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The price would still be $0, $0, $0. 0 is a magic number. Learn to embrace 0. You probably also think McGregor will win.
It's going to be a private company. The shares will be traded on a private exchange among the creditors. At some point in the future it may IPO again, but probably not for years.
So next time when shareholders say "if the stock is really going to 0, then who's buying at $0.006? Must be big boys who know something." Can I just reply it might be people like you?
KKR lawsuit is specifically seeking recovery for preferred shareholders who bought shares during the preferred shares IPO at $1000 a share. Not for those who bought preferreds afterwards or common shareholders. The other class actions are all stayed until the end of bankruptcy. The main common shareholder class action, https://www.blbglaw.com/cases/00283, was for shareholders of record before April 5, 2016. There's no need to hold shares from April 5, 2016 onwards to be represented in the class.
$0.007 is a gift. Would you not take a scoop of ice cream as a gift? If so, then selling here is wise.
You might be onto something. Please submit your findings to bernstein.chambers@nysb.uscourts.gov asap. Not a moment to waste.
"Thank you for your inquiry. Prime Clerk is the Claims and Noticing agent appointed in
the chapter 11 cases of SunEdison, Inc. As such, we are not permitted to provide legal
or financial advice.
The Debtors have filed an objection and proposed order relating to your claim (no.
1035). Should you wish to respond, instructions are outlined on page 2 of Docket
number 3734. You may view the document here:
https://cases.primeclerk.com/sunedison/Home-DocketInfo
According to the Disclosure Statement (see page xxiii in the pdf), all Class 8A interests in
SUNE shall be deemed to be cancelled on the effective date, without further action by
16-10992-smb Doc 3763 Filed 08/01/17 Entered 08/01/17 08:07:30 Main Document
Pg 1 of 3
the Debtors. The accompanying Plan of Reorganization was confirmed by the Court on
July 28th, 2017 (Docket no. 3735). You may review the entire filed Amended Plan
(attached as Exhibit A to Docket No. 3265) and the entire First Amended Disclosure
Statement (attached as Exhibit A to Docket No. 3314) on our website here:
https://cases.primeclerk.com/sunedison/Home-DocketInfo?DocAttribute=2751&DocAtt
rName=PANAMP%3BDISCLOSURESTATEMENT.
You may wish to consult your own legal counsel regarding the proposed order and its
impact on your claim as well as your legal options relating to your claim."
Only relevant to the investors who invested in the $650M of preferred stock. http://www.prnewswire.com/news-releases/sunedison-announces-pricing-of-650-million-of-perpetual-convertible-preferred-stock-300129905.html
There's no expected recovery for these preferred. Last traded at $0.10 a share.
https://www.google.com/finance?q=OTCMKTS:SDSNQ
But a legit gripe from the investors who pumped in $650M in August 2015 at $1000 a share and wound up with a company on the verge of collapse 2 months later and eventually suffering a total loss. The market cap of that $650M in preferred stock is now only $50k. They would have done much better if they waited and became 2nd lien creditors, or waited some more and became DIP lenders.
This does not help shareholders who bought after the news of the margin call. I believe the news of the margin call came out in December 2015 shortly after the November 25 massacre. I was a shareholder prior to the massacre and sold in January 2016 after the news SUNE couldn't file their financials due to poor internal controls, so hopefully I can recover some losses.
But the preferred shareholders have a very valid claim against Goldman Sachs. They're receiving zero in BK and they bought into the preferreds at $1000 a share in late 2015 and never received a dividend. How does it feel to go from $1000 a share to $0 in months knowing the underwriter for your shares margin called on a loan triggering the company's collapse.
The shares probably won't be cancelled until SUNE re-emerges from Chapter 11. When they're cancelled, they will be listed on http://otce.finra.org/DLDeletions.
Bagholding is an innate trait.
You realize that in order for old shareholders to get anything, all the old debt needs to be paid off first. The old debtholders are only agreeing to cancel their debt in exchange for new shares of SUNE and TERP and access to the GUC. If SUNE and/or TERP are sold after the debt is cancelled, then money goes to the new shareholders of SUNE and TERP.
