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Closing Arguments starting now, 8:01 PM central time.
Hearing still going on 7:37 PM Central time. EOM
News: Judge David Jones says debtors will need to defend their plan
******************
Take a look at this other case, Judge Jones is working.
ND9
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Chesapeake, Franklin Head to Bankruptcy Showdown With Creditors
by: Steven Church
Fri, October 30, 2020, 2:29 PM CDT
Steven Church
Fri, October 30, 2020, 2:29 PM CDT
(Bloomberg) -- Chesapeake Energy Corp. and Franklin Resources Inc. will need to defend their debt restructuring plan in December from attack by unsecured creditors who claim the proposal is built on a fraudulent scheme, a judge said Friday.
U.S. Bankruptcy Judge David Jones said he’ll consider the creditors’ claims Dec. 15 when he decides whether to approve Chesapeake’s proposal to exit bankruptcy by handing the company to senior lenders including Franklin. Jones also approved a disclosure statement that creditors will use to decide how to vote on Chesapeake’s reorganization plan.
https://www.yahoo.com/finance/news/chesapeake-franklin-head-bankruptcy-showdown-192918385.html
Diamond, must be a lot of money for them to be so quiet and wait so long..
ND9
Creditors claim proposal is FRAUDULENT.
News: Judge David Jones says debtors will need to defend their plan
******************
Take a look at this other case, Judge Jones is working.
ND9
*********************************************
Chesapeake, Franklin Head to Bankruptcy Showdown With Creditors
by: Steven Church
Fri, October 30, 2020, 2:29 PM CDT
Steven Church
Fri, October 30, 2020, 2:29 PM CDT
(Bloomberg) -- Chesapeake Energy Corp. and Franklin Resources Inc. will need to defend their debt restructuring plan in December from attack by unsecured creditors who claim the proposal is built on a fraudulent scheme, a judge said Friday.
U.S. Bankruptcy Judge David Jones said he’ll consider the creditors’ claims Dec. 15 when he decides whether to approve Chesapeake’s proposal to exit bankruptcy by handing the company to senior lenders including Franklin. Jones also approved a disclosure statement that creditors will use to decide how to vote on Chesapeake’s reorganization plan.
https://www.yahoo.com/finance/news/chesapeake-franklin-head-bankruptcy-showdown-192918385.html
I told you.
Mergers: Commission clears acquisition of J.C. Penney by Brookfield and Simon
The European Commission has approved, under the EU Merger Regulation, the acquisition of the retail and operating assets of J.C.Penney Company Inc. (‘JCPenney') of the U.S. by Brookfield Asset Management Inc. (‘Brookfield') of Canada and Simon Property Group, Inc. (‘Simon') of the U.S. JCPenney is an American retail company selling family apparel, footwear, accessories, jewellery, beauty products and home furnishings through its US-based department stores and website. Brookfield is a global asset manager focusing on real estate, infrastructure, renewable power and private equity. Simon is a real estate investment trust that owns, develops and manages premier shopping, dining, entertainment and mixed-use destinations. The Commission concluded that the proposed acquisition would raise no competition concerns given that JCPenney has no actual or foreseen activities within the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission competition website, in the public case register under the case number M.9979. (For more information: Arianna Podesta – Tel. +32 229 87024; Maria Tsoni – Tel.: +32 229 90526)
Daily news28 October 2020Brussels
Daily News 28 / 10 / 2020
https://ec.europa.eu/commission/presscorner/detail/en/MEX_20_1996
That is not true.
Royal Dude, I care, thanks,nd9.
Judge just denied both motions. Hearing just ended.
Sussberg never produced bidding procedure, like he promised for months and months.. now he says there are no other credible bidders..
Sussberg intro always hard to listen too... suck up, BS, lies, Crap, etc... sickening...
Geeez, so much self congratulations about working this past weekend... I guess they have never work weekends.... I work nights, weekends, holidays, whatever it takes to get job done..
Sussberg so full of crap, brown-noser, drama queen, liar, corrupt.. jmho
Badog, Kosmos gave up 5 of their 6 eez blocks to shell. Kosmos kept block 5 because it is close to their drilling and producing fields in Equatorial Guinea.
