Lehman Notes - lost everything...

Closed Thread
Page 2 of 9 FirstFirst 1 2 3 4 5 ... LastLast
  1. #11

    Join Date
    Sep 2008
    Posts
    8

    Thanks, well my note is a lot less than $10M, though it is most of my savings [sigh].

    From what you are saying it seems like it is out of my control and there are no buyers, probably the reason why my account manager cannot give me a price. Though I wish he would articulate that reason to me. I even have my chinese speaking friend on the phone as well for him to speak chinese with. All he says is he is still waiting.

    Anyway if I dont have any course of action or decision to make at the moment, all I can do is wait. I was just getting stressed out thinking that other people were selling their bonds and I was not given that option due to my incompetent account manager.

    Anyone know if individuals are treated differently from corporate bondholders?


  2. #12

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    5,585

    apparently in the case of a banking entity chapter 11 still does not allow them to come back for business in those context.

    that's what i heard in cnbc


  3. #13

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    5,585

    et > trust me nobody is quoting on those notes now.

    a week ago (last friday) the indicative prices I heard on the lehman notes were like between 30-40c on the dollar. but that's before the ch 11. now that they have filed, nobody knows what to do and lehman themselves probably are unable to buy it back from you as well..


    trust me your account manager is more lost than u.


  4. #14

    Join Date
    Sep 2008
    Posts
    2

    Similar problem

    I also have a similar problem in 3 year USD Principal Protected Note Linked to Gold issued by Lehman Brothers Treasury Co B.V. Can I expect to get at least some of my capital back or is it totally lost cause? I cannot get any information from my bank apart from 'we have to wait'.


  5. #15

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    5,585

    same answer, nobody knows at this juncture.


  6. #16

    Join Date
    Sep 2008
    Posts
    2

    Thanks. The uncertainty aspect of the situation is almost as annoying as the event itself. And I suppose the uncertainty will not be resolved before next week. Another related question is, does anyone know who will declare (and where) whether one gets some compensation or not?


  7. #17

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    5,585

    the liquidator.


  8. #18

    Join Date
    Sep 2008
    Posts
    8
    Quote Originally Posted by brobrox:
    I cannot get any information from my bank apart from 'we have to wait'.
    Thanks for responding, its comforting to know this is the widespread response to bondholders.

    To be honest, if I had an offer of say around 40 cents (maybe even less) in the dollar now, I probably would take it rather than waiting for the whole liquidation process where I could get less. Thats why I was being so anxious about getting information from my account manager. Unfortunately it is becoming clearer that no opportunities to sell are available.

  9. #19

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    5,585

    40c was before they declared bankrupt.


  10. #20

    Join Date
    Sep 2008
    Posts
    8
    Quote Originally Posted by brobrox:
    And I suppose the uncertainty will not be resolved before next week.
    The liquidation/bankruptcy proceedings could take years. (remember they have to liquidate assets and decide how the proceeds are being divvied up). So if you are talking about certainty regarding how much money (if any) we will receive, thats definitely not happening next week.

Closed Thread
Page 2 of 9 FirstFirst 1 2 3 4 5 ... LastLast