Hearings will continue well into next year and maybe into 2019. They will have nothing to do with shareholders. Shares will be cancelled when SUNE emerges from bankruptcy before the end of this year.
POR approved. gg. Better luck next time to us all.
Weren't shareholders condemning Paul Gaynor? Can't have it both ways.
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTAyODkx&id2=0
Sure, if you're looking for a pump and dump. I doubt the judge will give even $500K for an OEC when the unsecureds are getting 3 cents on the dollar. So yes, if you're looking for that 1/100 chance an OEC will be given for a 10 bagger, then fine. The EV on that play is 0.003, it has to be 1/10 chance for it to be an even money play. And 99% of the time, you're going to lose 66% of your money when it falls to $0.01 after the OEC is denied again. Even with an OEC, the eventual outcome is still 0 since the shareholders will not find enough value for equity. There have been no findings of additional value since the last time the OEC was denied.
Read the Prime Clerk vote tabulation, docket 3651.
Lol, the deal with GLBL saved SUNEQ from filing for 5 more months. SUNE shot up 40% on the GLBL deal announcement. Without the deal, SUNEQ would've defaulted on November 25, 2015 as it was margin called when TERP fell below $15. With cross default provisions and a cash shortfall, they would have had to file for bankruptcy in December 2015. Senior execs would have been indicted. The irony is if that had happened, at least shareholders had a clear case for a class action lawsuit. Now the bone has been picked clean.
You'll know how much your year's worth of dd and experience are worth in the coming weeks. I've been through enron, worldcom, kmart, american airlines, and this bankruptcy is nothing like american airlines.
Not all creditors will be onboard, but there are enough votes to pass the POR once it's been approved. The dissenting creditors are trying to say that the ones voting for the plan have been paid off for their yes votes through a sweetened deal. That they want a part of the deal too. In the end, it's a negotiation between the 2 groups of creditors. Will one group give a bit to the other group? Nothing to do with shareholders. The debtors think the plan is approvable, if the judge says no, then the 2 creditors just need to iron out their differences. None of them will be giving anything to the unsecured creditors, let alone shareholders.
$0.04 is a gift. Think about selling here and buying back at $0.02 for a run up to $0.03. Still good for 50% returns each round. Then buy back at $0.01 for a runup to $0.015. But need to trade at least 1M shares for the trip to be worth while. I might go in for 2M-3M shares at $0.01 on Friday morning after the POR is approved this Thursday afternoon.
Asset book value < consolidated asset book value, asset market value < asset book value. asset market value <<<<<< L.
Don't only look at numbers, understand what the numbers mean. See SDRL: $21.6B asset book value, $11.6B liability book value, and soon coming to a bankruptcy court near you.
The reason is internet says so. Internet can't be wrong.
Congrats commons. What a victory! Time for you guys to celebrate. Maybe time to consider buying that vacation home and muscle car.
They didn't want to give up $0.04 before, now they don't want to give up $0.03. Hope they don't give up $0.02 next week, and refuse to give up $0.01 the week after that. It's clear the big boys are soaking up all the shares from dumb sellers.
Congrats again commons.
MACD looks to be crossing over into the positive. Nice healthy bounce on the lower bollinger band today. RSI is increasing and the stochastics primed for a bounce. LOL. Congrats again commons. Shareholders need to write a letter to the judge explaining that the stock can't be cancelled because then the MACD would be wrong, and we all know that the MACD is never wrong. Just need to get this concept into the judge's stubborn skull.
The only thing worse than coming to terms with getting zero is to realize you just wasted over a year of your life and energy on a hopeless case because you followed analyses of clueless internet posters who have no concept of financials and the legal system or even have basic reading comprehension. Each point of the long thesis have been roundly debunked in court.
