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BKUNQ is going 6 cents plus tomorrow.
Could run past 10 cents in less than 30 minutes on the mention of $45 million.
with only 35M O/S, no telling what this stock may do tomorrow
Maybe. Like I stated earlier trading in these stocks sometimes does not reflect the true facts of the bankruptcy.
Even though the bank never gets to keep any portion of the 45 million dollars, under any scenario based on court documents, this stock can still trade in unexpected ways if investors choose to ignore it.
The reason why this will run is because a company trading at just over 1 cent is involved with an amount of $45 million dollars.
I should have clarified more.
I should have stated either the FDIC gets all the money or just some as an unsecured claim while the rest would be applied to other claims depending on the appeal decision.
The FDIC has a Class 4 General Unsecured claim for 45mm.
The POR/DS clearly spell out that the Class 4 claims will have a range of 200k to 45,200,000 ( notice the difference is 45mm) based on the decision of this order.
If the FDIC win on appeal they receive the whole 45mm and the Class 4 claims become 200k.
If the bank wins on appeal the 45mm must go into the net free cash that will be used to satisfy the Class 3 Senior Notes and the Class 4 Unsecured Claims thereby increasing the pro rata distribution to both classes under the POR/DS. (This is the current scenario based on today ruling).
The bank gets nothing to keep in it's coffers irregardless of this decision or the appeal.
Trading in Q stocks is a totally different subject from the details of the BK case.
Many Q stocks can be lucrative trading vehicles all during the process irregardless of the ultimate result to common shares.
That does not alter the facts of the case.
You are looking at claims and you have no idea how many assets the company has and why there is geting ready to be a big cash infusion. How many shares do you own? Let me guess. NONE!
I only have 16,000 shares they would not fill me. But facts are facts in the stock or not this is a big game changer!
Well there is never any assurance about anything. You are not calculating all the assets the bank has you are just looking at the negative.
Please do so. Looking forward to it.
The FDIC gets it as ruled by the Judge as per the settlement of the 1 billion + in claims the had.
Not only does it say it in the press release today it is in the screenshot.
And I didn't ignore the other news.
There is no numbers to comment on, place value against the estate, or anything else in that release.
And this is the line that stood out the most to me....
I will be posting all of Wednesdays news that you guys missed so you can see big picture. Be back at 10.
News from past few days does change everything. Been here before seen it!
Well someone must get it? Plus you ignored the main news the bigger news!
http://www.xe.com/news/2011/10/19/2226501.htm?utm_source=RSS&utm_medium=TL&utm_content=NOGEO&utm_campaign=News_RSS_Art12
False.....
This news http://www.xe.com/news/2011/10/19/2226501.htm?utm_source=RSS&utm_medium=TL&utm_content=NOGEO&utm_campaign=News_RSS_Art12
Plus th $45 million news changes all previous disclosure statements.
I think you missed yesterdays news like most did. Today's news was just icing on the cake.
http://www.xe.com/news/2011/10/19/2226501.htm?utm_source=RSS&utm_medium=TL&utm_content=NOGEO&utm_campaign=News_RSS_Art12
Most logical explanation of course.
cant be a person cause it bypassed the bid so it has to be the mm somehow?
From the Disclosure Statement.....
Not only are Class #7 common shareholders getting nothing, Class #6 preferred shareholders are getting nothing, but Class #3,4,5 are only receiving a fractional percentage of their overall claims.
Absolute Priority Rule is in effect for Common Shareholders
http://www.scribd.com/doc/69645148/BUFC-Disclosure-Statement
The 45 million that could possibly be recovered from the 'big ruling' won't even dent that, or effect the commons at all.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68191283
http://www.otcmarkets.com/stock/BKUNQ/news
From the Disclosure Statement....
http://www.scribd.com/doc/69645148/873
And 75 million dollars is not going to help when you owe this much money out....
http://www.scribd.com/doc/69641249/BUFC-20-Largest-Creditors
That was at total BS close. Talk about manipulation or idiot...they can decide!
Interesting! This could be a runner starting tomorrow, into next week... Nice News.
That was some MM trick funkery!
BKUNQ .012 close~ what do we have here???
Bankruptcy Court Announces Ruling for BankUnited Financial Corporation on Ownership of Tax Refunds
MIAMI, Oct 20, 2011 (BUSINESS WIRE) -- BankUnited Financial Corporation, a Florida corporation and debtor-in-possession (the "Company"), announced that the United States Bankruptcy Court for the Southern District of Florida on October 19, 2011 announced a ruling in the Company's favor relating to the ownership of anticipated federal tax refunds in the estimated amount in excess of $45 million. United States Bankruptcy Judge Laurel M. Isicoff announced that she will issue a written decision and order granting the Company's motion for summary judgment and denying the cross motion for summary judgment filed by Federal Deposit Insurance Corporation as Receiver (the "FDIC-R') for the Company's failed bank subsidiary. The effect of the ruling is a determination that the Company's bankruptcy estate is the sole owner of the tax refunds, subject to the right of the FDIC to receive the first $7.5 million of the refund and assert a general unsecured claim against the estate of $45 million under a prior settlement agreement approved by the Court. The written ruling is expected to be issued within the next two weeks, and the FDIC is expected to appeal the decision.
This information set forth above contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's current beliefs, plans and expectations. Words such as "expects," "may" or similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in or anticipated by such forward-looking statements due to a variety of factors.
mocket makers got themselves 60k shares for 1cent at the last minute of trading.
I had order to buy in at .025 but no fill. Bums!
how did this just hit 12 with the bid at 25.
Anybody else see this from yesterday?
(Reuters) - Bankunited Financial Corp:
* Says its financial advisor has been soliciting expressions of interest from
third parties
* Says expressions of interest in connection with an equity infusion
transaction with the company
* Says received initial indications of interest from two parties
* Each of the parties conducted due diligence on co and participated in
numerous in-depth discussions
* Says there can be no assurance, however, that the search will result in a
transaction
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here)
COPYRIGHT
Copyright Thomson Reuters 2011. All rights reserved
Several briefs yesterday but I only see them on Schwab. Found one other link below.
http://www.xe.com/news/2011/10/19/2226501.htm?utm_source=RSS&utm_medium=TL&utm_content=NOGEO&utm_campaign=News_RSS_Art12
they wouldnt fill me so i..
..
pulled it and look, someone got 25. very odd. i guess they fill who they want and it was not going to be me.
let me know if you need help w/the filters
Thanks. they have a 30 day free trial going on right now so I think I will try it. GLTA
i raised my bid, still not showing. but its there, so others bids might not be showing either. tech, im next in line from what i see, but who knows.
the msg board showing bid of 025 but L2 shows 01 odd
i was going to say that earlier. not showing all the cards
woops, never mind.
equity feed. not cheep but once you use it you wont want to be without it
not sure why, but mm not showing my bid at .023. i paid the ask, and now im supporting the bid but i dont see it on L2.
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16:22 | BKUNQ | BankUnited Financial Corporation Class A Common Stock | 3/13/2012 | 100 | Plan of Bankruptcy Effective. Shares have been cancelled.** |
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