Ultrapetrol Bahamas Ltd. (ULTRF)

[PinkBu]

I don't know about this, but I am curious to see what will happen to shareholders. I may play a little here. The plan states that shareholders are unimpaired, although not receiving distribution, so sounds like we keep our shares after exit from BK (nothing extra). And yes, I have read articles that the company plans to go private... but "after emergence from bankruptcy", and with no specifics. So, how long after bankruptcy?

The plan states:

2. Parent-Included Plan
(a) Class 10 – Equity Interests in Parent.
i. Classification: Class 10 consists of Equity Interests in Parent.

ii. Treatment: In accordance with and giving effect to the provisions of section 1124(1) of the Bankruptcy Code, Equity Interests in Parent are Unimpaired by the Parent-Included Plan and the Parent-Included Plan leaves unaltered the legal, equitable, and contractual rights to which such interest entitles the holder of such interest. No distribution shall be made under the Parent-Included Plan on account of Equity Interests in Parent.

iii. Voting: Class 10 is Unimpaired. Therefore, holders of Class 10 Equity Interests in Parent are not entitled to vote to accept or reject the Parent-Included Plan.