Alpha Natural Resources, Inc.(fka ANRZQ)

[MattySR]

Great post SC, i'm telling you riight now, there is a corruption in the bankruptcy system and its that of the senior secured lenders. Citibank...

Don't you think its funny how the top of the food chain citibank objected to an equity committee? It goes against their interests if an equity committee is formed. Makes it harder to steal the company.

they could have made their freaking debt payments

for a year at least also...Debt starts to mature in a few years

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

For the sake of the system, yes. And of course ANR holders.

CRAZY how the Trustee (And the other objectors) could even BEGIN to shoot down an equity commitee beacuse ANR securities are at a discount right now. that. IS. INSANITY.

The only reason ANR is trading so low is because the public is AFRAID of the bankruptcy system due to the corrupt system in place ( senior secured lenders stealing bankrupt companies ) NOT that there is no value left. in fact at this time I believe there is plenty value (I am not saying this could erode, or even be higher in the future. im talking now)

Another one of my favorite lines from that reply of the shareholders.

Moreover, the Form 10- Q discloses that on June 30, 2015 the Debtors borrowed an additional $445 million under the Citicorp loan facility. Id. at 12, 44. Either, the Debtors were solvent when management determined to cause them to take on half a billion in new debt within a month of undertaking bankruptcy filings en masse, or if the Debtors and Citibank are correct that the Debtors were hopelessly insolvent, then a potentially valuable derivative claim exists.

Management touted this bankruptcy as "pro-active." which it WAS. does not mean they were insolvent, on the contrary it leans towards solvency as it was "pro-active.