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1manband

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1manband

Re: jahbvc post# 783

Wednesday, 10/19/2016 7:44:39 PM

Wednesday, October 19, 2016 7:44:39 PM

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what if it does not pass? then what?



It doesn't matter. Some Plan will pass, but there will never be any money left for common shareholders. It just won't happen.

The reason the first Plan didn't pass was that the creditors, who are only being paid pennies for each dollar they are owed, demanded more. So in the new Plan, they will get some new equity to help ease the pain of their massive losses. But that has no effect on the old common shareholders. They get nothing either way.
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