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so your holding 1 million shares of cotrp.
1st lien Minority group is saying their bid is worth $600 million more then the debtor's and calling the Dip bullshit. You should really take a few minutes and read this. It's opening statement is beautiful.
As true disciples of Gordon Gekko himself, the DIP Lender Group4 would have
this Court believe that “[g]reed, for lack of a better word, is good.” But, “[t]he thing with money
is, it makes you do things you don’t want to do.” Or put another way, money makes you do things
you cannot do or should not do. And here, the lure of a windfall has so clouded the DIP Lender
Group’s judgment that its members are seeking value far in excess of their entitlements under the
pg 6
The PropCo Sale should not be subject to hearing on November 2, 2020, and instead
its approval should be considered solely in the context of the confirmation hearing scheduled
for November 24, 2020.
as far as I got.
-48.56% Discouraging but hanging on. if I doubled down at this point i could be close to .26 average. I would have no problem with that and having to wait for better times, but we have this 1 little element hanging above our heads is that Commons could be wiped. if that was off the table I would 3x down and wait it out. let's see where this goes. Hopefully the F'in Judge will do his job. Wished he cared about all as he does his own EGO. Judge Ego and rubber stamping.
what are you on the whale horn. nice size lots going through.
or that 350K just now
I guess this guy didn't read it.
0.191
x 175000U -0.0055 (-2.80%)
Doc 1607
NOTICE OF SALE OF SUBSTANTIALLY ALL OF THE DEBTORS’ ASSETS
PLEASE TAKE FURTHER NOTICE that a status conference regarding the Sale Motion
(the “Status Conference”) will be held on October 26, 2020, at 3:00 p.m. (prevailing Central
Time), before the Honorable David R. Jones, In the United States Bankruptcy Court for the
Southern District of Texas, located at Courtroom 400, 4th Floor, 515 Rusk Avenue, Houston,
Texas, 77002.
PLEASE TAKE FURTHER NOTICE that a hearing (the “Sale Hearing”) to consider
the proposed Sale will be held on November 2, 2020, at 1:00 p.m. (prevailing Central Time),
before the Honorable David R. Jones, in the United States Bankruptcy Court for the Southern
etrade was there at .26 but now it's back to .20. This has been almost a daily thing for about a week.
Today was a dry powder day for sure. Very sad for me today. My dry powder just bought a new furnace instead off JCPNQ. 4k @ .16 could of, would of should of been 25,000 shares. I had orders place all over the place until last week. And I knew it when I purchased the F'ng furnace. Really honey we a wood stove. Life goes on. I'm stuck in a house to flip. A happy wife a happy house doesn't matter on JCPNQ. BUT BUT if JCPNQ pays well we get high heals. and the inversion table.
and I hit auto dial and was right back in. lol
we know and that plan will be scrapped with the new bid offer. and still no value on JCP.com in those 290 pages.
dry powder time
Doc1590 290 pages
Following extensive negotiations and the invaluable efforts of Judge Marvin Isgur, the
Debtors hereby file forms of the following Transaction Documents and related pleadings:
? the Asset Purchase Agreement, dated as of October [], 2020, by and among Copper Retail JV
LLC and Copper BidCo LLC, as Purchasers, and J.C. Penney Company, Inc., as the Company
and the Other Sellers Named Herein, as Exhibit 1
? the Credit and Guaranty Agreement, dated as of [], 2020, by and among [], as Borrower, [],
as Holdings, Certain Subsidiaries of Borrower, as Guarantors, the Lenders Party Hereto from
Time to Time, as Lenders, GLAS USA LLC, as Administrative Agent, and GLAS Americas LLC,
as Collateral Agent, as Exhibit 2.
