Endeavour International Corp (ENDRQ)

[boscola42]

Ok it took me almost 2 hours to read the 8k. There are 4 large groups that the company owes the most money to. These 4 large groups have shares/bonds, they are called noteholders, which means they were supposed to be paid by the company for the loans they gave them in stocks/bonds, etc, by a certain date. The company is filing chap. 11 which means that these companies they owe money too in stocks and bonds will be cancelled but will be reissued according to chap. 11 laws. They will get a lot of their money owed to them but not all. They will still make out well because they are receiving a high interest reate back and a dividend also on top of the new shares/bonds. In the bankrupcy recrustruction amendment, no company owed money is aloud to sue Endeavor. Don't forget these new shares and bonds will have a maturity date on them also so its in the best interest of these companies to agree with the court so they can get most of their money back. There is a lot more to it then what i'm telling you but its too much info to explain. The 3 endeavor entities will be merging into one corporation also which will help them to reduce major taxes and grow again into a successful company.