cottonisking
23 hours ago
Continue, do both at the same time, New Business and correct case law:
AI Overview
+2
Case law is a collection of legal precedents established by judicial decisions that interpret and apply existing laws to specific situations:
Definition
Case law is a body of law that is based on judicial decisions, rather than on constitutions, statutes, or regulations.
Purpose
Case law helps courts decide what to do in new cases by establishing legal principles for interpreting the law.
How it's used
Case law is used by attorneys to interpret the law and by other courts to guide future rulings.
How it differs by jurisdiction
Case law differs from one jurisdiction to another. For example, a case in New York would not be decided using case law from California.
Examples
Some examples of case law include the Miranda warning, the constitutionality of same-sex marriage, and strict product liability.
cottonisking
2 days ago
Fate of Cheetos revealed after manufacturer files for bankruptcy
By LAUREN ACTON-TAYLOR FOR DAILYMAIL.COM
05:21 04 Dec 2024, updated 14:38 04 Dec 2024
The manufacturer of Cheetos has revealed the fate of the popular food snack after declaring bankruptcy following a child labor scandal.
Despite its parent company declaring bankruptcy, Hearthside Food Solutions - which also produces products for brands such as Kraft, Kellogg's, Mondelez, General Mills and PepsiCo - has said it intends to continue operations as normal.
Parent company H-Food Holdings LLC filed for Chapter 11 bankruptcy on November 22, after racking up $1.9 billion in debt.
Hearthside Food Solutions, which is based in Downers Grove, Illinois, said it will continue paying worker salaries and benefits, maintaining customer programs, and honoring vendor obligations.
To fund these operations throughout the bankruptcy process, the company filed a motion seeking approval for $300 million in financing.
https://www.dailymail.co.uk/yourmoney/consumer/article-14133829/amp/cheetos-revealed-manufacturer-files-bankruptcy.html
cottonisking
2 days ago
🗼🗽🗼 This report is for your information and you don’t need to do anything.
This report and future updates
On 25 November 2022 the UK High Court granted the Administrators’ term in office to be extended to 30 November
2025. We are currently considering the best strategy for extending / ending the administration pending the outcome of
the ongoing litigation to resolve the remaining proof of debt.
Section 1: Introduction
Introduction
This is the thirty-second progress report prepared by the Administrators of the Company.
This report provides an update on the work the Administrators have undertaken, with a particular focus on progress
made in the Reporting Period.
Earlier reports can be viewed on the LBIE website at
https://www.pwc.co.uk/services/business-restructuring/administrations/lehman/lehman-brothers-international-europe.html
Objective of the administration
The Administrators are pursuing the objective of rescuing the Company as a going concern, as approved by the
Chancellor of the UK High Court on 15 July 2020 in the context of a directions application in relation to preferred equity
distributions. The Administrators continue to review the objective of the administration on a regular basis.
Interests of remaining creditors
As set out in previous reports, the relevant provisions of the Surplus Scheme continue to remain in effect to deal with
the small handful of creditors who, mostly due to a failure to provide valid Standard Settlement Instructions (“SSI’s”),
have not received their interest. LBIE will no longer owe any amounts to these outstanding creditors, assuming that
they have still not engaged and provided SSI details, when the one creditor who continues to have an unagreed proof
of debt pending resolution of connected litigation has either been paid or it has been determined that this party is not in
fact a creditor of LBIE.
Operating Committee and governance arrangements
The Administrators continue to regularly meet with the Operating Committee to explain how key aspects of the
administration are being dealt with and to consult with the Operating Committee on relevant issues. There has been no
change to the constitution of the Operating Committee.
Why we remain in office
The Administrators remain in office to deal with the following tasks:
? To cooperate with further requests from the Directors to make distributions to the Shareholder if it is appropriate to
do so;
? To resolve the remaining pending proof of debt;
? To manage the Company’s ongoing litigation whilst it remains appropriate to do so and work out the Company's
residual assets;
? Compliance with tax and VAT matters;
? Compliance with statutory tasks; and
? To end the administration in an orderly fashion and where appropriate, transition the conduct of the Company's
remaining business and activities to its Directors.
Further details are contained within the body of this report.
What you need to do
This report is for your information and you don’t need to do anything.
