Lehman investors to recover 100pc of losses in win by PPB

Liquidator PPB Advisory has confirmed to The Australian that the 300 councils and charities that are estimated to have lost $250 million in investments on the bank’s complex financial products – called collateralised debt obligations, or CDOs – were now likely to receive 100 cents in the dollar as part of their settlement with the Australian arm of Lehman’s.

Views: 85

Reply to This

Replies to This Discussion

Deal struck !

The Aussie councils will celebrate their win by blowing the recovered investment funds on lavish "fact finding mission" holidays, spend it on anything but local infrastructure - you should see the poor excuse for a dirt road I must navigate along leading into the town I'm making my new home .... nearly need a new front suspension every few months ! .... and this town is only 95 miles as the bird flies, from Australia's largest city, Sydney. Local councils are quick to grab your money, but not so generous when civilization is at stake. Investing in derivatives seems to be their new "civilization", stuff the local tax payer !

Were you involved with them Peter? I noticed you posting on them before.

Quite the opposite James, I've got more sense than to gamble my money in wild and woolly investments. In fact, I though govts', local or otherwise, were disallowed from investing, but apparently they are allowed. It'll teach em a lesson though, hope they learned all about derivatives and debt swaps, but being the dumb asses they are, they'll probably go straight back into it, can't fix stupid! Now I'm wondering how much of that $250 mil will be for legal fees and incidentals, some law firm will make a quick buck given the speed of settlement

In the greater scheme of things $250 mil is not much but if my local council had just $8 mil of that 250, the residents of my new location might have a half way decent road to drive on without the clouds of powdery dust and the necessity to replace shock absorbers often. Like I said, they're quick enough to grab your taxes but gettin' anything out of them only turns into a dog fight 


Please remember this website is supported by your donations...

12160 NEWS new management/admin info

Putin to Western elites: Play-time is over / The builders of the New World Order have failed

Outrage - Israeli Cartoonist Compares Netanyahu to 9/11 Hijackers - Plane Piloted By NUTTY in to Tower

Why We’re Poorer: Inflation And Deflation Are Now Globalized

Saudi Arabia's "Oil-Weapon" Hits Europe - Iran

China's shadow banking sector growing rapidly, third largest in world: FSB

VIDEO: Inside The Shanghai International Gold Exchange Vaults

German Bank Hits Savers with Negative Interest Rate

Elderly couple fined $80K, raided by Marathon County SWAT because of pallets in their yard

LEAKED VIDEO: Cop Pulls Out His Penis and Begins Masturbating on High School Campus

Maryland Teen Tased By Police 5 Times While In Hospital Dies of ‘Natural Causes’

GOV CLEARS GOV OF WRONG DOING - Ferguson shooting probe of possible grand jury leak wasn't exactly in-depth

Massive Non-Citizen Voting Uncovered in Maryland

50,000 Missing Georgia Voter-Registration Applications? Nothing to See Here

90 Pounds of Cocaine Found on Cargo Ship Owned by Senate Majority Leader Mitch McConnell’s Father-in-Law

Milton Hall being shot at 46 times by police in the US

Report an Issue


Ten Most Wanted

Started by mystery in Current News/Events. Last reply by Joe 5 hours ago. 2 Replies

© 2014   Created by truth.

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2014 - all rights reserved. unless otherwise noted
var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-48719234-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })();