cottonisking
12時間前
⭐️⭐️⭐️⭐️⭐️ Adebayo Ogunlesi
Group Office of the Chairman
Teams Chairman & Chief Executive Officer (CEO)
Location North America
Bayo Ogunlesi is a Founding Partner and the Chairman and Chief Executive Officer of Global Infrastructure Partners (GIP). He is a Senior Managing Director of BlackRock and a member of the firm’s Global Executive Committee (GEC) and its Board of Directors.
Prior to the formation of GIP in 2006, Mr. Ogunlesi spent 23 years at Credit Suisse where he held several senior positions, including Executive Vice Chairman and Chief Client Officer of its Investment Banking Division. From 2002 to 2004, he was Head of the Global Investment Banking Division and a Member of the Executive Board and Management Committee.
Previously, Mr. Ogunlesi was an attorney with the New York law firm of Cravath, Swaine & Moore. He also served as a Law Clerk to the Honorable Thurgood Marshall, Associate Justice of the U.S. Supreme Court. He has been a Lecturer at the Harvard and Yale Law Schools and the Yale School of Management where he taught courses on transnational investment projects.
Mr. Ogunlesi holds a B.A. (First Class Honors) in Politics, Philosophy and Economics from Oxford University, a J.D. (magna cum laude) from Harvard Law School and an M.B.A. from Harvard Business School. He is a member of the Boards of Directors of BlackRock, OpenAI, Topgolf Callaway Brands, Kosmos Energy Holdings and Terminal Investment Limited. He was previously the Lead Director of Goldman Sachs Group. He is a Member of the Dean’s Advisory Boards of the Harvard Law and Business Schools and the Harvard University Global Advisory Council.
Return to team
ABOUT
ENERGY TRANSITION & SUSTAINABILITY
PORTFOLIO
TEAM
NEWS
CAREERS
CONTACT US
A leading infrastructure investor.
GIP 2025. All rights reserved.
Manage Cookies
Privacy Policy
Terms of Use
Additional Disclosures
Electronic Communications Disclaimer
LinkedIn
Employee Login
LP Access
cottonisking
13時間前
🐎🐎🐎 NEW YORK – October 1, 2024 – BlackRock, Inc. (NYSE: BLK) and Global Infrastructure Partners (“GIP”) announce the successful completion of BlackRock’s acquisition of GIP. The combination creates an industry leader in infrastructure across equity, debt and solutions – providing a diverse range of infrastructure sector expertise and exposure across developed and emerging markets. The combined infrastructure platform will be branded Global Infrastructure Partners (GIP), a part of BlackRock. GIP will continue to be led by Bayo Ogunlesi and the Office of the Chairman. With approximately $170 billion in AUM, the platform will field a 600-person strong global team that manages a diversified portfolio of more than 300 active investments with operations in over 100 countries. With this combination, BlackRock consolidates over $100 billion of private markets AUM, and approximately $750 million of run rate management fees, boosting private markets AUM by approximately 40% and expanding run rate revenues.
https://www.blackrock.com/corporate/newsroom/press-releases/article/corporate-one/press-releases/blackrock-completes-acquisition-of-global-infrastructure-partners
Will Brilliant is a Partner of Global Infrastructure Partners (GIP). He serves as the firm’s Global Head of Digital Infrastructure and is a member of GIP’s Investment Committee and Operating Committee. Mr. Brilliant is based in New York and is responsible for overseeing GIP’s digital infrastructure investment activities globally, including data centers and telecommunications infrastructure.
Prior to joining GIP in 2007, Mr. Brilliant was an investment banker in the Global Financial Sponsors Group at Lehman Brothers.
Mr. Brilliant currently serves on the board of directors of CyrusOne, Vantage Towers’ holding company and Hess Infrastructure Partners. He also serves as Chair of the Board of Directors of Make-a-Wish Metro New York and is a member of the University of California at Los Angeles (UCLA) Social Sciences Dean’s Advisory Board.
