Curious to see if this drops under 2 cents. I wanna grab a few more to average down into the .03s.
I think (and hope) once the BK court starts we see pops. Is the class action plaintiff listed below there for common shareholders?
The Committee of Unsecured Creditors has been named for the PacSun Chapter 11 bankruptcy case.
The committee includes:
Nike USA, a vendor and the largest unsecured creditor with $5.6 million owed
Simon Property Group, a landlord
Hurley International, a vendor
Sedunotex LTD, a clothing manufacturer
GGP Limited Partnership, a landlord
WP Glimcher, a landlord
Charles Pfeiffer, a class action plaintiff
According to the Federal Judicial Center, creditors have a more active role in a Chapter 11 case than in other bankruptcy cases.
The official unsecured creditors’ committee, which is appointed by the U.S. trustee and made up of the seven largest unsecured creditors of the debtor who are willing to serve, monitors the progress of the case.
A secured claim is one that gives the creditor an interest in property as assurance of payment, such as a mortgage on the house to secure a home loan; the holder of an unsecured claim can’t look to any specific property of the debtor for payment.
AI
