BANKRUPTCY PLAYS (CHAPTER)

[Enterprising Investor]

And that’s the part that doesn’t make sense…

[AKAPAK]

Commons 5.3 Mil o/s according to TDA With $3 mil available nets about ,566 share.

Current ask is .46 Not enough wiggle room for the risk of variances imo.

Thanks for the posting

[Enterprising Investor]

PRET

Preferred stockholders may receive $7 million for their $472.7 million in liquidation value.

The average preferred share has a liquidation value of $30.80; the resulting payout would average $0.456 per share.

I will not be providing a payout for common because the math simply does not make sense.

[Enterprising Investor]

PRET

WARNING: PREFERRED AND COMMON EQUITY MAY RECEIVE IMMATERIAL TOKEN PAYMENT

Equity Payment: Existing Preferred and Common Shares of PREIT will be canceled and PREIT will no longer be a publicly traded company. An aggregate $10 million payment, net of costs defined in the Prepackaged Plan and subject to certain conditions, will be provided to holders of the existing Preferred and Common Stock. The payment, if made, will be allocated as follows: 70% for Preferred shareholders and 30% for Common shareholders.

[Enterprising Investor]

PRET

PREIT Takes Steps to Significantly Strengthen Balance Sheet and Solidify Future of Business (12/11/23)

Focus on Delivering Exceptional Experiences for Shoppers and Tenants Continues

Enters Restructuring Support Agreement with 100% of PREIT's First and Second Lien Lenders and Commences Chapter 11 Proceedings to Implement Prepackaged Plan

PHILADELPHIA, Dec. 11, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET), a leading operator of diverse retail and experiential destinations, today announced it is taking steps to execute a comprehensive reorganization to strengthen its balance sheet, reduce its total indebtedness by approximately $880 million and extend its maturity runway. The reorganization plan (the "Prepackaged Plan") is supported by 100% of PREIT's First and Second Lien Lenders. To facilitate this process, the Company has received commitments for new money debtor-in-possession ("DIP") and exit revolver financing in an aggregate amount of approximately $135 million from a diverse group of leading investors, led by Redwood Capital Management, LLC and Nut Tree Capital Management, LP. This funding commitment, together with the unanimous support from the Company's existing lender group for the Prepackaged Plan, is a testament to the lenders' confidence in the Company's forward path and represents a crucial source of capital to support the Company's financial stability and long-term growth.

The Company's primary focus remains creating compelling retail and experiential destinations while prioritizing service to its employees, partners, customers and communities. PREIT has a rich history, as detailed in the timeline featured here. Effectuating this Prepackaged Plan will allow PREIT to continue its legacy of being an integral part of its communities as a significant employer that is committed to the transformation of its properties.

"We are pleased to be moving forward with strengthening the Company's balance sheet and positioning it for long-term success through this Prepackaged Plan. Following the pandemic disruption, PREIT has worked tirelessly to enhance the portfolio, dramatically improve occupancy and diversify its tenancy. However, unusual economic conditions have limited the Company's options with respect to its debt obligations as meaningful achievements on the operating front were met with inflation and rising interest rates," said Joseph F. Coradino, Chairman and CEO of PREIT. "Today's announcement will position a restructured PREIT to execute on strategic initiatives to continue transforming its portfolio for the tenants and communities it serves. We look forward to quickly emerging from this process as a financially stronger company with the resources and support to continue creating diverse, multi-use property experiences throughout our portfolio."

In order to effectuate the restructuring to make way for a recapitalized PREIT, the Company has filed a voluntary Chapter 11 petition in the United States Bankruptcy Court for the District of Delaware to implement its Prepackaged Plan. The filing will ensure that PREIT can continue all business operations without interruption while it obtains necessary approvals of its financial restructuring. In advance of the filing, the Company executed a Restructuring Support Agreement ("RSA") with 100% of its First and Second Lien Lenders. In accordance with the RSA, PREIT expects it will be able to emerge from Bankruptcy by early February 2024.

PREIT will pay all vendors, suppliers and employees during the course of the Chapter 11 proceedings and, pursuant to the terms of the Prepackaged Plan, which will be subject to court approval, the prepetition claims of all vendors, suppliers and employees will be unimpaired.

