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There might very well be lawsuits from now until the cows come home once SUNEQ shares are cancelled, however those who bought post bankruptcy won't be entitled to anything.
I was hoping for an explanation of the December dates and what the motion itself is referring to in layman's terms. I don't doubt the stock is likely to get cancelled. I think the lawsuits against many of the banks and individuals involved will go on for years. If the free market and very experienced investment banks valued the company well into the multiple billions and it turns out it was worth less than zero, tracing all those dollars will certainly lead to not just unethical, but very likely illegal activity. The saga will likely long outlive the shares.
SUNEQ is toast my friend, the judge has already explained why shareholders will get zilch, what else do you need to hear?
I saw this, but I think we can use a bit of commentary in layman's terms as to exactly what it means:
SunEdison filed with the U.S. Bankruptcy Court a second motion for entry of an order subordinating and reclassifying claims based on the purchase or sale of securities of the Debtors or their affiliates.
The motion explains, “Consistent with section 510(b) of the Bankruptcy Code and the express terms of the Debtors’ confirmed Plan…the 510(b) Claims should be subordinated to all other creditor claims and reclassified as Class 6 ‘Other Subordinated Claims’ because such claims purport to be based on the purchase or sale of securities of the Debtors or an affiliate of the Debtors or a claim for reimbursement or contribution in connection with such claims. Ordinarily, a party seeking to subordinate a claim must request such relief by way commencing an adversary proceeding, except where, as here, the confirmed Plan expressly provides for the subordination of section 510(b) claims and separately classifies such claims for treatment purposes.”
In addition, “Accordingly, the Debtors file this Motion in an abundance of caution to give express effect to the terms and conditions of the Plan.”
The Court scheduled a December 21, 2017 hearing to consider the motion, with objections due by December 14, 2017.
Yup. This one is toast. Wait for it. It will happen. How can anyone be bullish on this POS?
POR hasn't been finalized yet but it will be soon.
November is coming. What date is this going to stop trading per the court ruling?
What news? There is no news to come other than the cancellation of shares. The judge has already explained why shares will be cancelled. There is nothing left.
gonna run boyzzzzzz,,,hold tite myop $$$$
Creepin' up on low volume, news coming? November? Coming to an end soon.... Good or Bad ;)
$suneq
General Electric is seeking a turn around....
$SUNEQ
Great advice thanks TP
Trade away, help yourself, this could be cancelled at anytime, to risky.
So what your saying is, if this pops before November 15th and you already sold prior, you don’t get any gravy?
I don't foresee a pop in price before then, if anything just a slow bleed down from here.
According to the "5th CRO Report", if all conditions precedent are met, SUNEQ is currently scheduled to go poof on November 15th, 2017. The two major conditions are the completion of the GLBL merger (shareholder vote on November 13th) followed by the First Offering participants kicking in $300 million. While there may be a delay of a few days to process all the paperwork and funds flows players now have a timeline to work with.
I think we are on fact 5 in this article.
https://www.thestreet.com/story/10870188/1/trading-a-stock-in-bankruptcy-5-facts.html
Confirmed on July 28 - didn't you read that? Confirmed = finalized. When POR goes into effect the shares are cancelled. Right now POR has been finalized but has not gone into effect. Any price fluctuations from now on is just traders playing hot potato with a turd.
It is - equity is far too far out of the money. No shot, no sense in even trying.
I read it but its not finalized yet, no doubt though shares will be cancelled. The judge has already explained why shareholders get nothing, it's a done deal.
Did you read it ?
Fighting the POR is much more than anything anyone here could ever do. Penny traders posting their little tootsies off won't do squat.
You know I'm not in SUNEQ right now, but if I was I would be putting up a fight on the board and objecting to the current POR with the courts. It seems longs no longer have any fight left in them, this board is a ghost town. Where is your heart? Have enough dignity to defend SUNEQ if you are truly long the name. Perhaps there is nobody left who believes and this is just a day traders play toy until shares are cancelled. It seems that way.
I got it, the POR hasn't been approved yet, it should be soon though. Once it's approved and shares are deemed cancelled look out below!
Did you see the message before the one you wrote?
Once the POR is finalized this will sink like a rock, shares being cancelled will be official then.
The POR was filed, amended, and approved all earlier this year. Its all here.
https://cases.primeclerk.com/sunedison/
Are you no longer in SUNEQ? Have you abandoned ship?
Talk about a dump fest today, hitting a low of .016! I look for double zeros soon.
You are long SUNE even though you lost big in the past? I'm intrigued, what makes you think commons have any chance of survival?
I just don't understand what shred of hope some folks are holding onto? There is nothing left.
Even if this Corning guy is looking at / working on purchasing SUNEQ's Texas industrial site for $21million, what is there to get excited about? SUNE will still be far short of paying off their creditors, creditors have to be fully paid before shareholders receive anything? I don't understand the hype? If someone can explain the excitement over this?
Then why do you seem so discontented?
Nobody ever shows up to defend this steaming pile and or give a reason as to why commons will survive. The judge has came out and explained why commons are doomed. No attorneys are representing shareholders. Nobody is arguing against the cancellation of shares with the current plan of reorganization. Yes sir, it's pretty much a done deal. Commons are doomed. Where is the hope?
What is all this talk about this Corning guy? I haven't been following this ticker very closely, can someone bring me up to speed? Thanks.
This board is a ghost of its former self as SUNEQ's fate has been set. I don't foresee another run here, rest in peace SUNEQ!
Agreed, it looks like most here have realized their fate, commons are roasted, toasted and burnt to a crisp!
Yep even the Flat Earth Society eventually threw in the towel a while back.
I noticed we never see anyone here claiming commons will survive, I guess folks finally get the bigger picture and realize there is no hope for commons. It's about time lol.
This is headed back to double zeros, cancellation of shares will happen shortly after.
I think of time wasted as time that you have done nothing about a situation.
I would like to send an objection then, will that help.
Shareholders have no voice in this BK, the judge has made that apparent, even if we all object to the plan or reorganization it will fall on deaf ears, it's a waste of time.
Listen, there is no need to be able to tell the future, the courts have already told you the future. Nobody is objecting to the cancellation of shares, so even if a new plan of reorganization is submitted the cancellation of shares won't change, that part will stay the same because there are no objections to it. Shares will be cancelled with certainty.
I wish i could tell the future, but all i can say is wait.
It's your money, but soon shares will be cancelled and all those holding will realize 100% loss.
If i had nothing to lose then why lose sleep about it.
Yes but the part you are missing is nobody is objecting to the cancellation of shares, that is not the part that is being disagreed upon, do you understand that?
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