Re: Arrangement / Compromise Disclosure?
posted on
Sep 07, 2012 02:28PM
i believe aug 27 was the deadline for documents to be submitted relating to an extension or progress on a plan. I also believe 100% that noteholders are waiting on the outcome of the appeal which can come out any day before they decide on any deal. They still have an opportunity to hit a double or triple if their homerun swing misses. I still see a 30 day extension followed by management giving noteholders something. These guys bend the rules on all fronts but its no surprise and to think any different can be costly. Its similar to some certain noteholders claming they owned approximately 30 million shares in documents submitted to court twice but then denyIng any ownership in Sec filings. In the end both management and noteholders have incentive to emerge from bk. The question is how much it will cost shareholders.