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IMO the first news I think we will see will be the sale of SeaSteak should before the 20th. It was part of the exit plan from BK
Hello all I bought in right after the news. Here is microcap level II on close on friday to clear it up..
(1) .013 x (2) .02
(1) .009 x (1) .0325
(4) .005 X (1) .035
(1) .004 x (2) .10
ubss .013 x doms .02
doms .009 x ubss .02
pert .005 x sali .0325
vfin .005 x hdsn .035
sbsh .005 x vfin .10
hill .005 x hill .10
hdsn .004 x sbsh .115
sali .0025 x pert 1.5
etrd .0001 x etrd 100.5
OT: Cash Or OTC can u email me I am not a member but I have another stock that I want u to look at. I am not sure and since I am still somewhat new. Maybe benefical for both. email in profile.
thanks
I agree if commons were cancelled that without the issuance of warrants it would be dead. You are correct there is a risk involved but this can playout a few ways.
Not that its going to happen but even if common shares were cancelled they would probably issue warrants. Besides Delphi is still trading and people know about the common shares and the warrants so how is it possible that u would lose ur entire investment? I dont think its possible..Plus by the time the release the exit plan you will have plenty of time to decide if u want to exit. I think we r pretty safe even though as most do I beleive that the commons will survive.
Great Find. Thats pretty interesting.
I hope someone has free trades. 108 shares.
35x37.5 1x1
I dont know. Nothing yet that I see. I have to leave for the day but BMC should have the filing up shortly. I think
no. But here is todays agenda.......
06-11156-KJC Sea Containers Ltd. Chapter: 11
Edmon L. Morton and Edwin J. Harron and Kenneth J. Enos and Robert S. Brady and Sanjay Bhatnagar and Sean Matthew Beach and Sean T. Greecher representing Sea Containers Ltd. (Debtor)
(no aty) representing United States Trustee (U.S. Trustee)
(no aty) representing David L. Buchbinder (U.S. Trustee)
William H. Sudell Jr. representing Official Committee Of Unsecured Creditors and the Financial Members Sub-Committee of the Official Committee of Unsecured Creditors (Creditor Committee)
(no aty) representing Financial Members Sub-committee of the Official Committee of Unsecured Creditors (Creditor Committee)
Thomas F. Driscoll representing Official Committee Of Unsecured Creditors (Creditor Committee)
David B. Stratton and Evelyn J. Meltzer and James C. Carignan representing Official Committee of Unsecured Creditors of Sea Containers Services, Ltd. (Creditor Committee)
David B. Stratton representing Unsecured Creditors of Sea Containers Services Ltd. (Creditor Committee)
Motion to Authorize SCL's Entry Into Certain Intercompany Guarantees With Non-Debtor Subsidiaries Filed by Sea Containers Ltd.. Hearing scheduled for 1/22/2008 at 01:30 PM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware. Objections due by 1/14/2008. (Attachments: # (1) Exhibit A# (2) Exhibit B# (3) Exhibit C)
Notice of Agenda of Matters Scheduled for Hearing Filed by Sea Containers Ltd.. Hearing scheduled for 1/22/2008 at 01:30 PM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware.
Amended Notice of Agenda of Matters Scheduled for Hearing Filed by Sea Containers Ltd.. Hearing scheduled for 1/22/2008 at 01:30 PM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware.
Amended Notice of Agenda of Matters Scheduled for Hearing [SECOND AMENDED] Filed by Sea Containers Ltd.. Hearing scheduled for 1/22/2008 at 01:30 PM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #4, Wilmington, Delaware.
So far this is what has happen so far today.. I am ahead of bmc.