? filed substantially contemporaneously herewith:
PURCHASE AND SALE OF THE ACQUIRED ASSETS;
ASSUMPTION OF ASSUMED LIABILITIES
Purchase and Sale of the OpCo Acquired Assets. Pursuant to sections 363 and 365
of the Bankruptcy Code and on the terms and subject to the conditions set forth herein and the Sale
Order, at the OpCo Closing, Sellers shall sell, transfer, assign, convey, and deliver to OpCo
Purchaser or one or more Designees, and OpCo Purchaser or such Designee(s) shall purchase,
acquire, and accept from Sellers, all of Sellers’ right, title, and interest in, to and under, as of the
OpCo Closing, the OpCo Acquired Assets, free and clear of all Encumbrances other than Permitted
Post-Closing Encumbrances. “OpCo Acquired Assets” means all of the properties, rights, interests,
and other assets of Sellers as of the OpCo Closing, whether tangible, or intangible, real, personal
or mixed, wherever located and whether or not required to be reflected on a balance sheet prepared
in accordance with GAAP, including the following assets of Sellers, but excluding in all cases the
Excluded Assets and the PropCo Acquired Assets:
(a) the OpCo Assigned Contracts, including any Contracts designated for
assumption and assignment pursuant to Section 1.7 and including, for the avoidance of doubt, any
rights of indemnity, warranty rights, rights of contribution, rights to refunds, rights of
reimbursement and other rights of recovery possessed by Sellers therein as of the OpCo Closing;
Case 20-20182 Document 1590-1 Filed in TXSB on 10/20/20 Page 9 of 150
3
4840-1977-2619v.21
(b) all OpCo Closing Cash, all bank accounts (other than those listed on
Schedule 1.3(c)) and all Accounts Receivable of Sellers, in each case, as of the OpCo Closing;
(c) without duplication of any other OpCo Acquired Assets, all royalties,
advances, prepaid assets (excluding prepaid Taxes of Sellers), security and other deposits,
prepayments and other current assets (excluding current Tax assets), in each case of Sellers as of
the OpCo Closing (but excluding all interests in the Excluded Insurance Policies and all prepaid
assets to the extent relating to Excluded Contracts as of the OpCo Closing);
(d) all Documents that are not Excluded Documents;
(e) the Owned Real Property other than the PropCo Acquired Owned Real
Property (the “OpCo Acquired Owned Real Property” and together with the PropCo Acquired
Owned Real Property, the “Acquired Owned Real Property”);
(f) the Leased Real Property other than the PropCo Acquired Leased Real
Property (the “OpCo Acquired Leased Real Property” and together with the PropCo Acquired
Leased Real Property, the “Acquired Leased Real Property”), in each case, including any
Leasehold Improvements and all permanent fixtures, improvements and appurtenances thereto;
(g) the Excluded PropCo Real Property;
(h) all tangible assets (including Equipment, computer systems, computer
hardware, supplies furniture, fixtures, machinery and fixed assets) of Sellers, including the tangible
assets of Sellers located at any OpCo Acquired Leased Real Property or OpCo Acquired Owned
Real Property and any tangible assets on order to be delivered to any Seller; provided that if any
such asset is leased by any Seller, the underlying lease for such asset is an OpCo Assigned
Contract;
(i) all demands, allowances, refunds (other than Tax refunds), rebates
(including any vendor or supplier rebates, but excluding Tax rebates), express or implied
guarantees, warranties, representations, covenants, indemnities, rights, claims, counterclaims,
defenses, credits, causes of action, rights of set off, rights of contribution, rights of reimbursement,
rights of recoupment, or other rights of recovery (regardless of whether such rights are currently
exercisable) (in each case, other than against any Seller), including rights under vendors’ and
manufacturers’ warranties, indemnities and guaranties, relating to or arising against suppliers,
vendors, merchants, manufacturers, counterparties to leases, counterparties to licenses and
counterparties to any OpCo Assigned Contract, in each case arising out of or relating to events
occurring on or prior to the OpCo Closing Date;
(j) all of the rights and benefits accruing under all Permits, to the extent
transferable;
(k) to the extent transferable, all current and prior insurance policies of Sellers
or their Subsidiaries that relate to the OpCo Acquired Assets or OpCo Assumed Liabilities, and
all rights and benefits of Sellers or their Subsidiaries of any nature with respect thereto, including
all insurance recoveries thereunder and rights to assert claims with respect to any such insurance
recoveries, but excluding all interests in the Excluded Insurance Policies and any rights to
Case 20-20182 Document 1590-1 Filed in TXSB on 10/20/20 Page 10 of 150
4
4840-1977-2619v.21
insurance recovery required to be paid to Persons other than OpCo Purchaser under any Order of
the Bankruptcy Court relating to debtor-in-possession financing obtained by Sellers;
(l) all rights of Sellers under non-disclosure or confidentiality, non-compete,
or non-solicitation agreements with any Transferred Employee or any current or former employee
of Sellers, current or former directors, consultants, independent contractors and agents of Sellers
or their Subsidiaries or any of their Affiliates or with third parties;
(m) all shares of capital stock or other equity interests of any Subsidiary of any
Seller (other than any Seller) set forth on Schedule 1.1(m) (each, an “Acquired Subsidiary”);
provided that (i) OpCo Purchaser shall have the right to add or remove any entity from Schedule
1.1(m) on or prior to the date that is seven (7) days prior to the OpCo Closing Date (the “Acquired
Subsidiary Designation Date”) and to the extent removed from Schedule 1.1(m) after the date
hereof but on or prior to the Acquired Subsidiary Designation Date, such entity shall not constitute
