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44centsAKAchoccake

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44centsAKAchoccake

Re: Ekymoney post# 333

Sunday, 07/06/2014 2:52:57 PM

Sunday, July 06, 2014 2:52:57 PM

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I don't think so. That being said the law says "just and equitable" not "absolute priority rule." In other words, absolute priority is a "tendency" not a "rule" especially where the senior creditors "volunteer" to agree to a settlement that violates the "absolute priority rule." I could see the commoners getting a few shares in the successor company or something like that. Coal's prospects could look better in 2016 or 2017 depending on where natural gas prices go.
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