This report and future updates
On 25 November 2022 the UK High Court granted the Administrators’ term in office to be extended to 30 November
2025. We are currently considering the best strategy for extending / ending the administration pending the outcome of
the ongoing litigation to resolve the remaining proof of debt. The court is likely to hand down its decision during the
next reporting period. We’ll provide an update on this in our next report.
The Administrators’ next formal progress report to creditors will be in approximately six months’ time, and will be
posted to the website on or before 14 April 2025.
3 Joint Administrators’ progress report from 15 March 2024 to 14 September 2024
https://www.pwc.co.uk/services/business-restructuring/administrations/lehman/lehman-brothers-international-europe.html
cottonisking
4 days ago
I see the light!
Putin gives more details on Russia's 'Oreshnik' hypersonic missile, saying its destructive elements reach over 7,000 degrees Fahrenheit
"The damage is substantial," he continued. "Everything at the centre is reduced to ash, breaking down into its elemental components, and objects located at a depth of three or four, possibly even more, floors below are affected."
https://www.businessinsider.com/oreshnik-missile-new-details-putin-russia-ukraine-hypersonic-2024
Hybrid or blind idiot? Here is your Cripple-Toe ETF called Heat.
The Godfather
1 week ago
Happy Thanksgiving everyone! As we get closer to the end here, I would like to take a moment and thank everyone on the Board here (including you, Joe). Whether we get something from this or nothing, the banter was always fun. Coming up with estimates on what we would get was always exciting, the hopes that were crushed after a fake timeline we gave ourselves as far as the resolution never passed, some of our message board buddies have crossed over to the other side of the pond. For those that are still here, enjoy your time on this third rock from the sun and be thankful about being able to see the sunrise/sunset on a regular basis. The world can be a really messed up place depending on your coordinates but hey, I am able to type my thoughts without worrying about my home being bombed any minute now. Go America and I really hope we find our pursuit of happiness through the resolution of this Ch 11 case very soon.
cottonisking
2 weeks ago
panel that someone wants to be heard.
2 MR. GREGORY: Your Honor, this is Ricky Gregory
3 speaking. I've been working very closely with Mr. Wu on his
4 motion. And basically, due to the fact that the ECAPS
5 general partner was taken off the register of companies in
6 London, did not have a voice from June 2010 --
7 THE COURT: Mr. Gregory, ECAPS --
8 MR. GREGORY: (indiscernible) go ahead.
9 THE COURT: Mr. Gregory --
10 MR. GREGORY: Yes.
11 THE COURT: ECAPS has nothing to do with this.
12 MR. GREGORY: Let me make the link (indiscernible)
13 for you.
14 THE COURT: ECAPS has --
15 MR. GREGORY: Can I make the link? Can I make my
16 statement for you very quickly? Basically, LBH PLC has their
17 subordinate notes for Partnerships 1, 2 and 3 guaranteed by
18 the Board of Directors' June 9, 2005 global guarantee.
19 A clause in the prospectus for (indiscernible)
20 states that we are parity with any guarantee for any
21 affiliate --
22 THE COURT: Okay. Mr. Gregory --
23 MR. GREGORY: Go ahead.
24 THE COURT: Mr. Gregory --
25 MR. GREGORY: I'm listening.
THE COURT: Finish your statement, Mr. Gregory.
15 MR. GREGORY: LBH PLC subordinate notes for
16 Partnerships 1, 2 and 3 were guaranteed by the global
17 agreement that was created by the Board of Directors on June
18 9, 2005. If you look at the Capital Trust prospectus, it
19 states that the holding companies, which is LBHI's Capital
20 Trust securities, or parity with any guarantee issues for
21 any affiliate, it's a fact that the Capital Trust of the
22 (indiscernible) securities. It's a fact that the enhanced
23 Capital Preferred Securities issued by Partnerships 1
24 through 5 are preferred securities. It's a fact that the
25 general partner is an affiliate of LBHI.
So, in reading the language of the prospectus,
2 basically the Capital Trust inherits the same guarantee,
3 that global guarantee, that the ECAPS has. And that creates
4 a current liability.