At what point do longs stop averaging down? There is one play left I agree. When the POR is confirmed the stock should drop to around $0.02 or less. But that should be a few weeks before the stock is cancelled. Shrewd traders can pile in on the high volume when most longs finally capitulate. So if traders can get about $0.02 average, I can see it having a final run to about $0.03-0.04 before the stock is cancelled. That's 50%-100% returns almost guaranteed. But you need to buy on high volume and sell on high volume to make it work.
What those two did was go directly to the board to get Chatila fired. It was partial whistleblowing, partial power play. At that point, the board knew if they acted against Chatila, the whole house of cards would collapse and SUNE would immediately default and probably be investigated by everyone for fraud. These directors would be defendants along with the officers. I think the D&O did plan this out and acted unethically to minimize individual liability at the expense of investors and business partners, but bankruptcy was a forgone conclusion around August or September of 2015 as soon as TERP's stock fell below a certain threshold. GLBL's IPO, SUNE preferred offering, and debt equity swap should never have happened.
Trust me, there's no shortage of these people. They will not believe the shares are getting wiped until the day it happens, then cry foul about how it was all so unexpected and how the market is a big casino and only shorts and hedge funds win.
News flash. Nastasi is no longer even representing the shareholders.
Not really, Domenech and Perez probably just want to settle for a piece of the pie.
Yes, and 0.000001 to 0 is a 100% return. But margin requirements and borrowing costs make it a bad trade at this level unless you're already in a short position. Earlier this year, BTUUQ was a 100% zero when the POR was approved, but the stock still traded at $4 a week prior to cancellation. That was a much better short for me. I'd short SUNEQ everytime it crosses $0.15 but not at $0.05.
As a followup, the judge approved the GAM transfer to TERP today.
Here is the paragraph on Oracle
"Notwithstanding anything to the contrary, nothing in the Motion or Order (i)
assumes or assigns any contracts between the Debtors and Oracle America, Inc., successor in
interest to Taleo Corporation and Hyperion Solutions Corporation (collectively, “Oracle”), (ii)
transfers any licenses thereunder to TERP, or (iii) expands the scope of the current license
agreements between the Debtors and Oracle."
When you say vultures, you mean speculators and hedge funds, not SUNE management right? This is what makes a market, it happens everyday everywhere in the world, so in that regard it is public knowledge. It's been happening for over a thousand years. South Sea company, tulip bubble, etc. There are thousands of bankruptcies every year and every impaired investor feels the same way SUNE shareholders do. Nothing unique about this case at all. I was just at a bankruptcy auction last week where I bought up inventory and equipment literally less than penny on the dollar in a firesale. This is what happens during bankruptcies.
How about you say it? Not one impaired party has motioned for a clawback of yieldco assets to the court. Why is it that lawyers and other professionals who do this for a living and who have gone through thousands of pages of privileged documents know less than some random nobody own reads a hack article based on nothing by some other random nobody?
And you would be wrong.
There's no money to be made shorting SUNEQ anymore. How much can shorts still make relative to what they already have made? A short who shorted at $15 made 99.67%. So a $1,000,000 short position already made $996,700.
Oracle is the same as SAP. My company has used both. Oracle/SAP charges a one time license fee for new licenses and an annual maintenance support fee per license. TERP wants to avoid paying the one time license fees again, but Oracle is not giving consent to the transfer of data until they pay the fees. We're talking few hundred thousand dollars max. The new cloud vendor for TERP can probably convert the SQL data over in the worst case scenario.
How serious is Oracle taking this? Not so much that they can spell TERP right in their filing.
Simultaneous Use Of Any Oracle Agreement By The Debtors and TERF
Is Not Authorized.
17. If the TSA contemplates that the transitional services the Debtors will provide to
TERF includes the shared use of Oracle licensed software and services, or if the TSA purports to
grant to both the Debtors and TERF the right to simultaneous use of, and access to, Oracle’s
software, such use exceeds the scope of the permitted uses under the Oracle agreements, and
constitutes an unauthorized splitting of the respective licenses.
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5
18. Oracle objects to any transitional use that exceeds the scope of the permitted uses
under Oracle’s agreements, and further objects to any unauthorized “splitting” of its licenses
between the Debtors and TERF.