date DB acquires any right, title and interest to any
additional ECAPS or ECAPS Deeds of Guarantee, then such additional holdings or
interests shall be subject to the terms and conditions of this Agreement as if DB held such
right, title and/or interest on the Effective Date.
12. PLC ESTATE – INFORMATION AND REPORTING REQUIREMENTS
12.1 Creditors’ committee observer
cottonisking
15 hours ago
Docket # 61737
Filed Jan 16 2025
Transfer Agreement FRBP. Transfer Agreement 3001 (e) 2 Transferors: CARVAL GCF LUX MASTER S.A.R.L. (Claim No. 18076, Amount $199,751,522.90); CARVAL GCF LUX MASTER S.A.R.L. (Claim No. 27811, Amount $11,250,000.00); CARVAL GCF LUX MASTER S.A.R.L. (Claim No. 18850, Amount $7,500,000.00); CARVAL GCF LUX MASTER S.A.R.L. (Claim No. 18967, Amount $7,200,000.00); CARVAL GCF LUX MASTER S.A.R.L. (Claim No. 21894, Amount $6,250,000.00); CARVAL GCF LUX MASTER S.A.R.L. (Claim No. 27839, Amount $1,350,000.00); CARVAL GCF LUX MASTER S.A.R.L. (Claim No. 27947, Amount $2,655,000.00) To 👉️Banc of America Credit Products, Inc. filed by Joshua Dorchak on behalf of Banc of America Credit Products, Inc.. (Dorchak, Joshua) Less
Case Number 08-13555 Lehman Brothers Holdings Inc.
cottonisking
16 hours ago
Finance
Bank of America tops estimates on better-than-expected investment banking, interest income
Published Thu, Jan 16 20256:15 AM ESTUpdated Thu, Jan 16 20259:57 AM EST
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Hugh Son
@hugh_son
WATCH LIVE
Key Points
Bank of America on Thursday posted results that topped expectations for profit and revenue on better-than-expected investment banking and interest income.
The company said fourth-quarter profit more than doubled to $6.67 billion, or 82 cents per share, from a year earlier.
Perhaps more than other megabanks, the firm’s fortunes seem to hinge on rates and their impact on net interest income.
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Bank of America tops estimates on better-than-expected investment banking, interest incomewatch now
VIDEO01:43
Bank of America tops estimates on better-than-expected investment banking, interest income
Bank of America
on Thursday posted results that topped expectations for profit and revenue on better-than-expected investment banking and interest income.
Here’s what the company reported:
Earnings: 82 cents vs. 77 cents expected, according to LSEG
Revenue: $25.5 billion vs. $25.19 billion expected
The company said fourth-quarter profit more than doubled to $6.67 billion, or 82 cents per share, from a year earlier, when the bank had a $2.1 billion Federal Deposit Insurance Corp. assessment tied to the 2023 regional bank failures and a $1.6 billion charge tied to accounting on interest rate swaps.
Revenue jumped 15% to $25.5 billion on rising fees from investment banking and asset management and stronger trading results.
Investment banking fees surged 44% to $1.65 billion, roughly $180 million more than analysts had expected. That indicates the company’s bankers had a strong end to the year, as just last month, CEO Brian Moynihan told investors that investment banking fees would jump 25% in the quarter.
Unlike with rivals including Goldman Sachs
, Bank of America’s trading operations didn’t significantly exceed expectations during the quarter. Fixed income revenue rose 13% to $2.48 billion, roughly in line with the StreetAccount estimate, while equities revenue rose 6% to $1.64 billion, also essentially matching expectations.
But the firm said that net interest income, one of the most watched figures for the lender, rose 3% to $14.5 billion, exceeding estimates by about $170 million.
Perhaps more than other megabanks, the firm’s fortunes seem to hinge on rates and their impact on net interest income. Investors will be keen to hear about the company’s target for 2025, especially as expectations for rate cuts have been reined in.
On Wednesday, JPMorgan Chase
and Goldman topped estimates on better-than-expected results from Wall Street units. Morgan Stanley is also scheduled to post results Thursday.
Correction: Bank of America’s fourth-quarter profit more than doubled to $6.67 billion. An earlier version misstated the move. The company’s equities revenue rose to $1.64 billion. An earlier version misstated the figure.
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https://www.cnbc.com/2025/01/16/bank-of-america-bac-earnings-q4-2024.html
JOVI
23 hours ago
Mo. No. 2024-634 Lehman Brothers International (Europe) (in Administration), Appellant, v. AG Financial Products, Inc., Respondent. 1 Mo. No. 2024-655 Lehman Brothers International (Europe) (in Administration), Appellant, v. AG Financial Products, Inc., Respondent. 1 Mo. No. 2024-656 Lehman Brothers International (Europe) (in Administration), Appellant, v. AG Financial Products, Inc., Respondents. Motion for leave to appeal denied with one hundred dollars costs and necessary reproduction disbursements. Judge Garcia took no part.
I don't find your text.
