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Yes sir…good problem to have.
Decisions…Decisions
I’m thinking it might be best to be in Cash for a bit. If and when we get paid and they try and address old Lehman, Wamu and UWB there will be A+ assets available at market low prices. You just won’t be able to use leverage.
Think they’ll take the taxes upfront or is this litigation taxable?
Yeah I got shares here, but I sure hope it’s for all the old banks in receivership. This is a twist. Here I am waiting on court cases to close and now I’m trying to figure out when the head man’s last day is…this is absolutely crazy.
Yes and I can’t believe how they’re suppressing the news. Just today China prevented all hedge funds from even selling shares. Not shorting…no selling!
Are you saying yours are back?
Dimon’s sat for many depositions before, the latest being Epstein. They settled after the deposition most likely to see the other sides cards and what could be made public.
Well you can arrange for Companies to file dividend payments and have the stock soar. Hold off margins - temporarily.
Looks like they deleted all JCP bonds.
Yeah there’s something going on. I called and was told they will reappear soon. I wanted to move my shares to Roth but they won’t allow.
China has already collapsed. Their shadow banking system makes Evergrande look like a pawn shop. All stolen money and unaccountable. Think they call it Peer2peer lending. 500B and now all that crap they been talking about being a world power and crushing everyone. All the money has been stolen up and down the ranks of the military! The tanks, rockets, ships and missiles are nothing but tofu. Somethings not right. Now they got Covid II spreading worse than the first time. Their dishonesty has killed them from within.
Amen brother
Where are they buying these?
This seems to be moving at lightning speed for court hearings. Are we waiting on a specific date or something?
Thought they would’ve cleaned up the books for 2023. If this was a big nothing burger, it wouldn’t have got pushed out. They’ll be able to swap some debt, but not all of it. Got a feeling some of it is untouchable.
I think we’re already in the money and they need more claims.
I see this as a positive.
And here comes Lehman bros paying on my old Debt next month. Everyone thought they were dead.
Well if unsecured get a dollar, we will be made whole. And of course we can continue our debate on how.
Well I guess it doesn’t matter what we think, just gotta wait and see about this Earnout period.
Obviously you haven’t read and studied all your investments. So I don’t wish nothing. But it doesn’t matter. Go find the link yourself.
A presentation entitled “Emergence Analysis” dated Sept. 4 2020 in the 8-K includes the following sources and uses and exit capital structure for J.C. Penney and the related transactions. The presentation, prepared by Lazard, assumes a $300 million equity investment, $500 million in take-back debt, a $310 million FILO and $497 million drawn on the exit ABL to finance the transactions. Lenders would receive $318 million cash distribution in addition to the $500 million take-back debt. The ABL balance of $1.263 billion assumed as of Oct. 3 would be paid down
Shares of SPG, not JCP. I know they’ve been cancelled. The new owner of the debt.
Exactly, everything is renegotiable in a chapter 11.
That’s where we differ in opinions. It always traded. Even now we can only SELL. So the prospectus is still in place. If not, what would you use to pay your cold hold cash? I think we get shares or dividends. But will be good either way and we will be drinking our drink of choice at the end of this.
You’re correct, but that bankruptcy didn’t make total sense either. They had to have some inside help to do some of the things that were done. We’re lucky we survived. I don’t see them giving up much cash to put this behind them. I went back and read the prospectus and nothing prevents them from changing these to commons or just relisting. Simon Property Group will tell of the challenging times in this illiquid market and will do what’s best for them. If they could’ve cancelled us, they would’ve already. I wish I could buy more.
I think thats the correct call. Then you don’t have to pay the value of the debts just let em trade and pay back dividends. Put em back on SP’s books and that completes the bankruptcy.
Easy, pretty soon AA will have about 1/3 of the total debt of the company in cash available. He’s been paying off millions at about a 10-20% discount. That action plus the added revenue will cause value investors to jump in and cause a pop. Media will say it’s the squeeze, but leave out the RS. We will know it’s only 30 bucks pre RS. But a 7 bucks to 300 dollar run will get AA CEO of the year and leave us dumb and dumber. 🫤
The fact that they made 1.4B last quarter and has a current market value of 1.3B is absurd. It’s a race to get it under 5 bucks and delisted no matter what the fundamentals are, but it won’t work. I’m seeing this pop easily to pre split 30 buck range.
Not so sure about that. This bankruptcy isn’t closed but they gave a date for payment but some of the securities are tied to Libor.
Are we talking LEHKQ & LEHLQ in this process also? I dont remember where they fall in the waterfall.
Any chance they just pay back dividends and resume trading? Would save a lot of money doing it this way.
Based on yesterday’s close that’s about 35M shares.…we still haven’t seen the results of the first offering.
Got an email from Libor group saying my securities bought don’t qualify for payment because there was no “No Calculated Suppressed Payment Amount”.
Does anyone know what this is? This is for my K shares.
I tried to move these holdings over to my Roth. CS said it was approved and should be no problem then I get a call yesterday saying it would not be possible…go figure.
This looks promising.
Anyway you can update what this was about? No link
Do you know CBTRP?
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.
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.
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.