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Re: LouisDesyjr post# 1658

Sunday, 08/23/2015 1:05:18 AM

Sunday, August 23, 2015 1:05:18 AM

Post# of 1755
louis u r right but what i see is that...1st tear bond holders are taken care of..... all the existing bonds have been replaced by placing new bonds at closing by white marlin and trimont.....2nd tear secured creditors have been paid through by the new companies by assuming debt as part of the liability exchange during the auction sale process.....third tear taxes were also partially part of the exchange to bring the cure amounts upto date and the remainder to be paid from(19 mil) the bk exit plan...which may not exceed over 2 mil max imo.....4th tear unsecured creditors(total 17 mil) which are being negotiated partly to be paid from the left over from the 19 mil....bk exit plan and the remainder from 50 mil lawsuite that the judge has allowed....happening after dune exits bk.....5th tear preferred share holders which i dont see any in dune....and lastly 6th tear common share holders ....waiting till after the bk exit to be paid from the 50 mil lawsuite that the judge has allowed 25 mil from d&o insurance bought by dune by 5 different companies of 5 mil each....and the remainder 25 mil....to be paid back by the dune directors and officers taken as bonuses.....louis i need your opinion as to what am i missing here....it seems v clear that commons in dune seems to be in pretty good shape and thats the reason why we see all of the institutions intact throughout......imo the commons here will not only survive... but may walk with some positive value after all is said and done.....gl

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