[8lang]

Very busy ! 😅

1238
Stipulation By J. C. Penney Direct Marketing Services LLC and Donna Georgio. Does this document include an agreed order or otherwise request that the judge sign a document? Yes. (Filed By J. C. Penney Direct Marketing Services LLC ).

Attachments:
Related: 11/03/2023

[footballref-8541]

This looks promising.

[8lang]

End very near !

1237
Motion for Withdrawal of the Reference and Referral of Motion for Relief under Rule 60(b)(6) and Related Matters Filed by U.S. Trustee US Trustee 11 (Attachments: # 1 Proposed Order)

Attachments: 1
Related: 11/02/2023
1236
Motion for Relief From Judgment or Order Pursuant to Federal Rule of Civil Procedure 60(B)(6) and Federal Rule of Bankruptcy Procedure 9024 Approving Any Jackson Walker Applications For Compensation and Reimbursement of Expenses Filed by U.S. Trustee US Trustee 11 (Attachments: # 1 Proposed Order # 2 Exhibit)

Attachments: 1, 2
Related: 11/02/2023

[8lang]

https://cases.ra.kroll.com/

[footballref-8541]

Anyway you can update what this was about? No link

[8lang]

1232
Affidavit Re: of Liz Santodomingo Regarding Notice of Status Conference. (related document(s):1231 Notice). Filed by Kroll Restructuring Administration LLC

Attachments:
Related: 1231 ---------------- 10/30/2023

[TraderAI]

Yeah. I meant these are not shares. They are debentures. So yes. Am in agreement.

[MasterBlastr]

I'm not sure about reinstatement . . . of JCP equity shares? JCP reorganized and emerged as a private company, and is a private company now. I think we would get back interest payments on our notes before that. We could have a lot of money coming, or at least can dream about it.

[TraderAI]

Redemption or series of payments.

SPG has their own stock unrelated to this. Even if reinstated (JCP), these are debentures.

[8lang]

Hope you are right.

[MasterBlastr]

Restate to what? Redemption more likely. Cash payment, or a series of payments, based on future performance.

[8lang]

Stocks restate
OR
Redemption

[MasterBlastr]

I own all three - COTRP, CBTRP, and CBJCL. Not sure which securities participate in what distributions, or under what circumstances, if anything at all. Payments in cash according to how much you own IMO. I don't see how any other method of payment is possible.

[8lang]

Sorry i dont own CBTRP.

[footballref-8541]

Do you know CBTRP?

[8lang]

COTRP 4ml shares outstanding. CBJCL 2ml shares outstanding.

[KICK1]

Hmm

[footballref-8541]

Yes i understand that fact. But if there’s 50m shares between the 3 of them, that’s 1.2B without dividends. But I do see your point. Why give shares if you had an Earn out period, you could’ve done that two years ago. So If it is cash, it’s at a greatly reduced return.

[MasterBlastr]

There are a fixed number of shares for COTRP that does not change. They aren't shares in the traditional sense, anyway.

[footballref-8541]

I just don’t see a retail operation giving up a dime of cash position. That would hurt their stock price more than dilution. I can’t remember how many shares were issued between Cbjcl, Cotrp & Cotrp. But each one is listed at 7.65%. Could be a big financial hit for SPG. Shares Instead of cash is my call.

[MasterBlastr]

No stock involved . . .

[footballref-8541]

I am almost certain they won’t be paying cash. Probably dilute the stock. But it would be to our advantage considering the time and back dividends owed. Decreasing your cash position is not a good business move in a high interest rate environment.

[MasterBlastr]

Agreed - Hopefully we get something for Christmas, or Valentines day.

[GBExpress]

I wish I had an update or something insightful to say. But we are at the mercy of the court at this point.
If the financials and statements made by Simon and it's leadership are considered in court, we should get something... Unfortunately, what "should" happen has rarely, if ever, happened since JCPenney declared bankruptcy.
I don't know about y'all, but I hope the 12/31/2023 deadline is the final deadline.

[footballref-8541]

Doesn’t matter the Judge, the agreement is in place and they’ve been updating the court. Believe we’re ok.

[TraderAI]

Hold. Write letters. Call the court. Scream loud.

The presiding judge Jones resigned. Unless the new judge has a larger shrub up his bum, this couldn't be better news.