Mr. Brilliant holds a BA in Economics from UCLA and an MBA from the Wharton School of the University of Pennsylvania.
Return to team
ABOUT
ENERGY TRANSITION & SUSTAINABILITY
PORTFOLIO
TEAM
NEWS
CAREERS
CONTACT US
A leading infrastructure investor.
GIP 2025. All rights reserved.
Manage Cookies
Privacy Policy
Terms of Use
Additional Disclosures
Electronic Communications Disclaimer
LinkedIn
Employee Login
LP Access
https://www.global-infra.com/team-page/will-brilliant/
goodietime
18時間前
Docket # 61756
Filed Mar 05 2025
Certificate of Mailing of Claims Agent (related document(s)[61748]) filed by Epiq Corporate Restructuring, LLC.(Garabato, Sid)
Debtor 08-13555 Lehman Brothers Holdings Inc.
https://dm.epiq11.com/case/lbh/dockets/61756?debtorId=1906
Docket # 61757
Filed Mar 05 2025
Certificate of Mailing of Claims Agent (related document(s)[61754]) filed by Epiq Corporate Restructuring, LLC.(Garabato, Sid)
Debtor 08-13555 Lehman Brothers Holdings Inc.
https://dm.epiq11.com/case/lbh/dockets/61757?debtorId=1906
Docket # 61758
Filed Mar 05 2025
Certificate of Mailing of Claims Agent re: Notice: Filing of Transfer of Claim Pursuant to Federal Rule of Bankruptcy Procedure 3001(e)(2) or (4) (related document(s)[61724], [61719], [61688], [61728], [61686], [61718], [61723], [61750], [61727], [61711], [61721], [61731], [61725], [61698], [61726], [61746], [61734], [61738], [61716], [61730], [61717], [61733], [61732], [61704], [61722], [61735]) filed by Epiq Corporate Restructuring, LLC.(Garabato, Sid)
Debtor 08-13555 Lehman Brothers Holdings Inc.
https://dm.epiq11.com/case/lbh/dockets/61758?debtorId=1906
cottonisking
2日前
Continue:
An investment group led by BlackRock, a giant American asset manager, said it had agreed to buy two ports in Panama owned by a Hong Kong company that had become the focus of the tensions between Panama and Mr. Trump.
BlackRock will buy the ports, which sit at either end of the canal, and over 40 others from the Hong Kong conglomerate, CK Hutchison, for about $19 billion. Though Mr. Trump has other complaints about the canal — it charges too much, he contends — the deal greatly relieves pressure on Panama, political analysts said.
https://www.nytimes.com/2025/03/04/business/blackrock-panama-canal-ports-hutchison.html
cottonisking
2日前
🚢🚢🚢 More on our BlackRock Connections:
The Hong Kong-based conglomerate that operates ports near the Panama Canal has agreed to sell shares of its units that operate the ports to a consortium including BlackRock Inc., after President Donald Trump alleged Chinese interference with the operations of the critical shipping lane.
In a filing, CK Hutchison Holding said Tuesday that it would sell all shares in Hutchison Port Holdings and all shares in Hutchison Port Group Holdings. The two units hold 80% of the Hutchison Ports group that operates 43 ports in 23 countries, including two of the four major ports that exist along the Panama Canal. The deal will give the BlackRock consortium control over 43 ports in 23 countries, including Mexico, the Netherlands, Egypt, Australia, Pakistan and elsewhere.
https://www.cbsnews.com/amp/news/blackrock-panama-canal-deal-ck-hutchison-trump/#amp_tf=From%20%251%24s&aoh=17411259384489&csi=0&referrer=https%3A%2F%2Fwww.google.com
cottonisking
3日前
Your Broker can give you a free 'Card' for distributions:
Before any distribution for the Plan Trust's single common share, LBHI should restore our personal stock shares back to our broker accounts as these brokerage accounts existed in April of 2012 with LBHI's common and preferred stock Escrow Markers and let the brokers file the W9, W8 or OFAC.