Under the terms of the Prepackaged Plan, a reorganized PREIT would emerge following the court-supervised process with a restructured balance sheet. Terms of the transaction are detailed in filings with the SEC and summarized below:

First Lien Lenders: First Lien Lenders have the option to receive either a cash payment equal to 100% of their claims, or instead convert their claims into term loans under the Exit Facility in an amount equal to 101% of their claims.

Second Lien Lenders: Second Lien Lenders will get their pro rata share of 65% of the new equity interests in reorganized PREIT and, Second Lien Lenders who commit to backstop the Exit Facility will receive 35% of the new equity interests in reorganized PREIT, in each case subject to subject to dilution by a customary management incentive plan.

DIP Facility: The restructuring will be supported financially through a new money DIP Facility, totaling up to $60 million, which will convert into term loans under the Exit Facility in an amount equal to 101% of the DIP facility loans.

Exit Facility: In addition, our lenders have committed to provide revolving loans and term loans under an Exit Facility, consisting of a $75 million new money revolver, if PREIT is expected to have less than $75 million in unrestricted cash upon emergence from the Chapter 11 proceedings, and exit term loans in an amount sufficient to refinance in cash or in kind the DIP facility and the First Lien Loans.

Equity Payment: Existing Preferred and Common Shares of PREIT will be canceled and PREIT will no longer be a publicly traded company. An aggregate $10 million payment, net of costs defined in the Prepackaged Plan and subject to certain conditions, will be provided to holders of the existing Preferred and Common Stock. The payment, if made, will be allocated as follows: 70% for Preferred shareholders and 30% for Common shareholders.

On behalf of the Board of Trustees, Michael DeMarco, Lead Independent Trustee, commented: "In November 2021, the Company engaged PJT Partners to engage in a process to explore all strategic options to maximize shareholder value. PJT robustly marketed the Company's properties, sought capital infusion and otherwise explored any available options. That process did not result in any options that would allow the Company to refinance or otherwise achieve value that would exceed the aggregate amount of its First and Second Lien Loans. After months of evaluation and review with our financial advisors, the Board has unanimously approved a transaction that we believe to be the alternative that maximizes the value of PREIT for all of our stakeholders. While PREIT continues to operate in a challenging market, we are pleased to arrive at an agreement with our key creditors that also provides a $10 million payment to Preferred and Common shareholders, if certain conditions are met, who otherwise would receive nothing. Based on the advice from its financial advisors, including that the value of the Company does not exceed the aggregate amount of the existing First Lien and Second Lien Loans, the Board has concluded that the consideration provided to Preferred and Common shareholders is in effect a gift resulting from voluntary agreement with the existing First and Second Lien Lenders to avoid the expense of protracted Chapter 11 proceedings and shall only be available in the event that the Equity Distribution Conditions are satisfied."

PREIT has filed a number of customary first-day motions with the court to support its operations during the court-supervised process, including the continued payment of employee wages and benefits without interruption. The Company expects to receive court approval for these requests.

Additional information, including court documents and information about the court-supervised process, is available on PREIT's restructuring website through PREIT's claims agent, Kroll, here.

DLA Piper LLP (US), Wachtell, Lipton, Rosen & Katz and Dilworth Paxson LLP are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT.

Paul Hastings LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal counsel and Houlihan Lokey is serving as financial advisor to the ad hoc group of PREIT's first lien and second lien secured lenders.

About PREIT

PREIT (OTCQB:PRET) is a real estate investment trust that owns and manages innovative properties developed to be thoughtful, community-centric hubs. PREIT's robust portfolio of carefully curated, ever-evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multifamily & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely populated regions, PREIT is a top operator of high quality, purposeful places that serve as one-stop destinations for customers to shop, dine, play and stay. Additional information is available at www.preit.com or on Twitter, Instagram or LinkedIn.

https://www.prnewswire.com/news-releases/preit-takes-steps-to-significantly-strengthen-balance-sheet-and-solidify-future-of-business-302010955.html#:~:text=PHILADELPHIA%2C%20Dec.%2011%2C%202023,%24880%20million%20and%20extend%20its