5 Now, I didn't become aware of this until Docket
6 58763 was filed on August 27, 2018. It was a letter from
7 Mr. Fail that has a copy of the claims for Partnerships 1,
8 2, 3, 4 and 5, the ECAPS. And it also talks about how the
9 Lehman Brothers Special Financing guaranteed swap claims for
10 the (indiscernible) agreement for Partnerships 3, 4 and 5
11 are also guaranteed by the global agreement, even though the
12 Capital Trusts do not have a claim with Lehman Brothers
13 Special Financing, we still have a parity with the guarantee
14 for Lehman Brothers Special Financing.
15 I also have a Docket 46304 that was filed on
16 September 13th, 2014, where I mention this when they were
17 going to make a -- when they were going to pay out the
18 disputed claims, the Lehman Brothers Commercial Corporation
19 and Lehman Brothers Special Financing. But I was basing it
20 in 2014 upon the J.P. Morgan guarantee for their September
21 agreement.
22 I was not aware back in 2014 that the ECAPS had
23 their subordinate notes for Partnerships 1, 2 and 3
24 guaranteed by the global agreement. If you look at the
25 prospectus for the Capital Trust, if we're not paid anything
by LBHI, basically LBHI, according to the prospectus, will
2 divide up the subordinate debenture into 25-dollar units and
3 issue them to the holders of the Capital Trust.
4 When you look at the finance -- FINRA --
5 (indiscernible) Financial Industry Regulatory Authority and
6 the SEC, any holder who purchased these securities, since
7 they're still trading, is the holder as if they bought them
8 from day one. Otherwise, it's fraud for these securities to
9 be trading if we're not the legitimate holders.
10 If a payment is ever made out, it's going to be
11 paid out through the Bank of New York Mellon. The Bank of
12 New York Mellon is going to pay the holders of record, which
13 is us. The Bank of New York Mellon is the Trustee for the
14 ECAPS, and it's the Trustee for the Capital Trust securities
15 as well.
16 THE COURT: Mr. Fail?
17 MR. FAIL: Thank you, Your Honor. There was a lot
18 in that that, if you'd like, I can try to respond to. At
19 the beginning of the colloquy attempted to -- it was a
20 discussion about what have been referred to as ECAPS, as
21 Your Honor has identified, separate trusts, perhaps some
22 similarities.
23 Your Honor will recall, and for Mr. Gregory's
24 benefit, the ECAPS -- certain ECAPS held subordinated debt,
25 not issued like the (indiscernible) ones here
cottonisking
2 weeks ago
🐢🐢🐢Five years ago and we are still waiting since my June 19, 2019 Court Date.
"cottonisking
Re: cottonisking post# 86197
Wednesday, 11/13/2019 8:48:46 AM
"25 In fact, this case is coming to its conclusion."
"21 It resulted in a plan of reorganization. The plan "
This is good info my friends! It is like too goods name fellow! LoL
"fel·low/'felo/
noun
a man or boy.
a person in the same position, involved in the same activity, or otherwise associated with another.
a member of a learned society.
adjective
sharing a particular activity, quality, or condition with someone or something."
*** Excerpt from our June 19, 2019 hearing ***
"25 THE COURT: Okay. Go ahead, Mr. Gregory. The SEC
1 has ruled whereby if you purchase these securities, you own
2 them as though you own them from day one, and you have
3 standing. Well, it should be considered fraud for these
4 securities to still trade if the prospectus cannot be
5 honored --
6 THE COURT: Well, Mr. Gregory --
7 MR. GREGORY: -- according to the parity rules --
8 THE COURT: I'm not going to --
9 MR. GREGORY: Go ahead.
10 THE COURT: Mr. Gregory, I'm going to engage you
11 in a detailed discussion of what the SEC has or has not
12 said. I will tell you that as far as I'm aware people trade
13 in all sorts of securities that range from worthless to
14 entirely worthless to worth a few pennies to let's see who
15 you sell it to for another penny.
16 This is a bankruptcy case that was conducted
17 pursuant to the rules of this Court, Federal Rules of Civil
18 Procedure as adopted and incorporated into the bankruptcy
19 rules according to the Bankruptcy Code under the glare and
20 spotlight for years and years and years.
21 It resulted in a plan of reorganization. The plan
22 of reorganization contemplated a bar date and an orderly
23 process for the consideration of claims. That's what has
24 occurred here.
25 In fact, this case is coming to its conclusion."
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