LBHI's capital trust Securities holders' with a broker-
93. Do I need to fill out a tax form and OFAC form if the claim for my debt securities was
originally filed by the indenture trustee?
Holders of debt securities issued by LBHI for which an indenture trustee is the claim holder do not
need to provide to the Debtors a tax form or OFAC Certification in order to receive a distribution.
The Indenture Trustees are required to provide such forms.
94. Do I need to resubmit my tax and OFAC forms in order to re
Stock holders' with a broker -
71. If a distribution is made to former stockholders (now holders of beneficial interests in the
LBHI Plan Trust), how will I know?
If you held your Class 12 Interests in a brokerage account, the distribution will be deposited into
your account. If you held your Class 12 Interest as a registered holder in your own name,
notification will be made.
cottonisking
3日前
We do not hold the 'cards' and 'time' is not on our side:
Thank you for your email.
The chapter 11 plan confirmed by Bankruptcy Court in 2011 (the “Plan”) cancelled all outstanding LBHI stock (including the preferred stock) and the Plan Trust Stock (as defined in the Plan) was issued to the LBHI Plan Trust for the benefit of all former LBHI stock owners consistent with their former relative priority and economic entitlements. Therefore, regarding the preferred LBHI stock you owned pre-bankruptcy, you now have an interest in the LBHI Plan Trust. Pursuant to the Plan, in the event that all Allowed Claims (as defined in the Plan) in LBHI Classes 1 through 11 have been satisfied in full in accordance with the Bankruptcy Code and the Plan, former holders of LBHI equity interests may receive its share of any remaining assets of LBHI consistent will all rights and priorities existing immediately prior to the commencement of the chapter 11 cases through the LBHI Plan Trust.
At this time, it is not anticipated that any distribution will be made to the LBHI Plan Trust or to any beneficiary of the LBHI Plan Trust. Therefore, it is not necessary for you to submit a W9 and OFAC form.
Regards,
.
.
.
89. What happens if I do not submit my tax and OFAC forms in time?
If Epiq does not receive properly completed tax and OFAC forms within 180 days after the
request for such forms were made, your will have irrevocably forfeited that distribution.
cottonisking
5日前
Fritz603, this is all about LBHI treating the Plan Trust's Beneficiaries fair in 2025:
Basis:
🦖WHEREAS, pursuant to orders issued on November 14, 2014 and March 6, 2017, the
Bankruptcy Court extended the term of the Plan Trust to December 6, 2017 and December 6,
2020, respectively;🦖
WHEREAS, the Trustees have reviewed and considered the terms and conditions of the
Plan and the Plan Trust Agreement, and deemed it advisable and in the best interests of the Plan
Trust to approve an amendment to the Plan Trust Agreement substantially in the form attached
hereto as Exhibit A in order to extend the term of the Plan Trust for another five (5) years to
💋December 6, 2025 (the “Plan Trust Amendment”);
WHEREAS, pursuant to section 8.1 of the Plan Trust Agreement, the Plan Trust
Agreement may be amended by the affirmative vote of two-thirds of the Trustees.
NOW THEREFORE, BE IT:
RESOLVED, that the Plan Trust Amendment, together with any non-material
amendments or modifications approved by the Authorized Person (as defined below), is hereby
unanimously approved in all respects, and declared advisable,👉️ fair 👈️to and in the best interests of
the Plan Trust and its beneficiaries; and be it
08-13555-scc Doc 60748 Filed 07/24/20 Entered 07/24/20 21:12:57 Main Document
Pg 47 of 60
real777mellon
5日前
Ron... Thank you for that WSJ article. Everyone - don't forget you are incredible to be here:
In Oct 2, 2008 - Dick Fuld on capitol hill I remember made a brilliant point that I of course only watched about 5 years ago for the first time and really have studied since. He was asked to make some suggestions and one was glaring - I will paraphrase but:
Do not change the accounting standards during a temporary period of dried up credit. He was talking about FAS 157 that the FASB imposed in Nov 2007 and also the "scare" that began with the EU and BNP Paribas saying they couldn't value CDOs in summer 2007. If only they had Fuld on Cap Hill in 2009 once they lifted that FAS 157 mark to market standard from US accounting practices.
