Tan Kin Lian's Blog: Persist in our efforts

Thursday, December 04, 2008

Persist in our efforts

The officials in MAS spent the past month to find a new swap counterparty to replace Lehman Brothers. They are not able to find a new arrangement, in spite of the highly qualified, well paid people and regulatory power available in their hands.

I work with a handful of volunteers to help the noteholders (i.e. the "investors" who bought the credit linked notes) to get a fair compensation. These volunteers have to work on their full time job, and find some free time to devote to this task. Our request for information and meetings from the financial insitutions and with the regulator are usually ignored.

In spite of the great obstacles, we will persist in our fight for justice and fairness. I hope that, one day, our efforts will be rewarded.

http://forums.delphiforums.com/n/mb/message.asp?webtag=3in1kopitiam&msg=2907.1

19 comments:

Anonymous said...: boycotts US products,then Hilary CLinton will smell it.; December 04, 2008 7:41 AM
Anonymous said...: Didn't JB Jeyeratnam, Lee Siew Choh, Tan Liang Hong, Francis Seow and more recently Chee Soon Juan warned us of the consequences of having a one party rule? Singaporeans ignored them, now is payback time.; December 04, 2008 9:47 AM
Anonymous said...: Good Morning Mr Tan and all my same fate friends.

Just to share the reply of my query to Lehmantrustee.com in USA this morning.

Dear Ms Leng...

Thank you for your inquiry. Information regarding: (1) Lehman Brothers Holdings Inc., et al., chapter 11 cases is available at http://www.lehman-docket.com; and (2) Lehman Brothers Inc. SIPA proceeding is available at http://www.lehmantrustee.com. Additional information will be disseminated with respect to these matters through the applicable website. Please consult the appropriate website with respect to your question or request. Also, you may contact the Call Center that has been set up to respond to inquiries in each of these matters by using the following telephone numbers: (a) for the Lehman Brothers Holdings Inc., et al., chapter 11 cases call: (i) 1.866.879.0688 (US); or (ii) 1.646.282.2579 (Non-US); and (b) for the Lehman Brothers Inc. SIPA proceeding call: (i) 1.866.841.7868 (US), or (ii) 1.503.597.7690 (Non-US). Thank you again.

Best regards,
Epiq Bankruptcy Solutions, LLC

Can someone expert in Finance & Law help to explore and hopefully we can get something from here.

Below wedsite are the link to the above correspondence:-

http://chapter11.epiqsystems.com/clientdefault.aspx?pk=978bd245-11be-4d4b-83db-d6a3283b2962&l=1

http://chapter11.epiqsystems.com/clientdefault.aspx

Take care & have a good day.

Regards
Leng63; December 04, 2008 10:24 AM
Chan J C said...: A big THANK YOU to Mr. Tan and all the volunteers to help out noteholders including myself.; December 04, 2008 10:35 AM
Anonymous said...: We will continue and persistently fight for justice and fairness to get back our money.; December 04, 2008 10:43 AM
Anonymous said...: 1.Lehman B has been the main culprit of introducing the lopsided betting game.they cheat and told the whole world that the betting is for the benefit of the investors. In fact, the evil of the games is : you-gain-I-gain more , you-lost-I- suffer-no loss. The unfairness and evilness of the game are obviously shown in its purpose of cheating the investors right from the start.
2.DBS and other financial products borrows the ideas from Lehman. They were playing the same dirty games with many illiterate customers and unavoidably having a consequence of you-lost-all-I-suffer-no loss .
3.The more civilised and advanced countries, ie UK,USA,JAPAN,KOREA ,GERMANY etc are suing these irresponsible FIs so to put things on the right treck. Unfortunely, Singapore government seems to protect the interest of the FIs as their priority. The contrast between the advanced countries and our own in handling these kind of cheating case is sad to be too big a different.; December 04, 2008 11:53 AM
Unknown said...: UNBELIEVABLE

"Just to share the reply of my query to Lehmantrustee.com in USA this morning.

Dear...

Thank you for your inquiry. Information regarding:...

(1) Lehman Brothers Holdings Inc., et al., chapter 11 cases is available at http://www.lehman-docket.com; and...

(2) Lehman Brothers Inc. SIPA proceeding is available at http://www.lehmantrustee.com...

Additional information will be disseminated with respect to these matters through the applicable website...

Please consult the appropriate website with respect to your question or request...

Also, you may contact the Call Center that has been set up to respond to inquiries in each of these matters by using the following telephone numbers:...

(a) for the Lehman Brothers Holdings Inc., et al., chapter 11 cases call: (i) 1.866.879.0688 (US); or...

(ii) 1.646.282.2579 (Non-US); and...

(b) for the Lehman Brothers Inc. SIPA proceeding call:...

(i) 1.866.841.7868 (US), or...

(ii) 1.503.597.7690 (Non-US)...