Well, eez block 4 is still a mystery.. if you look at Kosmos website or ssc filings, they never listed block 4 as theirs because of legal battle with erhc (& Total)... So not sure they ever owned it and thus, you can’t give up something you don’t own..
One of these days, we will learn more on block 4. Maybe erhc cut a deal with Total and Kosmos, or total and shell, or just Total, not sure.. but don’t count out Kosmos.. they are still producing Oil in Ghana and Equatorial Guinea and Gulf of Mexico. In a couple of years, their 100 Trillion cubic feet of natural gas fields will come on line in Senegal/Mauritania and it will be a game changer for them... fourth largest find in history..
Finally, drilling in deep water, and depending or oil and drill ship prices, can cost $1M per day.. then it will take years to actual produce from the field... just look at Senegal Mauritiania, and how many years, even with super major partner BP, how long it takes... in this day and age of low oil prices, Kosmos has decided to focus on GoM... much easier to drill and tie into existing fields, less cost, quicker return on investment.. Makes sense.. I wish it wasn’t so but I understand..
Nd9
That is not really true. Kosmos was scheduled to drill in eez next month. They had been helping with drilling details because obviously, galp has no real experience in drilling in STP eez deep waters.. however, COVID-19 and oil price crash put a stop to their drilling plan... it wasn’t that Kosmos didn’t think the eez wasn’t worthy of drilling... they just didn’t have the cash and needed to reprioritize their drilling expenditures, just like all the other oil companies.. sad but true..
Yes, I received mine today from TDAmeritrade.
BBANBOB, I am sorry but I guess I missed it.. where does the 416,300,000 million shares come from? How was that calculated?
Thanks
Nd9
ItsMyOpinion, I think you have mistaken BlackRock with the Blackstone Group who was involved with WMIH.
Nd9
Rick pumping amazon with no proof, as usual. Hey I hope amazon buys jcp. I would love that.. but there is no proof, so at least state this is your opinion.. pumpers have no shame.
Judge let sussberg off hook.. judge should have pushed him and said, “for months you have been talking about bidding process, now today you are saying there is no bidding process because you think there are no other bidders?” Ridiculous.. unless you have bidding process, you don’t really know if there are other bidders...
Judge disappointing as always
Sussberg a jerk And liar who wants to wipe us out as always
Crazy, sussberg just said he wants sale to go through, then we can talk about equity... crazy, sale first, then talk about equity?
They want to let Simon Brookfield buy op co.. and this Aurelius fight is about prop co and other assets..
I told you.. the EU is related to Brookfield and Simon... no other bids, even judge just said that, I told you, right now, no sign of amazon.
No doubt? Did you read docket item #1532? You should read it.. No mention of Amazon... Just Debtors and Simon/Brookfield buying op co.. Docket #1532 also says there are no bidder procedures for other assets and prop co...
So if Simon/Brookfield are buying op co, and no bidding procedures, what makes you certain Amazon is buying JCPenney? Where is the proof? You just post other peoples posts, pumping JCPenney.. but you really have no data supporting this... just pumping...
I hope Amazon buys JCPenney but I won't pump them because there is zero proof right now... just pumping..
JMHO
ND9
RickNagra, instead of just reposting other’s “pumps,” you might want to take the time and read Some of the information I was kind enough to provide.. ... you would be more credible.
Nd9
RickNagra, that is not accurate as I have already proved, per EU link.. the EU doesn’t just approve monopolies... not true.
Nd9
Simon has reopened 199 of its 204 U.S. retail properties in 37 states which represent more than 95% of the Company's property net operating income ("NOI"). These properties are located where governmental orders have enabled reopening and the remaining five properties are expected to reopen within the next week.
More than 18,000 stores across the Company's U.S. portfolio have reopened. Since reopening, many tenants have reported higher-than-expected conversion rates and sales.