Look at that - securitized-debt has performed WELL, over time.
Wait until people realize how well protecting corporate assets and investors long term maturity securities/bonds can provide even MORE confidence in the coming revision of history to a truth known to more than just 10,000 bankers and financial sector workers in Vegas. So much power in deregulation and also trust that no - the BANKS aren't the problem. Some acted in collusion. But that is never going to be possible again. There's also MANY good people in finance, banking, lending, accounting, legal guidance - all parts of financial sector. My Dad was a community banker. He never liked the regulators even though he was a bare bones and responsible local institution serving an area that needed a bank for lending and lower rates than the Chase across the street because he knew he could make less profit but still gain customers to make up for it. 2015 finally got him. But he got to sell and not let the regulators take him out. The sad thing is the bank moved on from that town - what a ride.
real777mellon
5日前
Data points;
~1998, Community Reinvestment Act legislation by the ACORN Community Organizer BO.
CRA forced the WMB, F&F to load to unqualified applicants.
To reduce their exposure ‘we’ moved the loads into securitized Trusts backed by Derivative Contracts which are insurance to cover the Trusts losses. Therefore no monetary exposure to mortgages losses.
‘We’ only had to resupply the Trust with an equal mortgage into the trust. WMB had ~$30 Billion in mortgages to resupply the Trusts.
~from 1999-2007 for the Derivative Contract writer, it was all free money, until the story changed.
Real, you’re my favorite poster because you’re one of the few people that understands the Derivative Market.
What your saying being true (I take your word for it) - Lehman Brothers and Fuld built themselves a damn fireproof fortress because they saw the people trying to burn the entire city down with each of these moves to try and counter the attempt to torch confidence in the instruments which he used responsibly to imo - protect his CRE that everyone criticized him for to use trust law and legal/accounting global practices to keep things out of reach from these cronies and also knowing that there's going to be a chance that the market gets over the dried up credit for bank to bank lending... the stupid attempt by regulatory agencies to call his assets illiquid and make him use a period of less than 6Q to go from FAS 157 is the rule to we are removing FAS 157 to make it easier for these recovering institutions to use the old book keeping and spur "lending" and "growth"...
I think your experience is invaluable. I keep finding more reasons to believe that Lehman was a target #1 and the abuse and also the ability to lie and take Fannie and Freddie prisoner was an attempt to get away with an actual coup of the United States for good by some very evil people but also very stupid. The thing is - I think Trump coming along was incredible because the people may have never woke up enough to at least know something about our public sector was seriously wrong. The second election he's come back with most likely the group of folks in your sector that knew what happened but found a leader to rally behind to carry out the resistance and ultimately - even without the people knowing - that WSJ article sure makes me think the world financial sector and legal/accounting firms - not to mention an all-star Trump Cabinet and staff means we are literally going to have so much success and growth that people like yourself have all saved the world by just not giving in to tyrants that you saw in real time. For me it just seemed like my responsibility. I also felt like the more I saw great people who didn't submit or can't take money from a foreign entity to be corrupted or just how many great innovative people who played by the rules got screwed were still out there and one such friend of mine I've made became an entrepreneur - after Lehman go figure.
The good guys are those people like yourself sharing this for no $ on Web 1.0 financial boards and all the way up to people like Scott Bessent - no matter what the power you wield or level of success - information and sharing it for no gain of your own is truly what makes humanity worthwhile when people have died poor and homeless and their loved ones have no idea why.
Money is not evil - taxation and collusion to steal the constitutional rights of your people because you control the law and have enough of the media to pull it off is truly heartless and beyond horrible.
