tag:blogger.com,1999:blog-9175413293408197886.post3920922812462185414..comments2023-08-05T07:59:38.315-04:00Comments on Where Legal Analysis Drives Investment Value: Double, Double,Toil and Trouble: Articles 77 and 78Christian S. Herzeca, Esq.http://www.blogger.com/profile/09913237226503475709noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-9175413293408197886.post-61773083797779279652013-03-08T11:40:15.626-05:002013-03-08T11:40:15.626-05:00hey sigurd. i would first note that bac is a littl...hey sigurd. i would first note that bac is a little equivocal about appeal. their outside lawyer (guiffra at sullivan & cromwell) said he would file appeal, but their pr spokesman (grayson) said bac would proceed with fraudulent conveyance (plenary) action. in a sense, the plenary action is "stronger" for bac in the sense that they haven't already lost it at the trial court, and the ratings agencies will look at the plenary action and see more risk potential there than any appeal of the art 78. so i really look at the art 78 appeal more as an opportunity for the outside lawyer to pad his bill than as a part of bac's arsenal.Christian S. Herzeca, Esq.https://www.blogger.com/profile/09913237226503475709noreply@blogger.comtag:blogger.com,1999:blog-9175413293408197886.post-51810966417941223252013-03-08T08:11:32.151-05:002013-03-08T08:11:32.151-05:00Hi Christian
Thanks for all your work on MBIA. I...Hi Christian<br /><br />Thanks for all your work on MBIA. It has been invaluable. I was wondering if you could step us through the appeal process. What needs to occur and how much time it could take (if you can ballpark that). as you mentioned above, liquidity remains an issue for MBIA and so time is still an important factor and I am wondering how much longer BofA can drag this out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9175413293408197886.post-41087211713378622252013-03-05T13:02:59.378-05:002013-03-05T13:02:59.378-05:00should say at end: "residual value at mbia co...should say at end: "residual value at mbia corp."Christian S. Herzeca, Esq.https://www.blogger.com/profile/09913237226503475709noreply@blogger.comtag:blogger.com,1999:blog-9175413293408197886.post-77076726910867543352013-03-05T12:59:38.820-05:002013-03-05T12:59:38.820-05:00I can honestly say that Mr Herzeca research is the...I can honestly say that Mr Herzeca research is the best thing on the internet and better than the so called equity analysts Robhttps://www.blogger.com/profile/01799739577107828516noreply@blogger.comtag:blogger.com,1999:blog-9175413293408197886.post-9982551653032643132013-03-05T10:59:19.882-05:002013-03-05T10:59:19.882-05:00i would agree alot of risk has been taken off mbia...i would agree alot of risk has been taken off mbia with the art 78 decision. however, mbia corp is still having a liquidity problem and there is risk of nydfs putting it in rehabilitation. while one may think such an event would be inconsequential for mbia given consent solicitation and indenture amendment as well as art 78 decision, mbia ceo brown said in last earnings CC that this would be disruptive and mbia would loses value. i suppose he meant that if mbia can settle with bac, there will be residual value at mbia. NB: not investment advice.Christian S. Herzeca, Esq.https://www.blogger.com/profile/09913237226503475709noreply@blogger.comtag:blogger.com,1999:blog-9175413293408197886.post-88059271684313067352013-03-05T10:45:48.727-05:002013-03-05T10:45:48.727-05:00I have been trying to catch up on the MBIA thesis ...I have been trying to catch up on the MBIA thesis quickly (given yesterday's news)and your site has been extremely valuable, so thanks. <br /><br />My question is simple.... if they can now firewall the the structured finance arm what is the downside case with the stock? <br /><br />It seems like you can essentially buy the National Public Finance arm at a steep discount and you get a free call option on the MBIA vs Countrywide litigation. Where can MBIA still get in big trouble?TheAngriestLeekOnEarthhttps://www.blogger.com/profile/09529795696042702758noreply@blogger.com