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.
🔥I don’t know if anyone found this yet but🔥
— Alexander The Great (@xthegreatotc) April 29, 2021
This officially confirms the $TGGI merger:
When you go to https://t.co/UBYX5EpIYS, it takes you to a website thats languaged in Chinese. (THREAD, CONTINUED!)$HCMC $GGII $WTII $TGRR $LTNC $EEENF $VNTH $GARB $NECA $DRNK $INND $KATX pic.twitter.com/D91NhHGn87
Hello Marc/Cents.
Yeah looks to be dragging out a little awhile yet. Wish I could open up law 360 article's. None professional E-mail denied me access. Lots of good info there.
I think cents has access.
Hanging in There until the end. Looks like we might be getting updated my mail soon.
Good luck coming soon.
Hello, Cents/Marc.
I just checked in sorry will keep a eye on board .
Keep me posted but also took notice 4 /21 looks to be the hot Day
Surgex
Hello Mark/Cents it looks like to me that we became debtors. Prime clerk docs this year show as such. Closed debtors cases except RCS holdings. Not only we have trust funds we also are showing equity as debtors. Called Shane Reil he is the lawyer for debtors. He told me to call the trust. He acted like I was right but to call the trust than if they refer back to debtors to give him a call back. Something don't feel right he is a direct lawyer listed on these filings. He should of new details of what is going on here. It seemed like i needed to have a lawyer. Wish I was a Lawyer that way I would know if I was right.I know we have lawsuit to wait out. I didn't call the trust yet kinda waiting to see if a doc shows up on the prime clerk trust. Does anyone know anything different/new ?..THANKS
Yeah Marc.let me know if you get word. Its been a long road. I haven't been following along for awhile. Just recently checked in. It does look better for us now,at one time it looked very grime.
Hello Cents thanks for checking in on me awhile back. Haven't been in the game for long time since this loss kinda gave up. Anyway to Marks question and to what I read looks like we're alive yet,but been wrong before.
Congrats to you Cents2ks. I don't have personal IM. Please keep me posted on anything new. Thank you. I had high hopes now hardly none.
No, not at all. Just wanted to point out that there is more than litigation funds from Nick.
9019 rule in 10.2 intercreditor issues.and 10.6 release parties mentions about consideration of classifications. 9019 in the definition comprise of classes. I have my moble app. I can't put links of such. They had objections of these releases. Maybe this goes no where but there is impaired and non impaired interest that I would be sueng for if I had the money.
Rule 9019 definition https://www.law.cornell.edu/rules/frbp/rule_9019
Thanks Cents2ks I think we're great bankruptcy rule 9019.
Thank you!!! Cents what odds do we have here for post petition value. I seen they are listed in the 5.17s also. I guess it comes down to the litigation funds. They are fighting for us ,we shouldn't have to sue as individuals correct.
Release language changes correct. Is this something of importance for us. I haven't been following this, should I have been?
Does Nick have any obligations to pay anything at this point? Time frame ? Thanks in advance.
Don't look good in Docket 735 details of payment we are last.If we don't get enough money in litigation we get nothing in the rcs plan.
It kind of looks that way to me Marc. Black line changes, securing litigation from what I can tell. I don't understand this at all don't make sense to me. They are pushing all litigation on us for payment.
Thanks cents not much different. Litigation issues in are favor.
I've learned a lot here thanks to you. Sorry for my unexperienced claims to all.
Do you think we will get any kinda pay day before litigation? Penny or two
Just checking back in. Busy day for me. Thanks cents very much appreciated here too.
Thanks for keeping us posted.
Yes, although warrants are spread out to other creditors I think. My app is on the blink again. I can't decipher these areas well.
I want to point out I believe this 387 million is only 25% of the full equity its excluding certera portion.
4ward...I would have to say both look at the definitions in docket 688 more proof of both is in there. Intercompany interest, non-Rcs affiliates, non-debtor affiliates. I would say 75%of are interest is in class 9. This is IMHO which I have mentioned previously.
Actually looks like it could be the lean holders equity docket 702 page 39. I tried to mention it Yesterday .phone app was on the blink. I haven't cover all Dockets . I Like two find more info on my theory on intercompany interest. Found more clues nothing solid.
There is more than just the commons that is getting reorganized so who really knows, whom they speaking of there its just a guess at this point.
Good find ...I saw that than could not find it again when skimng over all these Dockets. I would say that comes up to 4 dollars a share. Intercompany interest Certera portion of shares. IMHO.