But I smile because even though I really only became good enough to see this type of stuff by around 2019 - my 4th year just night and day focusing on finding my value and finding truth and learning... It's still been the longest 6 years of my life because its so hard to have seen things for what it was and live with the burden that there's just so much horrible mind manipulation and people being treated like shit without knowing why. When you see that every day - I just don't know. I am happy. I know it's over. I know people even that don't invest are going to have relief and happiness because anything beats the hell of 17 years in the dark.
Transparency of our government has been top notch since Jan 20. I think our Treasury Secretary is on an interview or in the news everyday giving us exactly what he is doing to change course. President Trump - they say he doesn't listen but look at him listening to Scott Bessent and making calls to John Paulson while still being the tough transparent leader we need who doesn't care how the spin looks - he brings peace he is ALSO someone imo, that has been working and listening to the best of the best advisors and people who became part of his cabinet and exec branch even since the day he left in 2021. I believe that. He's the CEO of the Free World. Far different than the King of Globalism. Trump listens to the people - and his advisors and his advisors are in touch with the people.... So we are in fantastic shape. The future is ours my friend!
Ron
real777mellon
5日前
YES! Mark to Market FAS 157 by the stupid FASB changing the late 2007 accounting practices. What I didn't know until late is right away by 2009 FAS 157 was REVOKED and the financial institutions could use their old book value for "illiquid" assets/et "to help them recover from the crisis"... That's INSANE. It's like changing the rules of the game when you're losing, then changing them back because you can't win yourself in the long run. But forcing CH 11 - that is the beauty of this. Lehman Brothers definitely protected its assets and the structured "trusts" and incorp is why I am not even waiting for a miracle for the process to reveal itself. If Chase as property trustee wasn't making a killing from the account they have for these four DST packed with CRE exposure that is not even going to have "valuation" or appraisal problems with accounting plus by protecting the assets - JPMorgan Chase has probably made a fortune and then some for 17 years by providing any services to manage these entities exempt from any of the BS if Fuld left them unprotected. I am more bullish everyday. JPM may have tried to swallow Lehman - but Jamie Dimon isn't gonna dissolve a global collection of 17 years in fees for management etc of billions of $ in high end real estate worldwide. I think it's possible Dimon would've loved to take out Lehman, but I also know he is the ultimate pragmatic decision maker. I imagine it's been great business having DST structured with exposure to hundred billion+ in CRE and securities. Just my two cents.
Thanks for the compliment btw. I seriously enjoy discussing here it's got ZERO of the garbage from the government, foreign, and grift that want Fannie and Freddie to remain kicked down the road until they figure they could just either kill the President or somehow win the last one after all the eyes they opened in just 4 years.
I think that all of the law you are hitting on with derivatives is going to have a point where our deregulation (like the CFPB not harassing our banks so lending is done and corporate debt is the choice of investors when our Treasury Sec is a genius and I have heard him say with 2008 - it's time to take the handcuffs off the banks (CFPB adios- Basel III endgame? Go ahead EU - we're out) and then the derivatives. There is not a chance in hell our deregulation as well as the accounting/law license granted for the first time to the UK's KPMG in the state of Arizona by their supreme court to provide legal guidance as well as accounting that kind of goes hand in hand don't you think? KPMG US now can provide it's US clients with guidance on legal practices. I think we're gonna see courts not be able to kick the can down the road like they did for 13 years! with LBIE v AGFP because the judges are installed by the Government admin that wants us to just sit here and take it. No, screw that. We're on the brink of the start of the next gilded age and Bessent calling himself "America's Treasury Bond salesman" is a MESSAGE that we're getting off this bogus cycle of taxpayers being crippled to service interest pay on this insane debt and instead we're giving money and confidence to the private sector and if I recall - did the Gilded Age not exist because of private ventures and did not the post WW2 growth occur because we were financial innovators that still believed in the private sector and not an overall shadow 4th branch of regulators telling us what the law was? The Constitution is the law of the land. Trust law is definitely welcome. Escrow is welcome. Equitable law is welcome. I think people confuse the UK with their horrible PM, their Globalist "King" and their London Mayors. But the CITY OF LONDON could possibly be the biggest financial gift to compliment the US in this revival as people don't realize it's not greed nor is it a part of London and even the jackass King has to wait at the entrance to be let in by the Lord Mayor. Well dammit, If anyone is wondering why things in the UK are aimed at LBIE and LBH coming out as an ongoing process and not to kill them - its because the laws there are still honored as is the Corporate status of the City of London. We already have a wonderful place where American capitalist and banking practices (30 Y fr mortgages for one) and UK accounting/legal practice keeps even the service workers happy and not resenting the wealthy there because they properly manage the investment and make businesses operating there hire citizens first. External operations no worry. Cayman. Love Cayman. Make America the best of both. Let's stop hating private sector wealth creators and successes. Thanks again.
