Republic Airways Holdings Inc fka RJETQ

[indymx]

The POR stating plainly that common shares will be cancelled is misleading how?


Classification: Class 5 contains all Interests in RAH, which include any equity security of RAH and any warrants, options, convertible securities, liquidating preferred securities, or contractual rights to purchase or acquire any such equity interests at any time and all rights arising with respect thereto. Translation: shareholders, anyone with warrants, options etc. Treatment: Pursuant to the Plan, on the Effective Date, all Interests in RAH shall be deemed cancelled and extinguished and the holders of such Interests shall not receive or retain any property on account thereof. Translation: all your shares are now cancelled and, by proxy, completely worthless. Impairment and Voting: Class 5 is impaired by the Plan. Pursuant to section 1126(g) of the Bankruptcy Code, Class 5 is deemed to reject the Plan and the holders of Interests in Class 5 are not entitled to vote. Translation: we know this wouldn’t and doesn’t make you happy, so we didn’t let you vote on the matter.