Simon hasn't ponied up one red cent even with the 2 year earn out agreement.

The only reason this deal went through was because of that profit sharing earn out contract that bruised share holders by a few billion.

Last I checked Simon is churning profits and defying Wall Street critics.

How are the Indiana Pacers doing? Where is the profit sharing?

[MasterBlastr]

Definite hold at this point.

[footballref-8541]

Yeah I called CS about my position to see why the cuspid were not deleted if their were any updates and they did say they we’re awaiting court decisions. They did inform me that I can sell but not buy.

[8lang]

Thanks MasterB. IMO we are Trust Perfds , JCP BK is ch11 not ch7. They cant wipe out Trust Perfds. We will restate .

[MasterBlastr]

Hi - the only reason I have some optimism is there might be some runoff notes or something that old JCP debtholders get from the reorganized JCP. Of course, the old JCP shareholders get nothing. Their goose was cooked long ago. This is something that GBE might show some interest in. We are getting close, so the long wait might be coming to an end.

[8lang]

😂 Hi .

[MasterBlastr]

The case is supposed to be winding down by Dec 31, so we should be finding out more soon. JCP is wanting to revive itself, interesting article came out a couple of months ago -

https://www.cnbc.com/2023/08/31/jcpenney-is-spending-1-billion-on-store-and-online-upgrades-in-latest-bid-to-revive-its-business.html

[8lang]

1231 10/21/2023
Notice of Status Conference. Filed by J. C. Penney Direct Marketing Services LLC

Attachments:
Related:


???????

[footballref-8541]

Could you provide a link on this?

[8lang]

1216
Certificate of No Objection with Respect to the Wind-Down Debtors' Motion To Approve Settlement Pursuant to Bankruptcy Rule 9019 (Filed By J. C. Penney Direct Marketing Services LLC ).(Related document(s):1197 Generic Motion) (Attachments: # 1 Proposed Order)

Attachments: 1
Related: 1197

[MasterBlastr]

Yep. On Page 7, Part 4 shows the date the case is expected to wind down: 12/31/23. That date hasn't changed for a long time.

You can look at the docket here -

https://cases.ra.kroll.com/jcpenney/

[Desperado90]

https://cases.ra.kroll.com/jcpenney/Home-DownloadPDF?id1=MjQ0ODQ4OQ==&id2=-1

[sushifishman]

Such a moron

Cheers!

[Yukii]

No brother no need to apologize at all. I appreciate the response that’s all it’s been a while since I saw anything get posted to the board. Thanks again

[MasterBlastr]

Sorry I really have no more to add. I watch the docket, but outside of routine claim processing, nothing significant has come up.

[Yukii]

Thank you brother I appreciate the response

[MasterBlastr]

Expect the bankruptcy case to continue to work through claims until at least the end of the year. But we are getting closer. No indication as to prospects of recovery.

[Yukii]

Hello everyone What’s everyone here thinking is going to happen or hoping to happen with this ticker? I have a few also wondering what to expect next or something we can do. Thanks

[Miami Sun]

#metoo

[PARker1703]

Still holding my 7068 shares….hoping

[GBExpress]

Once again, JCP seems to be doing alright AND spitting off extra CF to their acquirers. Over $100 million paid out to Simon and Brookfield over the past two years, plus $600,000 in Board fees to certain employees. $7.6 billion in revenue and $221 million in net income for FY 2022 and those figures are worse than FY 2021.

https://www.retaildive.com/news/jc-penney-profits-tumbled-last-year-as-sales-edged-down/649303/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202023-05-04%20Retail%20Dive%20Newsletter%20%5Bissue:50220%5D&utm_term=Retail%20Dive

[MasterBlastr]

Thanks. See you in September. Do not expect anything until after Dec 31, which is the deadline for all claims to be processed.

[Bigblock496]

https://www.otcmarkets.com/filing/html?id=16481370&guid=lCA-kHId9yP2B3h#jcpenneydb20071_htm

[GBExpress]

Thanks for the article. I have not responded to JCPTrustLaw, nor have I responded to them.

[MasterBlastr]

I have not - and no significant documents outside of processing of claims from the docket. The next 10-K annual report for 2022 is due out the end of this month.