Verso Paper Corp. (fka VRSZQ)

[Waychoff]

Yes the motion was passed this was a request upon the court the 1st day of hearings and we're approved. S&P has issued 350 MM worth of DIP loans and Cits Bank has been authorizes to administer the funds as needed. Also just read an article where shorters approved are now starting to stay away from VERSO out of fear of it running when volume returns. Some companies file chapter 11 to get rid of their debt and close the doors, other do so with the intent of moving forward with a better business plan after obsolving themselves of debt. These companies are usually very ripe for buyouts once they are somewhat back on there feet. Look as smurfit stone from 2010 for example BK restructured debt then multi billion dollar buyout. Either way VERSO is extremely undervalued short and long term.