ron_66271
5日前
Short Answer, TBTF FAILED.
Days Leading to September 14th, 2008.
Money wire transfers out of US securities like mad.
~$600 Billion in four hours.
The wire transfer gateway were shutdown.
JPM had no cash to cover JPM’s ~$17 Billion agreement to loan Lehman’s ‘mark to market’ so Lehman’s could close the day’s Books.
Therefore Lehman’s was forced into bankruptcy.
Data points;
~1998, Community Reinvestment Act legislation by the ACORN Community Organizer BO.
CRA forced the WMB, F&F to load to unqualified applicants.
To reduce their exposure ‘we’ moved the loads into securitized Trusts backed by Derivative Contracts which are insurance to cover the Trusts losses. Therefore no monetary exposure to mortgages losses.
‘We’ only had to resupply the Trust with an equal mortgage into the trust. WMB had ~$30 Billion in mortgages to resupply the Trusts.
~from 1999-2007 for the Derivative Contract writer, it was all free money, until the story changed.
Real, you’re my favorite poster because you’re one of the few people that understands the Derivative Market.
Ron
real777mellon
5日前
I'd rather hear you do a write up on it than me because everything you've shared is 100% and I've had to really look deeply for years to even understand what you've been able to share here. Thank you.
KPMG just got an Arizona Supreme Court ruling that gave it a US legal license. I think that's MUCH needed. There's been corruption by our government and collusion of course. But there's definitely lawyers in the City of London and private sector titans as there are here that are not gonna let this go. Trump had to win this election - but he did. Which is amazing because think about how the US government would've just kicked the can down the road for eternity had he not. Fuld and Lehman did a great job setting this up completely private sector driven - never had a bailout - and also... Never donated to politicians. Fannie and Freddie were getting robbed by Hillary Clinton and others on both sides of the gov't for contributions per Oct 2, 2008 when Fuld was on Capitol Hill. Fuld said that Lehman had contributed $30,000. Then their "PAC" when the question was raised was like $100,000 one year in 2004 for the election.
Lehman got taken out because they pissed off Goldman for leveraging and their global litigation is just so well protected - notice the exemptions I finally found for all the CRE they blamed Fuld for buying. Well you can't take shit when it's not legally LBHI owned can you? Trust Law WORKS. DST's are brilliant. I see BRILLIANT financing and securitization. That's all I see here. I am at my wits end the more I learn to blame folks for CAPITALISM and financial innovation. We all know the truth or enough of it. Lehman Brothers will be remembered as much as this administration for how you fight back from tyranny, collusion, and protect yourself with innovative structures and ones that did securitize the ownership of projects and large scale development that imo - would've been just fine without the most Keynesian intervention I have ever seen in mass scale. Being a billionaire is not bad. If you conquered capitalism, you spurred bank profits by borrowing, and you created products like securities that many could invest in to keep a cycle going without the government taxing then giving you whatever crap they want to call "housing" or "vouchers" - I choose Lehman Brothers 10x out of 10 by a mile.
