ATPG Senior 11.875% 2nd Lien Bonds (fka ATPG.GE)

[56Chevy]

UPDATED VERIFIED RULE 2019 STATEMENT OF WACHTELL,
LIPTON, ROSEN & KATZ AND VINSON & ELKINS LLP

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As currently constituted, the Ad Hoc Committee consists of First Pacific Advisors, LLC (together with its affiliated and managed funds, “First Pacific”), SMH Capital Advisors (together with its affiliated and managed funds, “SMH”), Canyon Capital Advisors LLC (together with its affiliated and managed funds, “Canyon”), P. Schoenfeld Asset Management LP on behalf of its clients (together with its affiliated and managed funds, “PSAM”), Claren Road Asset Management, LLC (together with its affiliated and managed funds, “Claren Road”), Cetus Capital, LLC (together with its affiliated and managed funds, “Cetus”), Raging Capital Management, LLC (together with its affiliated and managed funds, “Raging”) and Proxima Capital Management, LLC (together with its affiliated and managed funds, “Proxima”).

11. As of the date hereof, First Pacific beneficially owns Notes with an aggregate face amount of approximately $151,323,000. First Pacific beneficially holds approximately $41,656,000 of the overall commitment under the Debtor’s debtor-in-possession financing facility (including prepetition loans refinanced by such facility).

12. As of the date hereof, SMH beneficially owns Notes with an aggregate face amount of approximately $129,854,000.

13. As of the date hereof, Canyon beneficially owns Notes with an aggregate face amount of approximately $92,760,000. Canyon also beneficially owns approximately 30,000 shares of the Debtor’s 8.00% Series B Convertible Perpetual Preferred Stock.

14. As of the date hereof, PSAM beneficially owns Notes with an aggregate face amount of approximately $14,285,000. PSAM additionally beneficially holds approximately $53,064,167 of the overall commitment under the Debtor’s debtor-in-possession financing facility (including prepetition loans refinanced by such facility).

15. As of the date hereof, Claren Road beneficially owns Notes with an aggregate face amount of approximately $218,768,000.

16. As of the date hereof, Cetus beneficially owns Notes with an aggregate face amount of approximately $32,975,000.

17. As of the date hereof, Raging beneficially owns Notes with an aggregate face amount of approximately $2,000,000.

18. As of the date hereof, Proxima beneficially owns Notes with an aggregate face amount of approximately $46,000,000.

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Source: KCCLLC Doc # 1249

http://www.kccllc.net/documents/1236187/1236187130122000000000028.pdf

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The original 10 member Ad Hoc group lost 3 members (Fidelity, Franklin and Blue Mountain) and added 1 new member (Proxima).

We now have 8 members in the Ad Hoc group and some claim amount holdings have changed as well:

First Pacific originally held a claim of $151,323,000 and still maintains that amount. NO change.

SMH originally had a claim of $143,256,000 and they decreased that claim to approx $129,854,000.

Canyon originally had a claim of approximately $87,760,000 and they increased their claim to approx $92,760,000.

PSAM originally had a claim of approximately $17,450,000 and they decreased their claim to approx $14,285,000.

Claren Road originally had a claim of approximately $91,655,000and has increased that amount to approximately $218,768,000.

Cetus originally had a claim of approximately $14,975,000 and now has increased that amount to approximately $32,975,000.

Raging orginally had a claim of approximately $58,650,000 and decreased that claim to approximately $2,000,000.

The total Ad Hoc Claim on 2nd Lien Notes is approx $688 Million which represents approx 45% of the entire $1.5 Billion dollar claim.

It should also be noted that 2 of the Ad Hoc members (First Pacific & PSAM) are also members of the DIP facility consortium of lenders.