Alpha Natural Resources, Inc.(fka ANRZQ)

[SC777]

Yes agree Matty - I'm interested to hear the judge's ruling tomorrow - cautiously optimistic.

It's pretty disgusting how the US Trustee already appears to be in bed with the Company and the creditors - her arguments are downright embarrassing and just flat out wrong. $3 billion in book value on the balance sheet takes into account fair market value AND depreciation. I don't see how she could possibly argue so vehemently that the Company is hopelessly insolvent - isn't she supposed to be OUR watchdog and have OUR backs? She seems to be supporting an outright theft of $3 billion in equity! And based on what, that the shares are trading at a low PPS? Guess what - Tronox was trading at .01 cent when an equity committee was appointed a few years back - creditors also claimed hopeless insolvency in that case - equity was able to secure $1.50 per share when all was said and done. Same can be said for American Airlinles among countless others - they always argue hopeless insolvency but a blind man can see the equity value here.

This company was NOT and is not hopelessly insolvent - they could have made their freaking debt payments - hell they paid $150m for half of a JV right before they filed BK.

Sick and tired of seeing Lenders just steal companies from equity over and over. Need a good ruling here tomorrow.