People will learn that we all can start aspiring to become investors and asset owners so our government can't crash it and burn it to blame those who create wealth. Truth needs to come out.
real777mellon
6日前
So since Delaware Statutory Trust companies are formed for purpose of investing in investment grade, usually accredited investor type CRE properties - Maybe at least some of these commercial real estate properties that I found a list of exempt from the CH 11 (our DST issuer we have our TPS shares in are on it) -- maybe take a look and see some of those cash payouts that are coming if they even kept 1/10 of those properties will make sense why these maturities are like 50 years! =P
https://document.epiq11.com/document/getdocumentbycode/?docId=1320846&projectCode=LBH
Perhaps that's why these four offerings were only to accredited investors and had so many damn underwriters for their IPO. From 2001-2005 I heard all Dick Fuld was doing was buying tons of illiquid commercial real estate and everyone said he was not stopping up through the end days. :) Exempt means "asset protection" when I'm thinking of trust law - and the management etc below fits the bill:
The DST ownership option essentially offers the same benefits and risks that an investor would receive as a single large-scale investment property owner, but without the management responsibility. Each DST property asset is managed by professional investment real estate asset managers and property managers. It used to be that only large institutional investors such as life insurance companies, pension funds, real estate investment trusts (REITS), college endowments and foundations were able to invest in these properties. Now as a viable 1031 exchange replacement property option through a DST, individual investors have the ability to invest in a diversified selection of institutional quality, investment property types that they otherwise could not purchase individually. DST Investments are located throughout the United States. Property types may include multifamily apartment communities, office buildings, industrial properties, multi-tenant retail, student housing, assisted living, self-storage facilities, medical office, single tenant retail properties and others .[4]
cottonisking
1週前
🦖🦖🦖 WEIL:\97521852\8\58399.0011
UNANIMOUS WRITTEN CONSENT
OF
THE TRUSTEES
OF
THE LEHMAN BROTHERS PLAN TRUST
The undersigned, being all of the trustees (the “Trustees”) of the Lehman Brothers Plan
Trust (the “Plan Trust”), hereby consent to adopt and approve the following resolutions and
each and every action effected thereby:
WHEREAS, on September 15, 2008 and periodically thereafter, Lehman Brothers
Holdings Inc. (“LBHI”), together with certain of its subsidiaries (collectively, the “Debtors”),
commenced cases under chapter 11 of title 11 of the United States Code by filing voluntary
petitions for relief with the United States Bankruptcy Court for the Southern District of New
York (the “Bankruptcy Court”);
WHEREAS, the Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings
Inc. and its Affiliates (the “Plan”) was confirmed by the Bankruptcy Court on 🐰December 6,
2011;
WHEREAS, LBHI and the Trustees entered into a trust agreement, effective as of
🐰March 6, 2012, setting forth the terms and conditions that govern the Plan Trust (the “Plan
Trust Agreement”);
WHEREAS, pursuant to the Plan Trust Agreement, 🦥 all of the common and preferred
stock of LBHI was cancelled and one new share of LBHI common stock was issued to the Plan
Trust;
🦖WHEREAS, pursuant to orders issued on November 14, 2014 and March 6, 2017, the
Bankruptcy Court extended the term of the Plan Trust to December 6, 2017 and December 6,
2020, respectively;🦖
WHEREAS, the Trustees have reviewed and considered the terms and conditions of the
Plan and the Plan Trust Agreement, and deemed it advisable and in the best interests of the Plan
Trust to approve an amendment to the Plan Trust Agreement substantially in the form attached
hereto as Exhibit A in order to extend the term of the Plan Trust for another five (5) years to
💋December 6, 2025 (the “Plan Trust Amendment”);
WHEREAS, pursuant to section 8.1 of the Plan Trust Agreement, the Plan Trust
Agreement may be amended by the affirmative vote of two-thirds of the Trustees.