But if i look up te court number.. this the text
cottonisking
2 days ago
🤭🤑🤫 AGFP was working with a modified ISDA contract. Most ISDA contracts are not modified. The New York State Appellate Division and the Supreme Court of the United States (SCOTUS) are both courts that review legal issues, but they have different jurisdictions and functions.
Jurisdiction
New York State Appellate Division
Hears appeals from state trial courts, including the Supreme Court, County Courts, Family Courts, Surrogate's Courts, and the Court of Claims
SCOTUS
Has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve questions of U.S. constitutional or federal law
Function
New York State Appellate Division: Reviews questions of law and fact in civil and criminal cases
SCOTUS: Reviews issues raised on appeal, including whether an issue was preserved by the appellant
Case law
New York State Appellate Division: Generally decides issues of law, not issues of fact
SCOTUS: Case law is based on judicial decisions, which are concerned with 👉️unique disputes resolved by courts using the concrete facts of a case
JOVI
2 days ago
OTICE REGARDING OUTCOME OF CERTAIN NEW YORK STATE LITIGATION On January 14, 2025, the Court of Appeals of the State of New York denied a motion of Lehman Brothers International (Europe) (in Administration) (“LBIE”) for leave to appeal a decision of the Appellate Division of the Supreme Court of the State of New York that affirmed a decision of the New York Supreme Court in favor of AG Financial Products Inc. against LBIE. See Lehman Bros. Int’l (Eur.) v. AG Fin. Prods., Inc., No. 2024-634, 2025 WL 84273 (N.Y. Jan. 14, 2025). This litigation outcome will have a material adverse effect on the “Maximum Potential Recoveries” but not the “Estimated Recoveries” from Non-Controlled Affiliates disclosed in Lehman Brothers Holdings Inc.’s most recently filed quarterly financial report. See Quarterly Financial Report as of October 3, 2024, ECF No. 61695 at pp. 8, 13.
https://document.epiq11.com/document/getdocumentbycode?docId=4426918&projectCode=LBH&source=DM
cottonisking
2 days ago
Filed Sep 15 2009
Value $10,400,000.00
Claim #12920
Creditor MERRILL LYNCH CREDIT PRODUCTS, LLC
Debtor 08-13555 👉️Lehman Brothers Holdings Inc.
View
Creditor Address
TRANSFEROR: DELL GLOBAL B.V. (SINGAPORE BRANCH)
ATTN: JEFFREY BENESH AND GARY S. COHEN
👉️BANK OF AMERICA TOWER - 3RD FLOOR
ONE BRYANT PARK
NEW YORK, NY 10036
Filed Amounts
Allowed Unsecured
$10,400,000.00
Claimed Unsecured
$13,961,403.74
Current Values
Unsecured Value
$10,400,000.00
Related Dockets
Remarks
👉️Satisfied in Accordance with the Plan
Tax Form Received
OFAC Received
Docket # 21113
👉️Filed Oct 21 2011
Transfer Agreement FRBP Transfer Agreement 3001 (e) 2 Transferors:Dell Global B.V. (Singapore Branch)(Claim No.12920, Amount 25,400,000). 👉️To Merrill Lynch Credit Products, LLC. filed by Thomas T. Janover on behalf of Merrill Lynch Credit Products, LLC.(Janover, Thomas) Less
Case Number 08-13555 Lehman Brothers Holdings Inc.
View
Docket # 21127
👉️Filed Oct 24 2011
Transfer Agreement FRBP Partial Transfer Agreement 3001 (e) 2 Transferors:Merrill Lynch Credit Partners, LLC(Claim No.12920, Amount 15,000,000.00). 👉️To Varde Investment Partners, L.P.. filed by Edward J. Leen on behalf of Varde Investment Partners, L.P..(Leen, Edward) Less
Case Number 08-13555 Lehman Brothers Holdings Inc.
edbk46
3 days ago
Goldman
interesting
slowly slowly the wheel turns
WMI FNMA LEH
https://www.wsj.com/finance/banking/goldman-sees-financing-as-the-future-it-is-rearranging-itself-to-reflect-that-72a22cd7?mod=hp_lead_pos1
Goldman Sachs GS 0.53%increase; green up pointing triangle has ambitions to be one of the biggest players in the increasingly competitive world of financing. Its new structure aims to make that clearer.
The Wall Street giant said Monday it is combining three key groups in its global banking and markets division that work on finding or facilitating various types of financing deals. Goldman plans to call the new group the Capital Solutions Group.
It will include the financial-sponsors team that provides investment-banking services to private-equity firms, the global financing group that finds investors to provide capital for deals and a big chunk of what the company calls its FICC financing team that makes loans tied to collateral to other lenders, including private-credit funds.
It is also creating a team within Capital Solutions that will focus on finding alternative sources of financing, especially for its corporate clients.
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The combined group will remain part of global banking and markets, one of Goldman's two major divisions alongside asset and wealth management.
The Wall Street Journal first reported on Goldman's plans earlier Monday.
The move is a bet by the firm that a large amount of its growth will come from arranging financing, both by facilitating deals through its investment-banking arm and its asset-management business and using its own money to make loans. The unit will also offer other capital-markets services, including equity underwriting.