Docket Date # Docket Text
01/22/2008 1354 Examiner's Report Fee Auditor's Final Report Regarding Interim Fee Application Of Appleby Hunter Bailhache For The Fourth Interim Period Filed by Warren H. Smith & Associates, P.C.. (Attachments: # 1 Response Exhibit 1# 2 Response Exhibit 2# 3 Response Exhibit 3) (Smith, Warren) (Entered: 01/22/2008)
01/22/2008 1355 Affidavit/Declaration of Service of Anastasia Joseck Regarding Certificate of No Objection Regarding Fee Applications (related document(s)1353 ) Filed by Sea Containers Ltd.. (Greecher, Sean) (Entered: 01/22/2008)
01/22/2008 1356 Certificate of No Objection Regarding Eleventh Monthly Fee Application of Willkie Farr & Gallagher LLP as Counsel to the Official Committee of Unsecured Creditors of Sea Containers Services Ltd. for Allowance of Compensation and Reimbursement of Expenses Incurred for the Period November 1, 2007 Through November 30, 2007 (related document(s)1298 ) Filed by Official Committee of Unsecured Creditors of Sea Containers Services, Ltd.. (Attachments: # 1 Certificate of Service) (Carignan, James) (Entered: 01/22/2008)
Yeah I am pumping it. I now have 180k shares at an average of 17 cents. I dont want to make money rather sell for 11 cents. Its about the big picture. High Risk/high reward. Company is way undervalued. Everyone is waiting for them to emerge from Bankruptcy.
Not sure. Lots of 5000 block trades.
MM's are in control for now. But the cant hold it down for too much longer.
Well its early right now in Texas. I guess its just a matter of time. Patience will PAY!
Was there a giving time on the ruling for appointment of the trustee?
31.5 X 33 1x1
Yeah. But they want out and owe money to the banks for the boats. Might help us and them if they sell.
SeaStreak owner
re-starts the sale process for the ferry company
New York and London, 15January 2008 – Sea Containers, the parent company of SeaStreak, the profitable fast ferry passenger line that crosses daily from Atlantic Highlands and Highlands on the central New Jersey coast to Manhattan, is re-starting the marketing process to sell the four ships and the company together.
In October last year SeaStreak responded to press speculation about a sale of the ships alone to the National Infrastructure Development Company of the Government of Trinidad & Tobago by referring to it as premature and ‘wide of the mark’. These negotiations have not resulted in a sale.
SeaStreak, which ferries 4,000 commuters during each working day, is owned by Sea Containers Ltd, the Bermuda registered and New York quoted company that has been in Chapter 11 since October 2006. This has led to Sea Containers needing to dispose of its non-core businesses. SeaStreak, which profitably operates the service using four modern and fast catamarans, is one of the subsidiaries which have been put up for sale.
David Stafford, SeaStreak’s General Manager, said: “Everyone at Sea Containers and SeaStreak appreciates how important our Manhattan ferry service is to the local communities of Atlantic Highlands and Highlands. Sea Containers is keen to sell the route together with the ships and we already have firm indications of interest in buying SeaStreak. ”
ENDS
For further details:
Adrian Flook M: Communications + 44 (0)20 7153 1588
My L2 isnt working properly for SCRA. sorry
yeah. I emailed no response. Called the TA they couldnt answer my questions.
Good morning. I see u have been busy.
microtrade cap is working fine
But hypothetically would they survive if common shares were cancelled??? They are preferred??
yeah I have noticed that. Any thoughts?
yeah I have noticed that. Any thoughts?
Part of an article about SeaStreak.....
It brought to end the latest chapter in what has become an unnerving saga for SeaStreak passengers. SeaStreak's parent company, Sea Containers Ltd., filed for Chapter 11 bankruptcy in October 2006 and is exiting the ferry business as part of its reorganization.
With four high-speed catamarans for sale, passengers have worried that they would lose the service that gets them from Atlantic Highlands and Highlands to New York City in comfort in less than an hour.
A spokesman for Sea Containers said earlier this week that negotiations to sell the vessels to Trinidad and Tobago had ended, and it had turned its attention to negotiations with a U.S. company. He declined to reveal the company.
SeaStreak ferries some 2,000 passengers each way, but it doesn't actually own the boats; a bank does. The bank's identity hasn't been disclosed, and Castillo said he didn't know which bank it is.
I had a buy at the bid earlier they wouldnt take it so I bought at ask.
From another board. Does this really help prls123 or bagfull?
Just a thought for consideration....
I have put all my shares in a GTC order.
If you put your shares in a GTC trade order, at a much higher price, the M/M's cannot borrow them from your brokerage firm. It tightens up the float. It will make them cover the shortage faster.
It sends them a message.
IMPORTANT...if you do this make sure it's a "Limit" order and check "All or None."
SeaStreak ferries back on schedule
STAFF AND WIRE REPORTS • January 18, 2008
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SeaStreak ferries are back on schedule.
Commuters faced canceled trips out of Monmouth County and Manhattan throughout the week.
The cancellations were caused when the certification expired for one of Seastreak's four boats.
