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FORTY-8

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FORTY-8

Re: BCNstocks post# 3760

Monday, 01/26/2015 3:54:56 PM

Monday, January 26, 2015 3:54:56 PM

Post# of 6417
Old Chinese adage regarding the workings of a Chapter 11 Reorganization:

"Common get wiped in nearly all Chapter 11 Reorgs.

Once proud company now have only three chickens left.

First chicken go to secured creditors.

Second chicken left go to bondholders.

Last chicken left go to preferred stock holders.

No chicken left for holders of common.

All common go hungry and then die.

No one care.

Wise man go read-up on "waterfall distribution concept" applicable to Chapter 11."

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