[TRUSTUNITS1000000]

Made a while back Xnnhq

[TRUSTUNITS1000000]

Nice to buy the properties

[TRUSTUNITS1000000]

Sears had properties

[TRUSTUNITS1000000]

What happened to bbb

[TRUSTUNITS1000000]

Bed bath Beyond situation comments

[TRUSTUNITS1000000]

Interesting board

[Netcool]

TBPMF - Tetra Bio-Pharma just volunteered for Bankruptcy today:

https://www.marketscreener.com/quote/stock/TETRA-BIO-PHARMA-INC-49478120/news/Tetra-Bio-Pharma-Voluntary-Bankruptcy-44482077/
https://tetrabiopharma.com/
https://tetrabiopharma.com/pipeline/

[Golden Cross]

$CYXTQ At this level we are headed to dimes and quarters.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172309453

[Magnum7419]

$CYXTQ Court Filings 6/29/2023
Acceptable Bidder Deadline. July 10, 2023, at 5:00 p.m.
Stalking Horse Bidders and Bid Protections July 24, 2023
Auction if needed, August 7, 2023, at 10:00 a.m.

[eom7]

Have you looked at INTEQ? IntelSat?

[Quintessence]

TUEM (formerly TUESQ) trading after emerging from Chapter 11.

Tuesday Morning Successfully Completes Restructuring Process

https://www.globenewswire.com/news-release/2021/01/04/2152672/0/en/Tuesday-Morning-Successfully-Completes-Restructuring-Process.html

[Enterprising Investor]

PREIT Successfully Completes Financial Restructuring (12/11/20)

- New Capital Strengthens Balance Sheet and Extended Maturity Schedule Increases Financial Flexibility

- All Properties Are Open, Serving Consumers, and Ready for the Holiday Season

PHILADELPHIA, Dec. 11, 2020 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of diverse retail and experiential destinations, today announced it has successfully completed its financial restructuring and emerged from Chapter 11 following an expedited process.

Consistent with previous announcements, PREIT now has access to up to $130 million of new capital to support its operations and continue advancing its strategic priorities. In addition to recapitalizing its business, PREIT's debt maturity schedule has been extended, providing the Company with enhanced financial flexibility.

Throughout the restructuring process, PREIT has continued operations as usual and met all obligations to tenants, suppliers and the communities in which it operates. In addition, suppliers and other trade creditors and business partners were unimpaired, and all suppliers and employees have been, and will continue to be, paid in full. The Company's common stock will continue to trade on the New York Stock Exchange (NYSE) under the same ticker symbol PEI. Moving forward, PREIT will continue to offer distinctive retail and experiential destinations as it moves to transform its portfolio of bullseye locations in high barrier-to-entry markets into multi-use sustainable districts incorporating an array of new uses, while prioritizing the health and safety of its employees, partners, customers and communities.

"We have significantly strengthened the Company thanks to the overwhelming support of our financial stakeholders, as well as our employees, customers, communities and business partners," said Joseph F. Coradino, CEO of PREIT. "Having quickly and efficiently completed our financial restructuring, PREIT is now a more resilient company with additional resources and financial flexibility to continue delivering terrific experiences for consumers and outstanding service for our retail partners. PREIT has a history of being a first-mover in adapting to new trends in retail and will continue to stay ahead of the emerging concepts and uses across our portfolio."

Coradino continued, "On behalf of all of us at PREIT, I thank our tenants, suppliers, and other business partners for their support throughout this process. I am also deeply grateful to our dedicated employees for their hard work and unwavering commitment to working safely, delivering great experiences and executing our winning strategy."

DLA Piper LLP (US) LLP, Faegre, Drinker, Biddle & Reath LLP and Wachtell, Lipton, Rosen & Katz are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT.

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages innovative properties at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter, Instagram or LinkedIn.

https://www.prnewswire.com/news-releases/preit-successfully-completes-financial-restructuring-301190970.html

[Enterprising Investor]

PEI - Effective Date has occurred (12/10/20)

3. Effective Date. On December 10, 2020 (the “Effective Date”), each of the conditions precedent to consummation of the Plan enumerated in Section 8.2 of the Plan were satisfied or waived in accordance with the Plan and the Confirmation Order, and the Effective Date of the Plan occurred.

https://cases.primeclerk.com/preit/Home-DownloadPDF?id1=MTc2NzE0MA==&id2=0

[eom7]

Are you following INTEQ?

