Any Class action law suits for investors.... we were robbed!

The current new trading symbol for Arch Coal Inc is ARCH. ACII, and ACCQ are no longer active. A new IHUB board exists with the symbol ARCH.

Shares cancelled 8:59am today

http://otce.finra.org/DLDeletions

Its over.

The shares were cancelled and delisted at 8:59am today.



Louis J. Desy Jr.

Nevermind looks like old shares will be cancelled

They should

Thanks

Old shares will NOT transfer

The old shares will not transfer to the new ticker.

The new shares are being issued to holders of debt/bonds and other liabilities, and those are the shares that will trade on the new ticker.

Louis J. Desy Jr.

Look At Formerly Stock Symbol Ticker # SDOCQ That Was GULLITONED After SD Was Created As New NYSE Ticker ...


ACIIQ Shareholders Will Be Wiped Out In The Face Of The Earth ...

Will old shares transfer to new ticker ARCH ??

Gonna be uplisted to the nyse?

http://www.prnewswire.com/news-releases/arch-coal-successfully-completes-financial-restructuring-and-emerges-from-chapter-11-300339664.html

Glad I only looked yesterday at this one! Best to all here that lost.

ACIIQ: BK PLAN effective at 8:59 A.M. All shares cancelled.

http://otce.finra.org/DLDeletions

Big crash here pre market... must be some bad BK news, right?

Interesting days on this one...what will the PPS do next? Is there a bounce left? Best to all here.

nice call dude

in at .07 , making a quick flip

3 million shares traded

Unfortunately, anyone buying is doing one of two things:

1: A trader who expects there to be one last bounce, and is playing off of that.

2: The retail market that has no idea what is about to happen, and does not even bother to understand the process or the timelines.

While people in the first group are playing a dangerous 'game', they are experts and know the risk they are taking.

The people in the second group simply have no idea what is going on. They seem to keep talking about how other companies have recovered or even think that bankruptcy wipes out the debt and the company is saved, not understanding that most of the time the common shares get wiped out also.

Louis J. Desy Jr.

Why would 3 million shares be absorbed today for roughly $800,000?

It is over Wed, Oct 5, 2016

8K report filed Fri, Sept 30, 2016:
http://ih.advfn.com/p.php?pid=nmona&article=72564274

Can almost hear the slide whistle.

Still ticking

maybe short covring

Delay in entry of 'Effective Date' for plan

It looks like the final few documents that are required to be filed had not been done yet, so the entry of the effective date will be delayed until that happens.

No idea why anyone would delay filing documents, since these look like they are related to the new debtors of the reformed company, and every day they delay adds expenses to the bankruptcy.

I would have normally considered that they would have spent the ten days hurrying up to prepare and filed the missing documents.

Louis J. Desy Jr.

still trading

Waiting for the exit

Open call options example


I found some documents with OCC about what happens and a recent example with Penn Virginia Corporation:

http://www.theocc.com/webapps/infomemos?number=39678&date=201609&lastModifiedDate=09%2F13%2F2016+08%3A46%3A42

Open call options

This could be a problem, IF the existing common shares somehow survived long enough to force the call writers to have to do something about the losing position, providing the stock price stayed up.

The problem is that the shares are going to be cancelled any day now so the call option will become worthless since there are no shares to be delivered anymore (or any delivered shares will have a value of zero).

There is no reason for anyone with an open call position to bother closing the trade, they can just let the options expire worthless when the stock is cancelled. For tax purposes, the position will probably be deemed as completed or closed when the shares are cancelled and the tax on the profit due in that tax year that happens.


Louis J. Desy Jr.

your rite but someone is short tens of thousands of jan 2017 and 2018 calls will make them big time short

Can't buy options when in bankruptcy unless to close

When a company is in bankruptcy, people are only allowed to buy options in order to close positions that they have open. So the only people that can buy the call options are people that wrote call contracts and still have them open.

Also, no one is allowed to write (open) new option contracts.

Louis J. Desy Jr.

Massive opportunity?
2018 $1.50 calls offered a penny?