The company says the boats will sail their regular schedules starting Friday afternoon.
Ealuer in the day, a Coast Guard official said the one of the boat's documentation wasn't renewed before it expired.
"The vessel's document expired and there was some confusion between the operator and the owner, the owner being a bank,'' said Jim Castillo, chief of the Coast Guard's passenger vessel branch in Staten Island. "During the regular (administrative) work we're doing, we noted the documentation expired.
"We called the operator and told them that, 'Hey the documentation has expired. You cannot use your boat until you renew the documents, re-register the boat.'‚''
SeaStreak has had to cancel at least two of its morning runs for each of the past three days. The company carries about 2,000 passengers a day from Atlantic Highlands and Highlands to Manhattan.
The Associated Press contributed to this report.
I have been watching it since u recommended it at .13. Just wonder if the common will survive. Its a big company and i have a couple of there products. I am just uncertain on the outcome.
How are u feeling about this one?
hey buy me a ticket I will go to Delaware.. lol
Hey I like to keep everyone informed. Good or bad. I have alot of shares just waiting to celebrate. lol
Coast Guard needs paperwork before SeaStreak ferry can sail again
By Michael L. Diamond • BUSINESS WRITER • January 18, 2008
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SeaStreak America Inc. hasn't been able to operate one of its vessels this week because the boat's documentation wasn't renewed before it expired, a U.S. Coast Guard official said today.
Jim Castillo, chief of the Coast Guard's passenger vessel branch in Staten Island, said the catamaran has been inspected and is certified to operate. The company now needs to wait for papers to be processed by the National Vessel Documentation Center.
"The vessel's document expired and there was some confusion between the operator and the owner, the owner being a bank,'' Castillo said. ""During the regular (administrative) work we're doing, we noted the documentation expired.
"We called the operator and told them that, 'Hey the documentation has expired. You cannot use your boat until you renew the documents, re-register the boat.'‚''
SeaStreak has had to cancel at least two of its morning runs for each of the past three days. The company carries about 2,000 passengers a day from Atlantic Highlands and Highlands to Manhattan.
The cancelations come during a tumultuous time. SeaStreak's parent company, Sea Containers Ltd., filed for Chapter 11 bankruptcy and is exiting the ferry business as part of its reorganization.
With four high-speed catamarans for sale, SeaStreak passengers have worried that they will lose the service that gets them to New York in comfort in less than an hour.
SeaStreak doesn't actually own the boats; a bank does. The bank's identity hasn't been disclosed, and Castillo said he didn't know.
Castillo likened a boat's documentation to the registration of a car. It needs to be
renewed each year. And it can take anywhere from a couple of days to a week to process the paperwork, depending on the National Vessel Documentation Center's workload.
He said the Coast Guard sends notice well in advance that the documentation is set to expire. And he couldn't recall another time the owner has missed the deadline.
"They give you ample time,'' Castillo said. "I don't know what happened. I can only
guess. That process did not take place.''
A SeaStreak official didn't know if the boat would be back in service this afteroon.
Post from other board..
"Certification of documentation for the SeaStreak Wall Street" was the reason the cancellations? Baloney!!! Captain Sloshedenjolly was sitting right next to me at the Dublin House yesterday morning. He looked over at me and said "let's see if any of this Rumson (expletive) can pilot the boat for themselves" and raised his glass to me.
Word on the street is Sea Streak is to be sold to Hornblower Marine Services. An affiliate of the company that was the winning bidder for the National Park Contract to provide service to Ellis and Liberty Islands. Check their web-site. They have the experience and the know how. Looks at first blush like a good fit...
Let me say ur wrong read this..
Here is the link.
https://coursewebs.law.columbia.edu/coursewebs/cw_07S_L6233_001.nsf/0f66a77852c3921f852571c100169cb9/2B68581D0D6CC93F85257258007BF2F0/$FILE/20070102+DBR.pdf?OpenElement
Second this was on a higher exchange until it filed BK and the it was delisted. Prls123 and bagfull are correct
So what is ur take on it? Think they have a deal somewhere? or do u think they r forcing the private investors that were looking or the state to buy it?
prls123 or bagfull I have seen a shake but nothing that dramatic. I have only been trading 6 months. I guess the purpose is to create absolute panic? Correct me if I am wrong. Just trying to put more knowledge into my bag.