[Enterprising Investor]

PRE - PREIT expects that the effective date of the Plan (as defined in the Plan, the “Effective Date”) will occur as soon as all conditions precedent to the Plan have been satisfied and on a date selected in consultation with the Requisite Consenting Lenders and Requisite Consenting Bridge Lenders. Although the Debtors are targeting occurrence of the Effective Date on or before December 6, 2020, the Debtors can make no assurances as to when, or ultimately if, the Plan will become effective. It is also possible that further technical amendments could be made to the Plan.

https://www.sec.gov/ix?doc=/Archives/edgar/data/77281/000119312520310736/d50993d8k.htm

[Enterprising Investor]

PREIT's Prepackaged Financial Restructuring Plan Confirmed By Court

- Company Expects to Emerge from Chapter 11 in early December with Strengthened Balance Sheet and Enhanced Financial Flexibility (11/30/20)

- All Stakeholders to be Unimpaired and All Claims to be Paid in Full

- With holiday season in full swing, All PREIT Business Operations Continue Without Interruption

PHILADELPHIA, Nov. 30, 2020 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of diverse retail and experiential destinations, today announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has confirmed its prepackaged financial restructuring plan (the "Prepackaged Plan"). PREIT expects to complete its financial restructuring and successfully emerge from Chapter 11 in early December.

Upon emergence, PREIT will have access to $130 million of new financing to support its operations and the continued execution of its strategic priorities. In addition to recapitalizing the Company, PREIT's debt maturity schedule will be extended. The Company will be well-positioned to continue offering compelling retail and experiential destinations while prioritizing the health and safety of its employees, partners, customers and communities.

"We look forward to emerging from this process as a stronger, more innovative platform for our business partners," said Joseph F. Coradino, CEO of PREIT. "We were able to reach this outcome on an expedited basis thanks to the overwhelming support of our lenders, as well as the continued support of our employees, customers, tenants and vendors. We will remain focused on operating safely, responsibly and efficiently while maintaining a strong balance sheet."

Coradino continued, "I want to thank the entire PREIT team for continuing to perform at the highest level throughout this process during the busiest time of year for our business. We are proud that we have continued to deliver terrific experiences in the communities in which we operate and outstanding service for our retail partners throughout our financial restructuring process and the ongoing COVID-19 pandemic. PREIT properties play an essential role in the economy of the communities in which we operate, creating jobs, preserving tax revenue and ensuring the vitality of key focal points. We look forward to a brighter future for all PREIT stakeholders as we move forward as a financially stronger company."

Additional information, including court documents and information about the court-supervised process, is available on PREIT's restructuring website through PREIT's claims agent, Prime Clerk at https://cases.primeclerk.com/PREIT.

DLA Piper LLP (US) LLP and Wachtell, Lipton, Rosen & Katz are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT.

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages innovative properties at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter or LinkedIn.

https://www.prnewswire.com/news-releases/preits-prepackaged-financial-restructuring-plan-confirmed-by-court-301181888.html

[Golden Cross]

BRTX News Emerged from Bankruptcy

[Netcool]

Thoughts on AREXQ? Energy company that was bought out by Zarvona energy. Looks like commons are not saved but the Wilks brothers have about 45 million shares which have not been sold. Was thinking this would be a shell to be bought down the road?

[maent]

I agree. I've added some to my freeroll from before. I strongly believe we have a better than 60% chance. I'll throw another grand or so at it soon. GL all.

[HeavenBound]

$LKSDQ another green day +17%; this after Monday’s +46% gain!!! Atlas makes over $6 Billion per year, and $LKSDQ made $3.2 Billion last year! Really loving my odds @ 2 cents per share! $LKSD

[maent]

LKSDQ is in the end game. Atlas and Creditors have agreed to purchase the companies assets and stock. Awaiting final verbiage. Should be an interesting next week or 2. GL

[oich]

Q stocks to check out:

BRTXQ
FNBCQ

[3dcg]

sorry wrong board

[UpTickMeA$AP]

HCR to HCRSQ hit yesterday, and had a nice 40% drop.

