InnKeepers Trust Pref''d Series C (fka INKPQ)

[Renee]

Ah, I see. One of my volunteer tasks is to post all SEC and FINRA actions to ensure accurate information is presented for all affected stocks, and occasionally other I-Hubbers may refer to my posts that contain links to the official SEC or Finra actions.

Cheers back to you, Daisyxu.

[daisyxu]

My apologies, a member "sidedraft"

Cut and pasted a link with your name on it on the lehnq board. Got confused and thought you made a post on the lehnq board when following the thread... :)

[Renee]

Daisyxu.....I haven't followed the Lehman BK, nor have I ever owned any class of Lehman shares.

[daisyxu]

Heheh

"There exists in society a very special class of persons that are always referred to as the Believers. These are folks who have chosen to accept a certain religion, philosophy, theory, idea or notion and cling to that belief regardless of any evidence that might, for anyone else, bring it into doubt. They are the ones who encourage and support the fanatics and the frauds of any given age. No amount of evidence, no matter how strong, will bring them any enlightenment. --James Randi"

Nice favorite quote... I feel we are surrounded by Lehman Believers here on this board. Hopefully we are fanatics for a belief that ultimately makes us all a great deal of money...

GLTA

[daisyxu]

Wow, and I was impressed by

Joe's followership...you're pushing almost 1,000 followers...

Renee, do you own any Lehman CTS, preferreds, and or commons? What's your take on recent developments for Lehman bk proceeding?

Cheers,
Daisy

[sidedraft]

The money is now in my account, bye-bye INKPQ.

DELETE   4576J0401   INKPQ   INNKEEPERS USA TR PFD SER C 8.0% (MD) 12/30/2013 

http://www.dtcc.com/globals/pdfs/2013/december/30/otc-251.aspx

[sidedraft]

What kind of accounting is in use here?



The real LAST was .03, from 12/27.

My broker says that I am to receive the .258112/Share monies today.

[Renee]

I was hoping this was good news for you, friend. Some recovery is so much better than no recovery.

I so want 2014 to be a good, healthy year for you!

[sidedraft]

Thanks for posting that. That made my day!

No wonder I couldn't get any more shares today at .001. LOL

[Renee]

INKPQ: Final liquidating distribution ($0.258112/share). Transfer books closed on 12/19/2011. Ex Date: 12/30/2013

Finra deleted symbol.

http://www.otcbb.com/asp/dailylist_detail.asp?d=12/27/2013&mkt_ctg=NON-OTCBB

[sidedraft]

Damn, I'd like to see a buck or two.

[jwnoble3]

Interesting action today...

INKPQ : Pink Sheets INNKEEPERS USA TRUST

Last: 0.005
Change: +0.0049 (4,900.00%)
Bid/Size: 0.00/0
Ask/Size: 0.00/0
Volume: 593900

[sidedraft]

Oh no, the sky has fallen, again:

Current pps is now back down to .0001, volume 400 shares.

[sidedraft]

So the question is, what do we get?

The Innkeepers USA Trust Preferred A
Interests shall be treated as pari passu with the Innkeepers USA Trust Preferred C Interests.

http://www.omnimgt.com/cmsvol/cmsdocs/pub_45890/335636_2377.pdf

Page numbered 57

What happened to the Innkeepers USA Trust, 8.625% Series A Convertible Preferred Shares? Were they converted to commons?

[sidedraft]

Good link:


http://www.omnimgt.com/sblite/templates/a/Default.aspx?clientId=CsgAAncz%2b6ZKD8BOSMzHQYDUFL72gLqUNwtjYiYunMJkGyhC3pvux6vAxTEbXTL2ouiExJta6Kw%3d

[sidedraft]

So, are there any coins in the piggy bank for us?


http://www.omnimgt.com/cmsvol/cmsdocs/pub_45890/259849_1800.pdf

[sidedraft]

Sometimes it's cheap, sometimes not:

[sidedraft]

468 shares at .0001, I hope that guy is enjoying himself.

[sidedraft]

I have a test sell at less than a nickle, should someone want 10,000 shares.

[sidedraft]

Looks like someone with a bunch of free trades is having a good time.

[jwnoble3]

From what I can find, looks likke Cereberus bought the Chatham trust. But it looks like the Anaheim and Ontario trusts are still not sold (I cannot find anything). Also, could not find any creditor distros.