an Acquired Subsidiary for any purposes hereunder, provided that OpCo Purchaser shall use its
commercially reasonable efforts to notify Sellers of its intent to add or remove any entity from
Schedule 1.1(m) as soon as practicable following the date hereof; (ii) for the purposes of the
representations and warranties in Article III, “Acquired Subsidiaries” shall not include any
Subsidiary added to Schedule 1.1(m) after the date hereof; (iii) (subject to Section 6.1(b)) in the
event any Acquired Subsidiary shall be liquidated or dissolved prior to the OpCo Closing in
accordance with this Agreement, the assets constituting the proceeds of such liquidation or
dissolution (and not the equity interests in respect of such liquidated or dissolved Subsidiary) shall
be OpCo Acquired Assets hereunder; (iv) that any Subsidiaries formed after the date hereof solely
to effectuate the PropCo Sale and that do not have any assets or operations other than to the extent
required to effectuate the PropCo Sale shall not be Acquired Subsidiaries or Acquired Assets; and
(v) any Subsidiary removed from Schedule 1.1(m) shall not be a Seller and its assets and Liabilities
will not be Acquired Assets or Assumed Liabilities, except as provided in Section 6.20;
(n) all assets, including receivables, due from an Acquired Subsidiary as of the
OpCo Closing subject to Section 6.9(b);
(o) the sponsorship of each Seller Plan set forth on Schedule 1.1(o) (each, an
“Acquired Seller Plan”) and all right, title and interest in any assets thereof or relating thereto;
provided that OpCo Purchaser shall have the right to add or remove any Seller Plan from
Schedule 1.1(o) on or prior to the date that is three (3) days prior to the last day of the OpCo
Designation Rights Period (the “Acquired Seller Plan Designation Date”) and to the extent
removed from Schedule 1.1(o) after the date hereof but on or prior to the Acquired Seller Plan
Designation Date, such Seller Plan shall not constitute an Acquired Seller Plan for any purposes
hereunder;
(p) all Intellectual Property owned by Sellers (including the Intellectual
Property set forth on Schedule 3.12), including all (i) rights to collect royalties and proceeds in
connection therewith, (ii) all rights to sue and recover for past, present and future infringements,
misappropriations or other violations of such Intellectual Property against any Persons (regardless
of whether or not such claims and causes of action have been asserted by Sellers) and (iii) rights
to protection of interests in the foregoing under the Laws of all jurisdictions, including all
registrations, renewals, extensions, combinations, divisions, or reissues of, and applications for,
Case 20-20182 Docum
lmao
sorry Rick, It was funny though.
No it was for nose candy so he can stay up reading all the BS in the Doc's.
I'll bet they had to call that trade in by phone. Sometimes they will do this way. It's only $2500 and over paid $200 to paint GREEN. Better up then down. lol
See tomorrow if it holds water. But we can't buy after hours on OTC people keep telling me.
Do you know how much in vol. that was.
Guess we'll see at HIGH NOON tomorrow EST. Good time for hangings; It is Texas?
supposedly Yes, but the writer with the unknown source that is quite close to the situation; didn't leak anything. My crystal ball is out for repairs again.
The deadline by which the Debtors must file a 363(f) motion in connection with a
sale transaction (as described in the Motion to Extend Deadline and the hearing conducted on the
record on October 7, 2020), is hereby extended from October 16, 2020 to October 19, 2020.
2. The deadline by which the Debtors must file initial versions of the Plan and
Disclosure Statement is hereby extended from October 16, 2020 to October 19, 2020.
So if nothing is filed, what are your takes on it.
What else will Sussberg try and pull tomorrow. The system has been played from day 1. When is JJ going to take control of his court room and do the right thing.? What is the point of deadlines if they aren't ever meet? Sussberg can't deliver to the court? Some one please pull the plug, since the ones in control have no control.
It all started with a turd, comment!!
I say, I say ... that boy , that boy needs to slow down. lol
Ut Ohhhh, Now he did it!!
Got some explaining to do young man.
we might be on that old second double top secret extension plan!!!
maybe a late day runner.
Cramer on the malls again today. L Brands yes - The Gap - yes, Victory Secretes - no......
Green today bid .2451 ask .248
Nothing like applying for a patent/trade-mark during a bankruptcy.
Interesting
Interesting
NEW Ad's JCP Mystery Sale 30%,40%,50% off. Watching them all weekend; And JCP.COM
Maybe , Maybe not. JJ I believe doesn't have to rule on Tuesday. He can simply take it to chambers to further review. Unless I missed something Sh1ssberger has not objected to ADE motion. They have 10 days from 10/14.
Still want to know about that Nov. 9th antitrust issue. Keep stirring, use a fork not a spoon. Fork will grab meat, poke it now and then.
Are We There Yet?
Doc 1579
Motion to Remove JC Penny from Bankruptcy Filed by Interested Party Margaret
Quite a letter here, Haven't made tails up or down on it yet.
Motion to Remove JC Penny from Bankruptcy Filed by Interested Party Margaret Deschamps
Was out all day. A lot on the doc's today. Motions and motions.
Get one of those inversion tables. I hang out like a bat all the time with 60 lbs of weight to curl upside down. It's great for my Herniated disk S 1-L 4. Avoiding surgery. The other hernia dislodges my hip. Then we move to my shoulder with torn tendons. God help me. I can't hold a 1 gal. of milk out in my left arm. Insurance . Nov. 2 tG been like this since FJan/Feb. fing Covid and hospitals.
RickNagra link please, slow down
Yes I can, and more. JCP did it not long ago (only weeks ago)