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Job cuts in GE traditional power.
https://www.thestreet.com/story/14413758/1/general-electric-plans-massive-job-cuts.html
May be reinvestment in renewable energy.
https://www.ge.com/reports/amazon-turns-ge-wind-turbines-power-business/
That's not what my friends at Club 33 are saying!!!
Any thoughts on this?
BETHESDA, MD, December 5, 2017 (GLOBENEWSWIRE) – TerraForm Global, Inc. (Nasdaq: GLBL) (“TerraForm Global” or the “Company”), a global owner and operator of clean energy power plants, today announced that it has exercised its right to extend the termination date under the Agreement and Plan of Merger entered into on March 6, 2017 with certain affiliates of Brookfield Asset Management Inc. (the “Merger Agreement”) from December 6, 2017 to March 6, 2018. However, the closing of the merger is currently anticipated to occur no later than December 29, 2017 on the terms previously approved by the Company’s stockholders at the special meeting held on November 13, 2017.
Any action needed in our end for the class action?
Do we have to file any documents?
Your advice is appreciated
Thanks
American Airlines, perhaps?
This still is Chapter 11 and a Bernstein says common are to be cancelled.
Keep hope alive:)
Thats fine. I can't legally say why I know the deal isn't going to let the shares become forfeit. But you will see in the coming weeks.
Call the toll free number on that site and ask them. I called yesterday and they said the POR was approved and shares will be cancelled shortly.
This is something your sparring partner would have posted 4 months claiming this is going to 35 cents.
HT, not trying to wee wee on your optimism but commons will cancel.
Did SUNEQ acquire over 48 millions TERP stocks?
1. Name and Address of Reporting Person*
SUNEDISON, INC.
(Last) (First) (Middle)
TWO CITYPLACE DRIVE, SUITE 200
(Street)
ST. LOUIS MO 63141
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TerraForm Power, Inc. [ TERP ] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
10/16/2017
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 10/16/2017 C 48,202,310(1) A $0.00 48,202,310 I See footnote(2)
Class A Common Stock 10/16/2017 P 6,492,504 A $11.46(3) 54,694,814 D
Class A Common Stock 10/16/2017 P 14,917 A $9.52 54,709,731 I See footnote(4)
Class A Common Stock 10/16/2017 S 20,435,852(5) D $9.52 34,273,879 I See footnote(4)
Class B Common Stock 10/16/2017 J 48,202,310(1) D $0.00 0 I See footnote(2)
What does that prove? Shares are to be cancelled, you will see.
Provide proof that shares aren't getting cancelled, you can't and you won't. You are in for a rude awakening when one morning all the shares you've accumulated will be worth $0.00!
Call the toll free number listed on the prime clerk site and ask them, they will tell you flat out shares are getting cancelled, I don't know where you get your info but it's wrong, shares are getting cancelled.
Still singing the same song lol. I've said it many times before. They are not getting canceled. You don't even have anything to go on anymore.
Shares should be getting cancelled soon, those holding will realize a 100% loss.
Why are we still here? Cancel this sob already.
I think this is related to this where court asked debtors to release some information.
In short, the Debtors have failed to sustain their burden of proving that the Court has subject matter jurisdiction to approve the Release in its current form. The reference to certain indemnity obligations owed to a few parties does not prove that the outcome of the universe of claims the Debtors seek to enjoin will have a conceivable effect on the
estate. Similarly, the Debtors have failed to demonstrate that the third party releases are appropriate under Metromedia. The Non-Voting Releasors did not consent to the Release. The creditors are not being paid in full, and their third party claims will be extinguished rather than channeled to a fund that will pay them. Furthermore, as noted, the Debtors have not identified which third party claims will directly impact their
reorganization, and given the broad scope of the Release, it is likely that many will not.
Finally, while some of the proposed releasees undoubtedly made contributions for which they are not otherwise compensated, or compromised their rights as part of the global settlement that made confirmation possible, the broad definition of Released Parties includes persons that added nothing to the cases.
We have a good chance of getting 2 t-shirts? :)
Mentions Madoff and Quigley case
Also says the word “might” in the same sentence with bankruptcy “estate”.