If you read the bankruptcy agreement stockholders are wiped out

Tons of open interest in Jan 2017 and 2018 options still, could be very very volatile if shares are worth something

Sure doesn't look like common is going to zero

Im selling mine tomorrow.........

http://www.archcoal.com/restructuring/pdfs/FINAL%20ACI%20Agreement%20-%20Chapter%2011%20Investor%20FAQ.pdf

1. What will happen to the Arch common stock that I own? Will I receive any compensation if the
stock is cancelled?
? Arch’s agreement with the majority of the company’s senior lenders provides that, upon the
company’s emergence from Chapter 11, Arch’s existing stock will be cancelled and the senior
lenders will receive the substantial majority of the new stock in the reorganized Arch Coal.
? Any recovery to existing stockholders will ultimately be determined in connection with the
company’s Plan of Reorganization upon emergence from Chapter 11. We do not expect existing
Arch stockholders to receive any recovery at the end of the restructuring process.
2. Will Arch’s common stock stop publicly trading now that the company has filed for Chapter 11
protection?
? Arch’s agreement with the majority of the company’s senior lenders provides that, upon the
company’s emergence from Chapter 11, Arch’s existing stock will be cancelled and the senior
lenders will receive the substantial majority of the new stock in the reorganized Arch Coal.
? Any recovery to existing stockholders will ultimately be determined in connection with the
company’s Plan of Reorganization upon emergence from Chapter 11. We do not expect existing
Arch stockholders to receive any recovery at the end of the restructuring process.
? On January 11, 2016 the New York Stock Exchange (NYSE) suspended Arch’s common stock
from trading and initiated proceedings to delist the stock.
? Upon delisting from the NYSE, Arch common stock might still be traded over the counter in the
Pink Sheets or on the OTCBB, but we cannot assure you this will be the case.
? A delisting from the NYSE could result in significantly lower trading volumes and reduced
liquidity for investors seeking to buy or sell shares of the common stock.
3. Can / should I sell my Arch common stock now?
? We are not in a position to offer investment advice.
? Arch’s agreement with the majority of the company’s senior lenders provides that, upon the
company’s emergence from Chapter 11, Arch’s existing stock will be cancelled and the senior
lenders will receive the substantial majority of the new stock in the reorganized Arch Coal.
? Any recovery to existing stockholders will ultimately be determined in connection with the
company’s Plan of Reorganization upon emergence from Chapter 11.
? We do not expect existing Arch stockholders to receive any recovery at the end of the
restructuring process.

Appeal of plan? Not likely

It would not make any sense. The unsecured creditors are taking a large loss, and they would need to be made whole before the existing common shares got anything.

The other problem, is what basis would they appeal on? The company is bankrupt.

Louis J. Desy Jr.

is it possible some shareholders are appealing the bk plan?

Arch Coal Restructuring Plan Wins Court Approval -- Update

5:04 pm ET September 13, 2016 (Dow Jones) Print


By Jacqueline Palank

Arch Coal Inc. on Tuesday secured bankruptcy-court approval for a plan to cull nearly $5 billion in debt from its books and emerge from chapter 11 protection.

The U.S. Bankruptcy Court in St. Louis confirmed Arch's chapter 11 plan of reorganization, the company said, adding that it expects to exit bankruptcy protection in early October.

"We have accomplished a great deal through the restructuring process and are confident that we have established a solid foundation for long-term success," Arch Chief Executive John W. Eaves said in a statement.

The plan reduces Arch's debt load by about $4.7 billion and ensures that the company will be a "lean, mean, fighting machine for the coming era, which will remain challenging and complicated for the U.S. coal industry, " Arch bankruptcy lawyer Marshall Huebner said in court Tuesday.

Unsecured creditors including bondholders will get $30 million in cash and 6% of the new shares, court papers say. Bondholders also get to choose between warrants to buy up to 12% of Arch's new common shares or $25 million in additional cash. All of the stock distributions are subject to dilution by the warrants and a management incentive program.

Current shareholders will be wiped out under the plan.

The current plan is the product of settlement talks with junior creditors, who had threatened litigation in connection with Arch's prior restructuring efforts.

"Getting here today was not without its challenges," Mr. Huebner told the court, according to an audio recording of Tuesday's proceedings posted to the court docket.

