In any case, there is no definitive answer until closure. Not sure where you are coming from as you decided to be vague.
With this in particular, one either wins big or loses big.
Just whatever you read.
What would you like to say about them?
Have you been reading the filings?
Let’s Go !!!!
106,000 shares traded now.
If only…let’s go cotrp, still holding my 7068 shares or whatever you call them
Been a long journey…
A little light at the end of the tunnel would be cool…
I think good things are coming.
Quarterly out soon.
Will be a big deal for longs
Another settlement from a Retailer from 5 years ago - https://www.retaildive.com/news/toys-r-us-creditors-reach-resolution-former-execs-lawsuit-bankruptcy/634240/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-10-17%20Retail%20Dive%20Newsletter%20%5Bissue:45315%5D&utm_term=Retail%20Dive
There are similarities to our case in my opinion.
Will watch for the next quarterly statement and post it, or will post a link. The case may be processing claims until Dec 31, 2023. We may not know what we get, if anything, until then. Would be nice if we get something from the runoff notes. I get updates from the docket, will pass it on if something that looks juicy comes up.
That doesn’t mean anything. They won’t ever return a PPS value.
The value at this point is enforced by either
1) Bankruptcy court
2) Private individual lawsuit or party to a lawsuit
3) This earn out agreement may pay something after the 2nd year. We got nothing after 1 year and it is profit sharing based. So if SPG/JCP don’t turn a profit, we get 0 from this is how I understand it
I think it’s likely each share will eventually return a minimum of $1-2 without doing anything. It could go much higher, but probably not to $25. Technically it could also just default completely and be $0, but that’s an absolutely worse case.
Wamu was indeed an egregious offender in packaging up toxic mortgages and selling them to Greece, and others, getting them off their books. Greece's economy blew up badly partially from that.
I’d like to subpoena Jill. Maybe I will.
If the post bankruptcy JCP had to pay legal debt obligations rather than getting those dismissed in bankruptcy court, then they wouldn’t be talking about the great performance post bankruptcy.
All that stimulus that hit checking accounts of Main Street in 2020 was a lost opportunity to stay in operation (rather than entering bankruptcy). JCP also claimed sufficient liquidity right before the govt shut down the economy as well. You would imagine there would be a force majeure clause within those debt obligations that could have been claimed. But Soltau wanted the easy way out with that million dollar retention bonus.
There could be an interesting case to be made against old and new.
The new management saved a failing company… literally over night
Need more than that, but it’s a start!
I was in Wamu way back when. I got out when all that buffoonery took place with the bailouts and new rules were put in place (or made up). There were very few that benefitted at the expense of shareholders and debt holders, but benefitted they did.
JCP hired a new CFO... Comments made about JCPenney's performance indicate that Simon got a great deal. For those that don't know, JCPenney's biggest event of the year (outside of Holidays) was their back to school promotions. Here's the article - https://www.retaildive.com/news/jc-penney-hires-chief-financial-officer-stephanie-plaines-jones-lang-lasalle/629589/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-08-12%20Retail%20Dive%20Newsletter%20%5Bissue:43807%5D&utm_term=Retail%20Dive
I never understood why Lambert kept dumping all that money into Sears.
I forget what our class is.. Something like 1.2 billion owed?
As long as 98M goes to COTRP first, I’m good.
With a 100 years of interest though, that’d be even better
Thanks, GBE. I am still involved in the Washington Mutual bankruptcy since 2008.
Sometimes it takes a while - https://www.retaildive.com/news/sears-holdings-175m-settlement-eddie-lampert/629425/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-08-11%20Retail%20Dive%20Newsletter%20%5Bissue:43775%5D&utm_term=Retail%20Dive
Obviously different situations. I think JCP was a bigger screw job than Sears was.
I guess we will have our final answer 12/31/23.
Next quarterly bankruptcy report filed with the court. No changes, except final report now anticipated 12/31/2023. So Merry Christmas, and Merry next Christmas too.
I have not. I declined to join their cause. If they are successful, we would have some kind of precedent for recovery from US Bank. I think anyway.
Happy 4th everyone!
I think that was someone trying to find information about other board posters. I don't know why.
I’m up in Canada haven’t tried to put a order in for a while but I still think we can buy but it but it’s expensive
Yeah. I placed an order with my broker and got the standard rejection message I always see:
No orders because of SEC rule 15c2-11
So not cancelled or delisted and I think it’s just a ihub fluke
No mine are in my account still. I also follow the Lehman board and when that went away I was like oh I guess bk is over and the notices jcp and others gone also and was back to the waiting game lol
Yeah I couldn’t find this board either. Lol.
I was wondering if it got cancelled because it’s been (un)quoted by the Expert (Gray) Market.
But that doesn’t appear to be the case. I don’t think so anyway.
Same with me on my iHub. All my q plays I like to watch are gone off my monitor. I wonder why
That sounds reasonable. The reports have everything, and the estate doesn't have to spend thousands putting it out.
Is maybe because they didn't file a 8-K for the semi annual distributions???