Good Luck
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Don't expect anything to come out of it....Also Ihub will take this board down in a couple of days and so it would be wise to download whaterver you want from this board...
It will stay there for 6 months or more....
this is trading under PAR? PAR value is $1
The shares will be posted for trading on a "when-issued" basis on Friday and be listed officially on the TSX when the initial distribution is completed, said the trading note.
All trades on Dec. 10 and 13 will be for special settlement on Dec. 17, while trades Dec. 14-16 will be for settlement three business days after the trade date.
In anticipation of this initial distribution of shares, AbitibiBowater's original listing in the TSX's industrial category will have nearly 106.2 million shares, of which 97.1 million shares will be issued and outstanding and nine million shares will be reserved for issuance.
We need to initiate class action....
Law360, New York (December 8, 2010) -- The factions in The Tribune Co.’s bankruptcy submitted revised disclosure statements attached to their competing reorganization plans by Wednesday’s deadline and awaited a judge’s order to begin soliciting votes from creditors.
At a hearing Monday in the U.S. Bankruptcy Court for the District of Delaware, Judge Kevin J. Carey indicated that he would approve the statements, but no order had been...
Why MMs don't want to do business with Rafferty?
Lite day, only 8 million shares so far.....
Famous,
Make me these documents!
The appellant designation is due 14 days after the filing of the notice of appeal. See Fed. R. Bankr. R. 8006. It must include the document number from the docket sheet for each designated document pursuant to the Notice of Guidelines Regarding Appeals. However, exhibits and transcripts that have not yet been filed may be listed on the designation without a document number. The statement of issues may be included in the same document as the appellant designation, as long as the appellant designation event was used for docketing.
It is ironic/sad that they follow Smurfit path and when it comes to equity, they are just ignoring it...
The appellant designation is a list of documents, chosen by the appellant, from the official bankruptcy court record, upon which the bankruptcy judge relied in deciding the appealed order, judgment or decree.
The appellant designation is due 14 days after the filing of the notice of appeal. See Fed. R. Bankr. R. 8006. It must include the document number from the docket sheet for each designated document pursuant to the Notice of Guidelines Regarding Appeals. However, exhibits and transcripts that have not yet been filed may be listed on the designation without a document number. The statement of issues may be included in the same document as the appellant designation, as long as the appellant designation event was used for docketing.
9 Million shares in one hour!
5 Million shares by 11....crazy!
About NAFTA:
The Agreement asserts that the settlement award will only be granted if, and when, AbitibiBowater rises out of bankruptcy under a new corporate structure in Canada (the “New Company”). This despite the fact that the resources expropirated from AbitibiBowater (in Dec 2008) was before it filed for bankruptcy protection (Apr 2009). This term in the Agreement is highly controversial given the core dispute whereby the stakeholders of the current Company, and not the New Company, were denied their rights.
There is more then $5 billion in timber
By Peg Brickley
Federal bankruptcy watchdogs say Houlihan Lokey Howard & Zukin failed to file a timely report of its ties to two of three investment funds that financed the bankruptcy of Aventine Renewable Energy Holdings.
The late disclosure should cost the financial-advisory firm half of the nearly $5 million it is seeking for work as Aventine’s financial adviser, U.S. trustee Roberta A. DeAngelis said in a filing Wednesday in the Wilmington, Del., bankruptcy court.
“We believe the firm’s actions were consistent with established bankruptcy rules and requirements,” Houlihan Lokey said Thursday in a statement released through spokesman Michael Utley.
Aventine was one of the many biofuels producers that piled into bankruptcy in recent years, a casualty of a squeeze in the capital markets and a decline in the price people were willing to pay for ethanol, a gasoline additive.
The company’s Chapter 11 case started off with excitement in the spring of 2009, as hedge funds connected to Whitebox Advisors LLC, Brigade Capital Management and Nomura Corporate Research and Asset Management jousted successfully with banks over the right to offer Chapter 11 financing.
AbitibiBowater Rises on Bankruptcy Exit
AbitibiBowater Inc. (ABWTQ, Free Analysis), a producer of specialty papers for newsprint and other uses, rose more than 45% after the U.S. Bankruptcy Court issued an opinion confirming its plan of reorganization under Chapter 11, clearing the way for its emergency from creditor protection. Despite the likely cancellation of common shares, the common stock surged sharply higher.
The company has entered into commitments for debtor-in-possession financing totaling approximately $300 million, as well as an amendment providing for the continuation of an existing securitization program for its accounts receivable, in the proximately amount of $210 million. The company’s common stock is currently trading for around $3.29 million.
http://sumfolio.com/top-3-small-stocks-with-big-moves-954/
and 12 million shares...
This is crazy..
I need to get in touch with you!
I need Ilenes' contact info....
slow and steady buys?
Lite day only 16 million share...