[The Man With No Name]

LLEXQ Today is first day trading.

[UKdude]

Check CHK tomorrow



06/29/2020 10:20:13 Financial Status Change Bankruptcy = Q 06/30/2020 00:00:00 Chesapeake Energy Corporation Other OTC


https://otce.finra.org/otce/dailyList


Looks like it opens tomorrow... probably CHKQ?

[eom7]

JASNQ too

[eom7]

Watching: PYXSQ, AKRXQ, AREXQ, INTEQ

[Majic]

UNTCQ - Unit Corporation.
Another oiler...

[jdp2000]

LBYYQ filed 06/01/20

LBYYQ bid .11 ask .129 was 21 cents yesterday !

Libbey’s international subsidiaries in Canada, China, Mexico, the Netherlands and Portugal are
not included in the Chapter 11 proceedings and are operating in the normal course of business


https://libbeyrestructuringinfo.com/wp-content/uploads/2020/06/Libbey-Investor-FAQ.pdf

[mick]

thank you, $$$$$

ree;
Hertz also filed for Ch.11 over a week ago, but still hasn't got the 'Q'

[Majic]

Hertz also filed for Ch.11 over a week ago, but still hasn't got the 'Q'

[Majic]

DOFSQ on the move. Closed today at .371

[mick]

any updates for recent bankrupt filings ????? Q's

[Majic]

Intelsat files for Ch. 11 - Now INTEQ

Technology News
May 13, 2020 / 6:12 PM
Intelsat files for Chapter 11 bankruptcy
Rama Venkat

(Reuters) - Satellite operator Intelsat SA said late on Wednesday that it filed for Chapter 11 bankruptcy protection, making it the latest casualty of severe business disruptions caused by the COVID-19 pandemic.

The company listed assets and liabilities in the range of

https://www.reuters.com/article/us-intlsat-bankruptcy/intelsat-files-for-chapter-11-bankruptcy-idUSKBN22Q0E0

[Majic]

Akorn (AKRX) files for Ch.11.

Akorn to Use Voluntary Chapter 11 Process to Position Business for Long-Term Success
[PR Newswire]
PR NewswireMay 20, 2020

Continues Operations as Usual, Delivering Safe and Effective Products to Customers and Patients

LAKE FOREST, Ill., May 20, 2020 /PRNewswire/ -- Akorn, Inc. (Nasdaq: AKRX), a leading specialty pharmaceutical company ("Akorn" or the "Company"), today announced that the Company and its U.S. subsidiaries filed for voluntary protection under Chapter 11 ("Chapter 11") of the U.S. Bankruptcy Code in United States Bankruptcy Court for the

https://finance.yahoo.com/news/akorn-voluntary-chapter-11-process-035200579.html

[sludgehound]

J.C. Penney files for bankruptcy, stock falls 29%
Today 6:53 PM ET (MarketWatch) 0.165 -0.0713 DIP $900M
J.C. Penney Co. Inc. (JCP) said late Friday that it had filed a Chapter 11 petition for the reorganization of the company and entered into a restructuring agreement with lenders holding roughly 70% of a portion of the company's debt. Shares of J.C. Penney fell 29% in the extended session. "The coronavirus (COVID-19) pandemic has created unprecedented challenges for our families, our loved ones, our communities, and our country," J.C. Penney Chief Executive Jill Soltau said in a statement. "As a result, the American retail industry has experienced a profoundly different new reality, requiring JCPenney to make difficult decisions in running our business to protect the safety of our associates and customers and the future of our company." The company said it would continue operations and that it had $500 million in cash as of the Chapter 11 filing date. It also said that it had received commitments for $900 million of debtor-in-possession financing from its existing debt holders. The company expects the money will be sufficient to meet its operational and restructuring needs. As part of its reorganization, J.C. Penney said it planned to close stores in phases, the first of which it will announce in the "coming weeks."

