Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
When water breaches the bow, probably dorsal fins.
non-working website contact:
Krusecom hank.laws@greenenergymasters.com
400 Royal Palm Way
Palm Beach, FL 33480
US
561-629-5713
Running out of ideas of how to re-arrange the deck chairs here.
Ed is re-arranging deck chairs here.......
easy to use T/A tool for srge
www.stockhub.com/pages/charts/SRGE
that ASK has Thinning out
Must mean the dump is almost complete.
NOLs remain a good insurance policy for existing common, and an incentive for preservation of existing common, provided Kodak can demonstrate solvency. It all comes back to asset sales.
Hardly. You do realize there is an exemption that allows the use of existing NOLS even if commons are toasted....which they will be.
Asset sales have been a flop. This thing trading around 20 cents forever is the gift that keeps on giving. Plenty of time to exit....but some don't know what to do with a 'bird nest on the ground'.
Kodak will not take steps to demonstrate solvency....even if they could. They want to dump as many creditors as they can. This isn't about what is right, fair, or anything of that nature. This will be about insiders getting a percentage of newco for nothing, and the more creditors they can flush will mean more newco equity in their pockets.
Back up the truck....lol
How many reasons would you like?
For one, there may be a group or individual on the EC that tries to highjack the committee to line their own pockets. (Contrary to popular belief, this does happen....and often.)
For two, the simple fact that preferreds are ahead of commons, and the EC represents the preferreds also.
I could think of a half dozen more right off hand, but it's not worth the effort.
Having an EC appointed can only be good for commons.
Not necessarily.
That's easy to do if someone has a GTC limit order in (that is set low).
lol No 'make whole' provision is a slam dunk. I suggest a little DD on relevant case law.
Allegations are to be taken as true for purposes of these types of filings, but a Bankruptcy court is generally a 'bench trial' court, meaning the judge is both the interpreter of the law, and the decider of the facts. In 'normal' civil court settings in which a jury trial is demanded, a jury is the decider of the facts, and the judge is limited to interpreting the law.
The motion makes 3 arguments, in order of strongest to weakest. For those guys to make their strongest argument based upon the notion that 'make-wholes' are some type of settled area of bankruptcy law because of Judge Gerber is foolish. Gerber allowed make whole in the Chemtura case, although this area of law had no precedent at the time. Still doesn't as far as I know, although there was a case decided at the District level that determined that 'make wholes' were not allowed (which came shortly after Gerber's ruling).
I would tend to think the fraudulent conveyance argument would be their best, but my opinion doesn't matter.
Strange how certain future double-lung transplant recipients feel the need to blow every dime awarded (that was supposed to pay for the transplant) before they get it.....8 years after the fact no less.
Damn con artists.
http://news.yahoo.com/popcorn-lung-couple-gets-20m-award-files-bankruptcy-170854004--abc-news-money.html
Well I would hope not since it was a wikipedia link to the captain of the Titanic.
Believe what you will about whatever, but that lame disclosure about the mystery surrounding the last dry hole they drilled made this thing smell worse than rotten fish.
I can't see this meaning diddly to the Colombian government. Did they buy any of that last 50 cent equity offering?
Not to worry, Edward Smith is at the helm.
http://en.wikipedia.org/wiki/Edward_Smith_(sea_captain)
Rough number is about 36 cents worth per old share. Glad I sold before emergence. Better disclosure sure would have helped. Litespeed can have their losses and their 5 year wait.
lol I sure hope you're not being serious
Question for whoever can answer it. Are the warrants tradable? With the pitiful disclosure surrounding the warrants, I decided to let Litespeed with their infinite wisdom go through the share exchange upon BK emergence.
As it currently stands, the warrants are over 2 billion out of the money. Wouldn't hold my breath just yet on seeing that 4 bil number.
So unless there is a market for the warrants, Litespeed just took an approx 65% dump on their investment.
I wasn't about to pay more than 20 cents for this dog pre-emergence and was thinking "what a gift" for someone to dump in the .40-.50 range (whilst Litespeed was buying everything up).
Somebody jump in here and tell me what kind of opportunity I missed.
Aren't the old shares calculating to have about 16 cents of value post emergence?
This has the makings of a train wreck.
Yeah, here you go too
Took longer than I expected
Could you kindly point me to the section of the Bankruptcy Code that includes the word "honest"?
Well that's something you need to come to grips with.
Also, bankruptcy courts have limited power to be proactive. They simply function as a yes or no reactive to requests put forward by the lawyers, via motions.
Lawyers ask for relief (along with the supporting law that can make the requested relief possible), the court says yes or no.