This Expert Report has been prepared by Steven M. Zelin and others under his supervision at Blackstone at the request of Washington Mutual,
Inc., et al. before the US Bankruptcy Court for the District of Delaware (“Bankruptcy Court”)
?? Mr. Zelin is a Senior Managing Director in Blackstone’s Restructuring and Reorganization Group, an industry leader in providing advice to
debtors and creditors in large, complex restructurings
?? Mr. Zelin will provide expert testimony regarding his opinion of the following assets of WMI (together the “WMI Assets”):
?? Valuation analysis of WMI as collectively reorganized (“Reorganized WMI” or the “Company”), which includes WM Mortgage
Reinsurance Company (“WMMRC”), WMI, and WMI Investment Corp., as of December 31, 2010
?? Valuation analysis of Reorganized WMI’s net operating losses (“NOLs”) as of December 22, 2010
?? Valuation analysis of the Subscription Rights to the Rights Offering as contemplated in the Plan of Reorganization (the “Plan”) as of
December 31, 2010
?? Mr. Zelin’s testimony is part of the services provided by the engagement of Blackstone by WMI. The compensation for such engagement (1) is as
follows:
?? A retainer fee of $500,000 earned upon Bankruptcy Court approval of Blackstone’s retention
?? An additional fee of $850,000 earned upon completion of Blackstone’s valuation
?? A monthly fee of $75,000 beginning on September 1, 2010, subject to approval by the Bankruptcy Court
?? Reimbursement of expenses incurred in connection with Blackstone’s retention and valuation
?? In addition, Blackstone has been asked by the Company to represent it in the potential sale of the WMMRC asset. If the sale process
commences, compensation for the engagement is as follows:
?? A transaction fee of $2,000,000, payable upon the consummation of a sale, which includes a non-refundable $500,000 retainer fee
?? Reimbursement of expenses incurred in connection with advising on the sale
?? Blackstone’s compensation is not contingent on the conclusions reached in this Expert Report and / or any outcome of any proceedings pending
before the Bankruptcy Court
http://www.ghostofwamu.com/documents/Examiner/4494/WMI_BX_701361066.00001.pdf
________________________________________________
(
Commencing in February 2002, Mr. Bingham began to interface with representatives of
Blackstone to discuss the formulation of a computerized model to synthesize estimates and
projections regarding assets and liabilities, as well as to calculate Creditor recoveries under a
chapter 11 plan depending on various assumptions and variables. (Bingham Affidavit ¶ 15;
40
6/7/04 Zelin Tr. at 21:3 – 23; 6/3/04 a.m. Bingham Tr. at 67:18 – 68:6). Blackstone devised the
Distribution Model, which is described in Appendix C of the Disclosure Statement. (Debtors’
Trial Ex. 8; 6/7/04 Zelin Tr. at 27:23 – 26:4; Debtors’ Trial Ex. 24 at 23, 130 – 156; Bingham
Affidavit ¶ 15). Mr. Zelin, the Debtors’ expert, has supervised the creation of financial models
in many other chapter 11 cases. (6/7/04 Zelin Tr. at 20:8 – 16). The Distribution Model has
been extensively diligenced by the Debtors, the Creditors’ Committee and its advisors and the
ENA Examiner and his professionals. (6/7/04 Zelin Tr. at 25:16 – 26:11; Debtors’ Trial Ex. 24
at 23). Moreover, the well-diligenced Distribution Model allowed the Debtors to evaluate the
various potential inter-estate issues that might exist and determine the economic consequences of
various positions and the potential impact on creditor recoveries. (Debtors’ Trial Ex. 24 at 132
On January 15, 2003, the Debtors made a presentation to the Creditors’ Committee
suggesting an approach to consider the treatment of Claims and the mechanics of distributions.
(Bingham Affidavit ¶ 16; Debtors’ Trial Ex. 14). The Debtors and the Creditors’ Committee
continued to engage in substantive discussions regarding the outlines of a plan and subsequently
agreed to a 30/70 distribution formula included in the global compromise and the Plan to resolve
a variety of inter-estate issues, including substantive consolidation. (Bingham Affidavit ¶ 16).
two large block of about 7.5 million shares trades. That is 15% of outstaning shares in each block....How can SEC not look into this?
What you make of this volume?
Looks like they will trade 150% of the flot....
glad to see you back!
7.9 Mllion share block at 0.049
You will be back in....
8 millions shares in 1st hour..go figure!
Whole market is rocking....Question is what about ABWTQ?
That is the only player who can buy so many shares and benefit if Judge grants some non material recovery. They can even buy more then total outstanding shares as long as MMs are willing to short. They are playing poker but they have seen opponents' cards..
Based on the Liquidation Analysis, the Debtors believe that the Plan provides a
superior recovery to holders of Impaired Claims, including Claims and Interests in Classes 9A
and 9D, than would be available in a liquidation of the Debtors’ estates.26 The estimate of the
distributable value available for creditors of each Debtor under the Plan equals or exceeds the
estimates of values set forth in the Liquidation Analysis. Accordingly, the Plan satisfies the
best interests test.
Check your PM!
Isn't ARCA Goldman?
Who is buying 13 million shares?
So many investors must be owning more then 5% stock, arn't they required to file with SEC?