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Message from Charlien Dude @ Boardpost

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baldeagle1   Friday, 06/01/12 03:22:48 PM
Re: None
Post # of 407455 
Message from Charlien Dude @ Boardpost
reference to petition to change BK rules
on behalf of equity-as proposed by Ilene.

Petition to Change BK Rules to Help Equity Holders
« on: Today at 03:19:29 PM »Quote Our good friend, Ilene, has created a petition to file with our representatives to change the Corporate Bankruptcy regulations. After what we experienced, we know how it needs serious change.

If you want to support her Petition, then sign up at the following Change.org link. Please share with other message boards for investors that may not read posts here.

Thanks for your help.


http://www.change.org/petitions/the-us-congress-change-the-corporate-bankruptcy-laws-to-be-inclusive-of-shareholders



We understand that in this economic climate, seeking bankruptcy protection is something that many companies need to explore in order to streamline their businesses and continue to operate as going concerns. However, under present Corporate Bankruptcy laws, certain stakeholders have an automatic seat at the negotiating table (ie Creditor's committee) while others need to mount an expensive fight to even be heard. Equity realizes that in the pecking order of current laws, owners get paid last. We have no argument with that. However, while hundreds of millions of debt dollars are being shed routinely so companies can reorganize themselves, it is almost criminal that those that have taken the most risk have no automatic seat at the table, and that the US Trustee's office (DOJ) along with the Debtor, can determine whether or not equity even deserves a voice in the proceedings. This, we take great issue with. Hundreds of millions of investment dollars, of families' nest eggs and wealth, are being thrown away each year. Help us stand against the hedge funds and the large corporate bondholders, to at least HAVE A VOICE.



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