The Great Atlantic & Pacific Tea Co. 9.375% QUIBS (GAP.GI)

[56Chevy]

It's not that simple...big problems going that route if insider trading (IT) is revealed. I'm not saying Wall Streeters haven't been known to go down IT routes JS but it's doubtful here. They filed a 2019 which basically notifies the OCC (and the court), that an ad hoc group that consist of more than one creditor or equity security-holder are acting in concert to advance a common interest. If they needed another HF or PI to buy up the QUIBS they could have done that and just added their names to the 2019.

These are some smart guys but did they screw up by not buyng more QUIBS??

Speculative question(s) for you - What do you think this ad hoc group paid (ball park) to buy the debt? In light of the plan - they themselves drafted- what happens to their investment in unsecured debt? and lastly if they're willing to sacrifice that on the front-end where & how do you think they'll make that up on the back-end?

On or about December 12, 2010, the Holders retained Stroock as their counsel. The Holders have advised Stroock that, as of Aug. 9, 2011, the Holders collectively hold, or manage funds or accounts that collectively hold, approximately (a) 81% ofthe outstanding principal amount of the 5.125% Convertible Senior Notes, (b) 80% of the outstanding principal amount of the 6.75% Convertible Senior Notes, and (c) 15% of the outstanding principal amount of the 9 3/8% QIBs.