Monday, March 09, 2015 12:50:28 PM
No choice but to ride it out... I registered my shares in my name with my transfer agent so if there is a payday, I won't depend on my broker to tell me.
With regards to the possibility of a payout to commons, I believe there is a good chance because the company had 39bil assets, and 40bil liabilities when voluntarily filing BK... A large percentage of the 39bil assets are invested in Europe's most indebted Nations, and other interest paying investments so without the overhead of a going concern the assets are appreciating during the 5 year liquidation
Even the bankruptcy papers listed commons as class 9A, and said there was a chance of recovery for them early on... that's almost never said in cases like this.
I believe there were 1.2bil shares of commons so if assets were to appreciate by 10% after expenses then could see some number of $$$ per common share recovered!
With regards to the possibility of a payout to commons, I believe there is a good chance because the company had 39bil assets, and 40bil liabilities when voluntarily filing BK... A large percentage of the 39bil assets are invested in Europe's most indebted Nations, and other interest paying investments so without the overhead of a going concern the assets are appreciating during the 5 year liquidation
Even the bankruptcy papers listed commons as class 9A, and said there was a chance of recovery for them early on... that's almost never said in cases like this.
I believe there were 1.2bil shares of commons so if assets were to appreciate by 10% after expenses then could see some number of $$$ per common share recovered!
Sail Bay
Come on in... The Waters Fine! :)
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