This is a strategic investment as you must have figured out. It is not a stock. It needs time to play out.
It's currently in the twilight zone of the investing world...a defaulted bond with no ratings and a company in Bankruptcy court. There are limited market participants in this realm...
Think about it. Bund funds can't buy a bond with no ratings that is going to become the equity in the new company. Stock funds can't buy a bond.
Only distressed investors are even looking at this now. It is in market purgatory.
"THE VOTING DEADLINE TO ACCEPT OR REJECT THE PLAN OF REORGANIZATION IS 5:00 P.M. PREVAILING EASTERN TIME ON AUGUST 23, 2016 UNLESS EXTENDED BY THE DEBTORS, WITH THE CONSENT OF THE REQUIRED CONSENTING CREDITORS (AS DEFINED BELOW) (THE “VOTING DEADLINE”). THE RECORD DATE FOR DETERMINING WHETHER A HOLDER OF AN IMPAIRED CLAIM IS ENTITLED TO VOTE ON THE PLAN IS JULY 21, 2016 (THE “VOTING RECORD DATE”).
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