Can anyone translate this legalspeak into something a bit more readable:
https://www.natlawreview.com/article/sunedison-court-strikes-down-third-party-releases-multiple-grounds
Brownie McGhee Quotes. Something is better than nothing. Doin' anything for a man, there's investments involved, there's time and production. It's better to give him ten bucks and get a record out than to never record the cat.
Everybody is goin to get a t-shirt
debtors want to reclassify certain claims to intercompany and hearing dates are in December. How they can cancel commons before even those hearings?
NOTICE OF HEARING TO CONSIDER
DEBTORS’ SEVENTEENTH MOTION FOR AN ORDER
RECLASSIFYING CERTAIN CLAIMS AS INTERCOMPANY CLAIMS
Hearing Date: December 21, 2017 at 10:00 a.m. (Eastern Time)
Objection Deadline: December 14, 2017 at 4:00 p.m. (Eastern Time)
seventeen claims are reclassified as intercompany claims.
are they going to issue new stocks for those?
NOTICE OF HEARING TO CONSIDER
DEBTORS’ SEVENTEENTH MOTION FOR AN ORDER
RECLASSIFYING CERTAIN CLAIMS AS INTERCOMPANY CLAIMS
Hearing Date: December 21, 2017 at 10:00 a.m. (Eastern Time)
Objection Deadline: December 14, 2017 at 4:00 p.m. (Eastern Time)
Too little too late.
Nobody ever said they get canceled. That was just assumed because the judge said there was not enough money at the current time. They have consolidated and made new deals since then.
Yes, they do get cancelled. Typhoon is 100% correct. SUNEQ shareholders get no distribution, no nothing. Zilch.
What? What would GE do with this POS? There will be nothing left very soon for commons. Buying this would be a fast pass to the unemployment line.
The only game post BK is a controlled liquidation to maximize proceeds. Bank on this!
That's not even close to what I said.
So they get cancelled on the 22nd?
They have already been bought out by Brookfield Asset Management $BAM. They are exiting bankruptcy Nov 22 with shares issued in TerraForm Power. $TERP
Why would GE want to inherit billions of dollars of debt? They are having a hard enough time as it is. SUNEQ won't be bought by GE.
Its heading down the stool . . . ;)
$SUNE still trading $.0165?!?!?!?
$GE
Well, if you want to take the chance on a lotto that there is some sort of buyout then I guess risking a small amount of capital can't hurt, just don't bet the ranch. However, the POR has already been approved so even if there is a buyout I'm pretty sure shares would still be cancelled, it's already been court ordered.
Then cancel away, from these levels it's no big deal...
GLTU $SUNEQ
There will be no buyout, shares will be cancelled, that is the bottom line, if you are holding shares when they are cancelled you will realize a 100% loss of monies invested. If you don't believe me call the prime clerk toll free number and ask them, they will tell you shares are to be cancelled.
Just in time for $GE buyout IMO
#suneq
I think shares will be cancelled sometime next year when SUNE emerges from bankruptcy.
Global shareholders approved their merger with Brookfield yesterday. Following approval by the District Court of a securities suit for a mediated settlement of $57 million the merger will close. The creditors Rights Offering has been extended to November 22nd. SUNEQ shareholders get an extra week to play musical chairs.
I can't advise you on what to do, I'm not a financial advisor. However, if you do sell you will still be able to join the later lawsuits since you once held shares pre bankruptcy, no worries there. I wish you the best.
This is the week you said shares will go poof, let's see if your prediction is accurate!
The wind part of their business is the only profitable operation, however, profits there are great enough for them to emerge from Chapter 11 as a viable organization, the problem is shareholders see no part of that pie.
Yes, but those who bought post BK will get zilch. Sunedison's website is gone, shares will be next.
If they are emerging from bankruptcy without Chap 7 liquidation being the next step, then they have a company strong enough to emerge from bankruptcy.
If they are not emerging from bankruptcy, then we go to Chap 7 and liquidate.
As far as I've heard, they are emerging from Chap 11.
Shareholders who bought before Chap 7 are awaiting multiple lawsuits against SUNE, their executives, whatever the emerged SUNE becomes, Goldman Sachs and other banks and financial backers who lawsuits contend, violated SEC rules.
This saga will be going on for at least another 5 years.
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