NOW THEREFORE, BE IT:
RESOLVED, that the Plan Trust Amendment, together with any non-material
amendments or modifications approved by the Authorized Person (as defined below), is hereby
unanimously approved in all respects, and declared advisable,👉️ fair 👈️to and in the best interests of
the Plan Trust and its beneficiaries; and be it
08-13555-scc Doc 60748 Filed 07/24/20 Entered 07/24/20 21:12:57 Main Document
Pg 47 of 60
cottonisking
1週前
Quarterly Financial Report as of October 3, 2024 (Unaudited)
Page 5
Estimated Remaining Creditor Recoveries
The following schedule shows the estimated remaining creditor recoveries from LBHI by claim class, based on the
“Estimated Cash Available for Distributions” in the preceding table on page 4. The estimated remaining recoveries
on page 4 and the schedule below do not include potential recoveries from the Excluded Recoveries (See Note 4 –
Legal Proceedings).
(1) Estimated Recovery percentages are calculated based on recoveries of Allowed Claims Eligible for Distributions
as reported on Exhibit B of the 29th Distribution Notice filed on September 26, 2024. For purposes of this
calculation:
a. Allowed Claims exclude (i) claims against LBHI satisfied in full through the combination of the primary
obligor and guarantee distributions from LBHI, and (ii) previously Allowed Claims that have been
withdrawn.
b. Allowed Claims Eligible for Distributions exclude Allowed Claims that LBHI owns against itself.
(2) The 29th Plan Distribution occurred on October 3, 2024 (“D29”). Through D29, the Debtors have made
distributions to creditors👉️ totaling $129.3 billion,👈️ of which $96.2 billion were payments on account of claims
owned or formerly owned by third party creditors.
(3) The last remaining Disputed Claim is a Class 9A – Third Party Guarantee Derivative claim relating to a primary
claim held by Enasarco against Lehman Brothers Finance S.A. (“LBF”). LBHI has entered into a stipulation
such that the allowed amount of this Class 9A claim will be based on the outcome of LBF’s litigation against
Enasarco in Switzerland, subject to a cap. LBHI has reserved for the full potential obligation under this
agreement, including corresponding Plan Adjustments and interest calculated pursuant to the Plan, entirely in
cash. See Note 4 – Legal Proceedings – LBF – Enasarco for further information.
Estimated Future Recoveries
($ in millions)
Lehman Brothers Holdings Inc.
Allowed Claims
Eligible for
Distributions (1)
Estimated
Remaining
Recovery
Estimated
Remaining
Recovery % as
of 10.03.24
Actual Recovery
% Thru D29 (2)
Estimated
End of Case
Recovery %
Class Designation $ $ A B = A + B
3 Senior Unsecured $ 82,521 $ 128 0.155% 46.675% 46.830%
4A Senior Affiliate Claims 33,537 46 0.136% 37.605% 37.741%
4B Senior Affiliate Guarantee 9,521 13 0.133% 36.696% 36.829%
5 Senior Third-Party Guarantee 30,555 33 0.106% 29.361% 29.467%
7 General Unsecured 4,930 7 0.144% 43.693% 43.837%
8 Derivative Affiliate / Affiliate Guarantee Claims 451 1 0.125% 34.550% 34.675%
9A Third Party Guarantee Derivatives 17,923 18 0.100% 27.637% 27.737%
9B Third Party Guarantee Derivatives RACER's - - 0.061% 16.802% 16.863%
10A Subordinated Class 10A Claims 3,399 - - - -
10B Subordinated Class 10B Claims 10,330 - - - -
10C Subordinated Class 10C Claims 1,493 - - - -
Cash Available for Distributions on Allowed Claims $ 194,660 $ 245
Cash Held on Behalf of Disputed Claims, Net (3) 12
Estimated Cash Available for Distributions $ 257
08-13555-mg Doc 61706 Filed 11/26/24 Entered 11/26/24 12:50:23 Main Document
Pg 5 of 16
Hot Features
プレミアム
登録してリアルタイムのアラート、カスタムポートフォリオ、市場の動きを入手してください。
JERSEYHAWG
7時間前
s404n1tn0cc
4日前
bluebird50
4日前
okwife
1週前
