Sunedison Inc. (fka SUNEQ)

[hokieal]

Looking at Docket 821 now (Schedule of Assets and Liabilities) and it is laughable in my opinion. On page 15 (of 86) they show Summary of Assets (Real and Personal Property) as $120 million vs. Liabilities of $4.5 billion.

But when you dig into the assets it has 10 pages of patents with unknown book value. And on page 28 it has ownership interest in 21 different entities with completely unknown value (and sometimes unknown ownership % which is mind blowing how they don't know that). In fact, the word "unknown" comes up 2251 times in this document.

Then we have these wonderful statements from both dockets:

The Schedules and Statements and these Global Notes should not be relied upon by any persons for information relating to current or future financial conditions, events or performance of any of the Debtors.

Reservation of Rights. The Debtors’ Chapter 11 Cases are large and complex... Because the Schedules and Statements contain unaudited information, which is subject to further review, verification, and potential adjustment, there can be no assurance that these Schedules and Statements are accurate and/or complete.

Unlike the consolidated financial statements, the Schedules and Statements generally reflect the assets and liabilities of each Debtor on a nonconsolidated basis. Accordingly, the amounts listed in the Schedules and Statements will likely differ, at times materially, from the consolidated financial reports prepared historically by SUNE for public reporting purposes or otherwise.

My biased opinion, these "schedules and statements" make it more likely that an Equity Committee will be approved because this information is so incomplete as to be worthless when it comes to valuing their assets.