-Max A. Cherney; 415-439-6400; [e-mail]

(END) Dow Jones Newswires

May 15, 2020 18:53 ET (22:53 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

[XBRIANX]

MOVIEPASS AINT DEAD YET -= Lots of money to be made here - especially at these levels - Upcoming news $HMNY

Liquidation Asset sale coming up WITH **75 BIDDERS**
( page 9 for details )
http://www.kccllc.net/helios/document/list/5137

Ongoing massive $$ lawsuit for copyright infringement if Moviepass Intellectual Property and lost revenue
https://www.pacermonitor.com/public/case/23787170/MoviePass_Inc_v_Sinemia_Inc

AMAZON making an active and long speculated jump into the Brick and MOrtar MOvie industry - Vested interest in buying Moviepass software and patents to preserve3 their profit line and control movie theater industry https://variety.com/2020/film/news/amc-entertainment-amazon-acquisition-stock-1234603290/

[Majic]

I like DOFSQ. Things will get very interesting there.

[The Man With No Name]

DOFSQ

[sludgehound]

JCP seeks @ $1B DIP in Bankrupt likely next wk
best Bk plays are those that have DIP coverage if can get for pennies like $0.15 and flip like done in Sears Bk initially

J.C. Penney seeking around $1 billion in bankruptcy funding: report
Today 9:08 PM ET (MarketWatch)

J.C. Penney Co. Inc. (JCP) is in advanced talks for bankruptcy funding, and is seeking a loan package of $800 million to $1 billion, the Wall Street Journal reported (https://www.wsj.com/articles/j-c-penney-in-advanced-talks-for-bankruptcy-financing-11587688846?mod=hp_lead_pos4) Thursday night. The Journal reported that the troubled retailer is in talks with existing lenders including Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co. for a debtor-in-possession loan that would keep the company's operations running during the bankruptcy process. A bankruptcy filing could come in the following weeks, the report said. Retailers, especially department stores, have been hard-hit by the coronavirus-related shutdown. Last week, Cowen analysts estimated that J.C. Penney had about seven months of operating cash left (http://www.marketwatch.com/story/nordstrom-can-withstand-12-months-of-store-closures-but-other-department-stores-have-much-less-time-analysts-say-2020-04-13). Penney's stock has tumbled 75% year to date, compared to the S&P 500's 13% decline.

-Mike Murphy; 415-439-6400; [e-mail]

(END) Dow Jones Newswires

April 23, 2020 21:08 ET (01:08 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

[PENNIEStoSTACKS]

LKSD OFFICIALLY FILED CHAPTER 11 https://ih.advfn.com/stock-market/USOTC/lsc-communications-qx-LKSD/stock-news/82213758/current-report-filing-8-k

After being beat into the ground from a leeked Bloomberg report

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-03-23/printer-lsc-communications-is-said-to-prepare-bankruptcy-filing

[sludgehound]

QHC on hairy edge

Quorum Health Fell 56% on Shift in KKR Credit Advisors Talks
6:23 pm ET March 11, 2020 (Dow Jones)
By Josh Beckerman

Quorum Health Corp. shares fell 56% to 48 cents Wednesday after KKR Credit Advisors LLC said late Tuesday that transaction discussions shifted from a buyout plan to a reorganization with "no assurances" that stockholders would receive any consideration.

The proposal for the hospital operator, disclosed in December, called for a buyout of public shares held by minority holders for $1 each.

Quorum said late Wednesday that it "continues to engage in constructive discussions with KKR and other debt holders regarding a potential recapitalization or financial reorganization transaction." Shares rose 2 cents to 50 cents after hours.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

March 11, 2020 18:23 ET (22:23 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

[Majic]

Who will be the next NYSE, NASDAQ, or AMEX listed company to declare bankruptcy?

[barnyarddog]

corporate debt has already sealed the fate of the Everything Bubble.

Global corporations with the most VISIBLE debt include:

AT&T with $180 billion

SoftBank with $154 billion

Apple with $136 billion

Verizon with $114 billion

Comcast with $112 billion

AbInbev with $110 billion

General Electric with $115 billion

Shell with $77 billion

Microsoft with $67 billion

https://www.zerohedge.com/markets/corporate-debt-bubble-train-wreck-slow-motion