In addition, 30 of Simon's Designer and international Premium Outlets properties are open, including all of the Company's international Premium Outlets in Asia and Designer Outlets in Continental Europe, with nearly 100% of retail stores open. The last remaining international Premium Outlet is expected to open next week. The Company recently announced the grand opening of Siam Premium Outlets Bangkok, marking Thailand's first Premium Outlet center.
https://investors.simon.com/news-releases/news-release-details/simon-property-group-provides-update-and-declares-second-quarter
Article June 29, 2020
Brookfield European Real Estate Partnership SCSp
SEC CIK #0001812800
SEC.report › CIK › Brookfield European Real Estate Partnership SCSp
Brookfield European Real Estate Partnership SCSp is registered with the U.S. Security and Exchange Commission and incorporated in the state of Luxembourg. For financial reporting, their fiscal year ends on December 31st. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by Brookfield European Real Estate Partnership SCSp.
https://sec.report/CIK/0001812800
Brookfield: A global leader in alternative asset management
We are invested in long-life, high-quality assets and businesses that form the backbone of today's global economy.
https://www.brookfield.com/about-us/who-we-are
I hope Amazon is involved but where is the proof? Just because EU is involved, that doesn't equate to Amazon.
ND9
Large Green, the EU reviews all mergers, big or small.. just go to their website below, and it states, they review them all.. the small ones have 25 working days to analyze the deal... Hard to believe they could review Amazon in 25 days... not with all the anti trust issues going on with Amazon and European Union... I hope I am wrong but just because EU is on docket 1503, for me at least, that doesn't equate to Amazon... Simon and Brookfield are both in Europe and other continents...
ND9
EU Merger Control
Competition: Merger control procedures
Phase I investigation
After notification, the Commission has 25 working
days to analyse the deal during the phase I
investigation. More than 90% of all cases are
resolved in Phase I, generally without remedies.
https://ec.europa.eu/competition/publications/factsheets/merger_control_procedures_en.pdf
BBANBOB, that's an interesting perspective.. I can't get over the fact that from your perspective, 1 share of OCN ($192M market cap) is equal to 1 share of COOP ($2.2B market cap)...
However, I don't think it's that simple.. You have to look at EPS, Cash, future earnings, debt, etc...
So I will have to respectfully disagree with you on this one.. You might be right... It just doesn't seem possible to me...
ND9
BBANBOB, I don't think that is correct... So if you do the math, COOP has 92M shares x $24.... OCN has 8M shares x $24. So if you buy OCN with a 1:1 share swap, then aren't you paying 10x for OCN... I am not a financial expert but that seems way too much...
JMHO
ND9
Klepierre
Market Capitalization
€3.2 B
2020-10-02
Overview
Situated in the most affluent, most densely populated and fastest growing consumer zones, Klépierre has access to approximately 150 million European consumers. As a major player in continental Europe’s retail property market, Klépierre has shopping centers in 57 cities and 16 countries. Its property portfolio is worth €22.1 billion as of December 31, 2015 (excluding duties). Klépierre provides leading retailers with a unique range of shopping centers that together attract more than 1.2 billion visitors each year. Like its main shareholder, Simon Property Group, Klépierre provides expertise in development and active management.
David Simon....
Simon Prop & Brookfield both in Europe
From Docket #1503: (filed 9/30/2020)
November 6, 2020 Anticipated Date of EU Antitrust Approval
I know folks are saying this is Amazon and I am hoping it's Amazon, but could it be Simon/Brookfield applying to EU? For a huge company like Amazon, hard to believe they would know they would get EU Antitrust approval Nov 6. Now, if you were a small company, then below, it says after Phase 1, you will probably be approved with no issue, after 25 working days... Read link below and it talks about the different phases depending on size of merger and or impacts.
ND9
EU Merger Control
Competition: Merger control procedures
Phase I investigation
After notification, the Commission has 25 working
days to analyse the deal during the phase I
investigation. More than 90% of all cases are
resolved in Phase I, generally without remedies.
https://ec.europa.eu/competition/publications/factsheets/merger_control_procedures_en.pdf
10/07/2020 11:15 20-20182-11 1503 J. C. Penney Company, Inc., et al., Hearing
This hearing is for document #1503
That article is 2 months old....