Private credit, or lending typically done by nonbanks, has exploded in recent years thanks in part to a regulatory push to remove risks from banks and a ravenous investor appetite for such loans. That shift has forced banks including Goldman and JPMorgan Chase to rethink their approaches and find more ways to participate.
Goldman expects the surge in demand for capital to continue. Many on Wall Street anticipate a dealmaking rebound, bringing with it a rush of private-equity activity. Corporate clients are also expected to continue investing in technology and other infrastructure at a rapid clip.
The bank's top brass believes a handful of private-credit firms and similar institutions will soon dominate the debt landscape, people familiar with the matter said. Some of Goldman's fiercest competitors are increasingly sprawling alternative-investment firms such as Apollo Global Management and Ares Management rather than other large banks. At the same time, the bank expects to continue partnering on even more deals with these same firms.
Unlike most banks, Goldman has both an investment-banking arm and a decades-old private-credit arm. For years, its global financing team has either turned to the public markets to provide financing for investment-banking deals or gone through its asset-management division to fund those deals.
Goldman has been seeing a convergence of public and private markets in financing and executives believe the new structure will better position the firm to serve this type of demand.
One particularly fast-growing area is asset-backed lending in its FICC financing unit. Goldman intends to continue to do more of this lending on its balance sheet but could be limited by regulatory constraints. That makes its ability to source capital from the asset-management side of its business even more important.
The new group will help with Goldman's plans to create more funds for insurance companies, pension funds and other clients to invest in those loans.
The Capital Solutions Group will be led by Pete Lyon, who heads the financial institutions and financial sponsors groups in investment banking, and Mahesh Saireddy, who heads mortgages and structured products as part of FICC. In a sign of the importance of the new initiative, Lyon and Saireddy will also join Goldman's management committee, a selective group of the firm's most senior executives that helps set its strategy.
Goldman's top executives have been weighing changes to the committee for more than a year, with the goal of adding executives from top revenue-producing teams, some of the people familiar with the matter said.
Vivek Bantwal, the current head of the global financing group, will move to asset and wealth management where he will co-head private credit along with James Reynolds, who is the head of direct lending.
Miriam Gottfried contributed to this article.
Write to AnnaMaria Andriotis at annamaria.andriotis@wsj.com
cottonisking
3 days ago
Filed Sep 03 2009
Value $34,500,000.00
Claim #10228 Schedule #885003420
👉️Creditor MERRILL LYNCH CREDIT PRODUCTS, LLC
Debtor 08-13885 Lehman Brothers Commodity Services Inc.
View
Creditor Address
TRANSFEROR: LUMINANT ENERGY COMPANY LLC
👉️ATTN: JEFFREY BENESH & RON TOROK
BANK OF AMERICA TOWER - 3RD FLOOR
ONE BRYANT PARK
NEW YORK, NY 10036
Filed Amounts
Allowed Unsecured
👉️$34,500,000.00
Claimed Unsecured
$88,852,848.12
Current Values
Unsecured Value
$34,500,000.00
Related Dockets
Remarks
THIS CLAIM IS ALLOWED
Tax Form Received
OFAC Received
cottonisking
3 days ago
Go Lehman Brothers! 🤑
Super Bad
Song by James Brown
Overview
Listen
Other recordings
Lyrics
Watch me! watch me! I got it! watch me!
I got it! yeah!
I got somethin' that makes me wanna shouta!
I got somethin' that tells me what its all about
Huh! I got soul an I'm super bad
I got soul, huh, and I'm super bad, huh!
Now I got a move that tells me what to do
Sometimes I tease
Now I gotta move that tells me what to do
Sometimes I feel so nice I wanna try
Myself with you, huh! uh!
I got soul and I'm super bad, huh!
I'm a lover, I love to do my thing ha
An a, an I don't need no one eles
Sometimes I feel so nice, good lord!
I jump back, I wanna kiss myself!
I've got soul, huh, and I'm super bad, hey!
I said I'm super bad
Come on, up and down an
Round an round, up and down, all around
Right on people, huh, let it all hang out
If you don't brothers and sisters, then you won't know
Ha! what it's all about, gimme, gimme, gimme, gimme
Gimme, gimme, gimme, yeah!
Uh, come on
I got the somethin' that makes me wanna shout
I got that thing, tell me what it's all about
I got soul, ha, and I'm super bad, heh!
Got the move that tells me what to do
Sometimes I feel so nice, I said
I wanna tie myself to a fuse, huh, I
I, I, I got soul, heh, and I'm super bad
Hit me! up and down and all around
Right on people, heh, let it all hang out
If you don't brothers and sisters, then you won't know
A what it's all about, gimme, gimme, gimme, gimmie
Uh! come on! come on rap it, come on brother
Do the rap it, how about me some trains brother
Hey! gimme!, huh! gimme! uh! gimme, gimme
Some super bad, a super bad brother, ha! heh!
Super bad uh! come on dance it, come on
Super bad, jab, good lord! super bad
Mercy, huh! let me hear ya, super bad
Source: LyricFind
Songwriters: James Brown
Super Bad lyrics © Warner Chappell Music, Inc