The plan ultimately carried broad support from Arch creditors -- according to Mr. Huebner, more than 96% of creditors who cast ballots on the plan voted in favor -- but drew an objection from a federal bankruptcy watchdog.

The watchdog, U.S. Trustee Daniel J. Casamatta, had filed papers opposing the plan's liability releases for the lawyers and advisers to various Arch creditors. Judge Charles E. Rendlen III overruled that objection Tuesday, pointing to the consensual nature of the plan.

"The Arch plan is actually a model of negotiation and people actually getting along," the judge said. "There's no reason not to approve this plan."

Days before Tuesday's court hearing, Arch revised its restructuring plan to include a pledge of additional assurance of its ability to cover environmental liabilities at its mines in Wyoming, where it is one of the biggest coal mining companies in the Powder River Basin.

Before its bankruptcy, Arch had posted $485 million in self-bonds to cover mine cleanup costs in the state. Self-bonds aren't backed by insurance or collateral, making them a cost-effective option for miners but potentially troublesome when a miner runs into financial problems.

The amended plan provides for Arch, within 15 days of exiting bankruptcy, to replace all of its self-bonds in Wyoming with bonds backed by insurance, cash or other collateral. Wyoming is the only state where Arch has self-bonds, court papers say.

St. Louis-based Arch mines for coal in Colorado, Illinois, Kentucky, Maryland, Virginia, West Virginia and Wyoming. The company sought chapter 11 protection in January after a failed effort to restructure its debts outside of bankruptcy court. It was one of several major coal producers -- such as Alpha Natural Resources Inc. and Peabody Energy Corp. -- to file bankruptcy to address a heavy debt load amid troubled coal markets.

Write to Jacqueline Palank at jacqueline.palank@wsj.com



(END) Dow Jones Newswires

September 13, 2016 17:04 ET (21:04 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

Current shareholders will be wiped out under the plan.

What does "wiped out" mean? to me it means completely gone.
So, current shareholders shares will not convert to the new share structure?

If true.....puzzling why buyers are buying in?

wonder if shares will be worth something long term

All the hallmarks of a strong move up here!! Started with a 'barely noticeable' volume spurt Monday. Very nice!!

$ACIIQ

remember american airlines went from pennies to 50 bucks in BK. just saying

It IS unbelievable

The company just told the world, in the latest 8K report, that the shares are definitely going to be cancelled, but the stock jumps on on the 'good news'.

It just goes to show that large parts of the retail market do NOT read any of the reports.

As a side note, anyone still holding ACIIQ should use this opportunity as a 'gift' to get something for the shares before they stop trading.

The only slim hope that the trading does not stop this weekend is that there is an appeal (not very likely) or a delay with some of the documents discussed in the 8K report being filed. (The effective date will not be until and after the documents are filed.)

In any case, at some point soon, the stock will stock trading and the shares cancelled.

Louis J. Desy Jr.

thx dude, keep us posted

What may be going on

I think people are confused as to what the plan being confirmed means. I have seen this happen before where there is a press release, and the retail market thinks that 'now the company is saved', when the truth is that the stock is still on track for being cancelled.

Some people, usually retail investors, think that once a reorg plan is completed, believe the company now is the same (existing common shares remain) but now free of all of the liabilities. They miss the part where they are told in the 8K reports that the common shares are being canceled.

Louis J. Desy Jr.

damm wish i would of bought the other day at 13 cents, wonder whats going on here?

so if long sell before it goes to zero ?

Excerpt from this mornings 8-K

"Arch Coal currently has 21,298,872 shares of common stock, par value $0.01 per share, issued and outstanding. On the Effective Date, all outstanding shares of Arch Coal's common stock will be cancelled and extinguished, and any rights of any holder in respect thereof, will be deemed cancelled, discharged and of no force and effect."

Shares are going to be wiped out/going to zero

Unless someone files an appeal on the order confirming the plan, the shares will be wiped out and stop trading before Monday, September 26, 2016.

The shares are going to zero.

Once the court enters an order for the effective date for the plan, and the shares stop trading, the brokerage firms will remove the shares from everyone's account because they will be cancelled.

Louis J. Desy Jr.