Debtor in possession of operating report for the month of March......https://cases.primeclerk.com/RCSCapital/Home-DownloadPDF?id1=MzI3NTY0&id2=0..
Actually it stayed the same 65 million which comes up to 70 cents
Yes, seen that thanks again!!!!. It was late which I quit didn't understand neither. I be working Thursday not sure I be able to listen in on hearing. I think we can get a transcript of hearing after right. Although listen in on hearing would be great. You have details on to do that. I would appreciate it, I might record it if I get a chance. If not it's ok I wait it out
You definitely have a better understanding in this BK stuff than I do.Thanks for the info.
keep us posted on anything of interest.
Cents can you in lighten me what this all about. #682.... I'm lost thanks for expertise. I take it looks good to you I'm not sure what I'm looking at here.
Thanks guys !!!!
Here is news I found from today we got volume highest today in months better days ahead !!!!
By Lillian Rizzo
RCS Capital Corp. founder Nicholas Schorsch, who resigned as accounting irregularities came to light, is urging a bankruptcy court to deny the brokerage's "unlawful" restructuring plan.
In court papers filed this week in the U.S. Bankruptcy Court in Wilmington, Del., Mr. Schorsch and two companies still under his control say the plan exposes them to potential lawsuits while wrongly seeking to tie their hands when it comes to bringing their own lawsuits, among other complaints.
"The debtors' urgency in seeking to exit chapter 11 does not justify casting aside creditors' rights or confirmation of a plan that contains such blatant violations of basic bankruptcy principles," attorneys for Mr. Schorsch, RCAP Holdings LLC and AR Capital LLC said in the filing.
Mr. Schorsch founded RCS Capital in 2007 but in 2014 stepped down from its board of directors, and the boards of related companies, after accounting errors came to light. He remains the managing member and controlling shareholder of affiliated companies like RCAP Holdings and AR Capital collectively known as the ARC Group.
RCS Capital, which sought chapter 11 protection earlier this year, reached a deal with key creditors to slash its debts and to restructure around its Cetera Financial Group unit, which will be taken private following its exit from bankruptcy.
The plan, which would leave the reorganized company in the hands of its senior and junior lenders, is up for review by Judge Mary Walrath next Thursday.
One possible source of creditor recoveries under the restructuring plan is litigation. When RCS Capital filed for chapter 11 protection, Chief Restructuring Officer David Orlofsky said in court papers that accounting errors at Mr. Schorsch's American Realty Capital Properties Inc. and affiliates, including the ARC Group companies, "negatively impacted" the company's reputation and operations. He also said the relationship between RCS and the ARC Group entities could "best be described as adversarial."
But Mr. Schorsch says there's no basis for potential legal claims against him or the ARC Group companies. His lawyers say that the "recklessness in circulating these unfounded accusations as 'disclosure' to their creditors raises serious questions about their motives and adherence to other requirements."
Others that have raised objections to RCS Capital's restructuring plan include a federal bankruptcy watchdog, who called into question the treatment of some creditors; "hidden" or "overbroad" releases and discharges of certain directors, officers and third parties; and the possibility of bonuses to some insiders.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to http://dbr.dowjones.com)
Write to Lillian Rizzo at lillian.rizzo@wsj.com
(END) Dow Jones Newswires
April 28, 2016 15:54 ET (19:54 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
I wonder how things turn out with qualifications of master mortgage standards. We may get pay back or lean holders back out. From docket 649.
I want to point out as of April 19 joint court court ordered schedule joint conformation hearing for RCS and Certera plan May 5. From 645 background 10
In the plan now old plan we hope . You are right they never explicitly said exclusion of the shares , in there definition of intercompany interest they were trying to do that.from objections in #645 With words debtor and affiliate now they contest there definitions is covering there butt.
In either case it's definitely going to be a fun ride here. Market should respond to today's activities. Up.up and away.
Mr Schorsch is fighting for his shares that were excluded. If he gets paid we get less. Imho
Why I'm asking I have over 1% would it be better have a group bundled up to tally higher percentage.
That's not so good.The site is empty nothing at this point. It does say shareholders to contact board of directors.Cents do as a shareholders have advantages per percentage of shares or disadvantages I should say with holding less than 1%?
Looking even better here thanks for posting! !!!
I seen a extention on the financials recently. I wonder how much money we get for that.