Thank you again... "

IF a simple simple query result in only a one single paragraph email of ENDLESS REFERRALS to other websites and phonelines, then...; December 04, 2008 12:22 PM
Anonymous said...: Thank you Mr Tan, as long as we persevere the test of time and focus on our goal, we will surely be rewarded !; December 04, 2008 1:05 PM
Anonymous said...: I think the only way to help ourselvse is to sue the FIs on a "test case" basis as proposed by TKL. Even to wind up the terminated minibonds would take 2-3 years as reported in the newspapers. And if you are to wait for the FIs to respond to your complaints or to go to FIDREC to get your case examined, your hair will turn grey before you get any reply. I attended a so called interview by the high notes issuer one month ago and was assured that the bank would give a reply in about 4 weeks. But nothing. No reply at all. I believe everyone is frustrated in view of the "boh chup" attitude of the "big people" up there. So to "do the right thing" for ourselves, then DIY is the way - sue the FIs one by one.

One thing I will no do, and I do not wish anyone to do, is to make use of this platform to sell one's political ideas. Focus on the toxic structured products issues please.; December 04, 2008 4:47 PM
Anonymous said...: I agree with Wilson. Let's pool our money and resources to sue the FIs one by one. And when the case goes to court, the world will get to see all the dirty laundry of the FIs.; December 04, 2008 6:11 PM
Unknown said...: "Let's pool our money and resources to sue the FIs one by one."

er...No Comment.; December 04, 2008 8:21 PM
Anonymous said...: Nobody asked for your comments Wayangnologist. In fact, we wish you will not write any more comments, as you like to throw cold water. It is obvious you are not sympathetic to the victims.; December 04, 2008 10:32 PM
Unknown said...: Anonymous 10:32 PM

Firstly, who is 'WE', i noted you, as an anonymous, used the term rather loosely

Secondly and more importantly, is it me or do you ('WE') REQUIRE sympathy??

You could have just asked!; December 05, 2008 12:58 AM
Anonymous said...: I agree with Wilson, let's pool for legal action.; December 05, 2008 12:23 PM
Unknown said...: This sounds constructive, Wilson do please organise up something

It seems a lot of pple are keen on supporting You, Anonymous as They might be

Least a couple of them must be equally keen on becoming the Test Cases.; December 05, 2008 2:47 PM
Anonymous said...: There is no lack of supporters for the "test case" to be carried out. Let's wait for TKL and his legal team to work out something. He has mentioned that we need to wait till Feb next year to get all the legal opinion. We have to wait though things may change by then. Be patient.; December 05, 2008 10:12 PM
Unknown said...: "There is no lack of supporters for the "test case" to be carried out. Let's wait for TKL and his legal team to work out something. He has mentioned that we need to wait till Feb next year to get all the legal opinion. We have to wait though things may change by then. Be patient."

do you actually mean supporters for your cause, or willing test subjects, becos i thought everyone understood naturally there are supporters aplenty

that said, your expression does set me wondering if some 'supporters' might actually been rubbing their hands for relishing the 'chance' of BEING the Test Subjects, by deliberately and making every oppt to invoke and incite as many people to chip in, to pool for legal fees as they possibly could, hopefully in support for 'the Test Suject's cases'. They might have jolly well anticipated the Test Cases as the First and LAST window of oppt they might get, all the more merrier with 'a little help' from fellow investors

i hope this isnt the case of subtle manipulation, even within victim groups, but we will find out when it all comes down to picking or volunteering Test Subjects, i am just not certain if some might withdraw their 'contribution' AFTER they realise they didnt turn out to be the 'destined' Test Subjects

one other thing tho, you sounded quite keen to proceed full steam ahead with 'DIY is the way - sue the FIs one by one', in fact thats exactly what your Anonymous supporters sounded..why all of the sudden you mentioned 'WAIT' three times there in your statements, stalling your engine all the way til Feb, BEHIND the Blog Owner personal efforts

Why WAIT, that does not sound very confident, you could take your own line of proceeds with the anonymous supporters you have, just go ahead!

i hope the Blog Owner will post this as these are important reminders; December 06, 2008 1:07 PM
Anonymous said...: Mr Wayangologist - pls post your comments in simple English. What are you saying. Forget about Class Action or what?.....pls. say so in simple english and none of this sarcasm.....you seem to delight is seeing everyone lose money - which we have - but that shld not deter thsoe who want to get their say in Court even if it means incurring legal costs.; December 06, 2008 10:29 PM
Unknown said...: ANOTHER Anonymous 10.29

I felt intrigued by the fact you said you DONT understand enough of what i was trying warn about the possible selfish agenda of some of the investors, contrarily to turn around to CRITICIZE and even TWIST it.

By your obvious counter of Pretense, now I am ever more sure I was indeed on the right track about this 'wave of manipulation' within victim groups hereabouts. Someone is urging legal suits as a matter of his OWN personal agenda and taking advantage of his anonymity online to propagate what he sees as an opportunity for him (or her)self

I hope Blog Owner will note this matter when factoring Test Cases Subjects and post this up for the understanding of all investors of what they are facing and getting into the moment they drop a dollar into that legal pool tontine.

Yes its ever more clearer now this is just like the age old scheming Tontine Scam in 21st century replay.; December 07, 2008 1:08 PM