Correct...that is the reality. EXXIQ is DOA. Sorry guys.
Taken from the Disclosure Statement Doc #502 page 44
15. Class 15: EXXI Interests
(a) Classification: Class 15 consists of all EXXI Interests. (EXXI Interest means the common stock)
(b) Treatment: On the Effective Date, or as soon thereafter as reasonably practicable, all EXXI Interests will be extinguished in accordance with the Description of the Transaction Steps and the holders of EXXI Interests shall not receive or retain any distribution, property, or other value on account of their EXXI Interests.
(c) Voting: Class 15 is Impaired under the Plan. Each holder of an EXXI Interest will be conclusively deemed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, each holder of an EXXI Interests will not be entitled to vote to accept or reject the Plan
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Marker: Energy Xxi Ltd. (PC) (EXXIQ) $0.1195 up 0.0215 (21.94%) Volume: 7,212,674
What ever disunites man from God, also disunitesman from man. ~~Edmund Burke
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