Courts are not dictators.
http://news.yahoo.com/colorado-man-awarded-7-2-million-popcorn-lung-000103163.html
Biggest con man out there...well maybe not the biggest, but surely an honorable mention.
Dirty holes in the ground -vs- commercial malls. Difference between GGP and here is that GGP was making money, PCX is not. GGP had a ton of debt they couldn't refinance when the credit markets dried up. The credit markets are not dry now.....yet.
Drop the GGP comparison. There is no comparison at all.
That is correct. The Feds have cracked down since the days of 'no doc' mortgages and the like. The mortgage fiasco, aka making loans to folks with 500 credit scores for 500K houses, put the spotlight on all kinds of lending, including commercial.
The reality is that very few folks can walk into a bank and get any money these days, whether they have 750+ credit score or not. Fact is that banks can turn people down for any reason they please. One reason would be that the buyers of gasket guy aka M Sherman didn't have diddly squat in business experience for that type of business and was most recently at the helm of a company that went belly up.
If I was the guy making the call at the bank, I'd laugh Sherm out the door.
Its got nothing to do with the judge or the board of directors. The obliteration you speak of rests solely with the attorneys retained by the board of directors and their associated financial advisors and CRO.
That 'middle finger' comment by a previous poster is one of the most accurate realities offered for consideration to this forum.
Here, let the commie pinko explain that we live in a republic, not a democracy.
Somebody must not have learned the words of the Pledge of Allegiance
Watch the whole thing:
No surprise. Their arrogance overloaded their arse and they went about it the wrong way.
Anomaly? More like business as usual with this management team.
Sorry charlie, that is not my information, that is supplied by the company. The data is what is subject to the jurisdiction of the bk courts of the united states. What you don't seem to understand is that the 10q's are consolidated with foreign assets....and those assets are out of reach of US jurisdiction.
The company WILL NOT repatriate foreign cash and take a 38% haircut to get it back here.
You can thank the tax laws of the US for that little problem.
I noticed you didn't comment on the consolidated 665 million loss for the last six months.
Like in 6 more months, as if any of this will matter if they can't turn a profit, which is something they haven't done in years.
lol really? Current cash as of June 30 = 550 million. Dip obligation 950 million. Loss just for month = 160 million. Cash bleed = 5.3 million per day including reorganization charges. Cash bleed = 1.1 million per day without reorganization charges (like if they weren't in bk).
They haven't fixed squat.
There is this thing called facts. They can best be summarized viewing the Monthly Operating Reports as found in the case docket. Here is the link to the most current one:
http://www.kccllc.net/documents/1210202/1210202120730000000000013.pdf
Last three reports:
April net loss = $91 million
May net loss = $88 million
June net loss = $160 million
bravo bravo
I would expect than kind of response from someone with a very limited knowledge of the bankruptcy process. But until you've seen the reality that goes on 'behind the curtain' and been subject to confidentiality agreements and such.....watched a worthless CEO twiddle his thumbs outside an 'all hands' meeting while the lawyers pulled the levers and shot the finger at one another in another room to determine whether common would see a dime.......you just go right ahead and keep believing as you will.
Every time I read this message board, I wonder who I can send a bill to compensate me for the 10 minutes of my life that I've just wasted.
A few things to note:
1. Hedge funds are not your friend, not even if they hold common shares. Whether they are funds in the creditor position or equity position, they could care less about retail holders.
2. Creditors ALWAYS say common is out of the money, whether they are or are not.
3. Bond holders almost ALWAYS say creditors, such as trade claimants, are out of the money.
4. Management, who are the people that drove it in the ground, will receive NEWCO equity and incentives for a 'successful reorganization'. The definition of 'successful' is to survive at all costs, including taking a dump on creditors and stockholders.
No matter how much case law, constitutional law, bankruptcy code, etc, you drag up, the concept of 'owing a fiduciary duty to stockholders' is NONEXISTENT. The BOD is not running the bankruptcy process.....the lawyers hired by the BOD are.
Furthermore, the 'court' or 'judge' is not a dictating position. They make decisions based upon what is placed in front of them. They ALWAYS favor the debtor's position.
These are the facts. This is how it is and once you get your arms around the aforementioned facts, then you'll have a lot better understanding of the process.
The winner of the auction may well be the DIP lenders. In other words, Kodak may give the IP assets to the DIP lenders in a 9019 settlement in lieu of the entire or partial debt obligation.
That's what it looks like to me right now, and I predict a big ole dump in the price of commons in the not-to-distance future.
Apple's claims to the IP assets and the associated appeal have put the kabosh on bidding.
No and that makes it painfully obvious that if you haven't increased your net worth by at least 5% year over year for the last 4 years, then you are in fact going backwards.