[sidedraft]

Thank you very much. Just reading what you shared looks great for Series C. I'll read through #1804 later today.

[jwnoble3]

Check out docket #1804 (specifically pdf pg #93 and 94)

http://www.omnimgt.com/SBLite/Templates/A/DocumentsList.aspx?clientId=CsgAAncz%2b6ZKD8BOSMzHQYDUFL72gLqUNwtjYiYunMJkGyhC3pvux6vAxTEbXTL2ouiExJta6Kw%3d&tagid=174


217. The distribution provisions under the Remaining Debtor Plan under which, after payment of certain allowed claims, the Innkeepers USA Trust Preferred C Interests share in the
$7.4 million of cash, the proceeds of the Chatham Hotel Sale Transaction, and other available assets, shall not be changed adversely to the Innkeepers USA Trust Preferred C Interests absent
the consent of the Ad Hoc Committee.
218. Holders of Innkeepers USA Trust Preferred C Interests and the Ad Hoc Committee shall be deemed to be Fixed/Floating Releasing Parties, Anaheim Hotel Releasing Parties, and Ontario Hotel Releasing Parties; and the Ad Hoc Committee shall be a Remaining Debtor Releasing Party.

This agreement was included and agreed to in the POR (see pdf pg 60)
http://www.omnimgt.com/CMSVol/CMSDocs/pub_45890/259849_1800.pdf

[sidedraft]

I don't know of any distro.
Where are you "quick reading"?

[jwnoble3]

Have the pref holders received any distros yet? Looks like there is still a chance depending on what the remaining assets sell for (after quick read looks like pro rata sh is ~6%) Chatham trust was sold to Cerberus for 1.1b

[sidedraft]

Picture of a crapshoot:

[sidedraft]

Looks like someone bought 146,300 shares on the 21st, and changed their mind and sold 146,300 today.

Or, someone likes to buy in 146,300 blocks.

[Honest_Devan]

lol 3 cents

[sidedraft]

Deep pockets?
3¢ transaction, 300 @ .0001 11:28:17 11/20/2012

[sidedraft]

A person could get whiplash watching these prices zoom up and down:

http://ih.advfn.com/p.php?pid=historical&symbol=INKPQ

[sidedraft]

Who get to make a 4.1¢, or a 2¢ transaction, and why?

[sidedraft]

Up a mere 3200%, at .0033, on a whopping 300 share trade.
Good fun for someone for 99¢.

[sidedraft]

Up 900%, so what.

[sidedraft]

Gotta love those 40¢ trades.

[sidedraft]

Up 9900% today, at a buck.

[sidedraft]

Yup, it's almost dead.

[mkinhaw]

.001 today
MK

[sidedraft]

Make that 15¢ now.

[sidedraft]

Well then, 16¢ it is.

[sidedraft]

Dull, no filings in almost 2 months.

[sidedraft]

The latest court document, as of 5/19/2012:

Withdrawal of Claim(s): Palm Beach County Tax Collector (Claim No. 1734) filed by Rust Consulting/Omni Claims Agent.

http://www.omnimgt.com/CMSVol/CMSDocs/pub_45890/294639_2373.pdf

[sidedraft]

Down 15% today. At least it's not dead.

[sidedraft]

According to the POR, we are:


Class R8 Innkeepers USA Trust Preferred C Interests Impaired Entitled to Vote

http://www.omnimgt.com/CMSVol/CMSDocs/pub_45890/259849_1800.pdf Page 32

[sidedraft]

Here is a link to the Bankruptcy stuff:

http://www.omnimgt.com/SBLite/Templates/A/Default.aspx?clientId=CsgAAncz%2b6ZKD8BOSMzHQYDUFL72gLqUNwtjYiYunMJkGyhC3pvux6vAxTEbXTL2ouiExJta6Kw%3d

[sidedraft]

About these preferreds:

http://www.innkeepersusa.com/pdf/revisedwebsitedisclosure4Q09.pdf

[sidedraft]

Looks like the price is .21, come hell or high water.

[Phull1]

Almost the exact same thing (price and vol) happened on Jan 24th this year with little to no action in between. Hmmmm.....

[sidedraft]

Big transaction today, 578,000 shares at 50¢
That's over 10% of the existing shares, O/S = 5.2 million shares.