Bonanza Creek Energy Inc (BCEI)

[minten]

of course i've read them. but as you write yourself, it's a proposal of the equity committee that will be discussed at next week's hearing, like the proposal ot the note holders (which mind you, everybody else involved in this case is unanimously behind).

in an overwhelming majority of these kinds of cases, proposals by equity committee's are ignored, and proposals by note holders are accepted. that's also as it should be as note holders claim is senior.

to make matters worse, the equity holder's case is poorly written, and bcei recently published atrocious earnings. my guess is you have about, what is it, a 5% shot there's a judge next week that has no clue. but normally it's pretty clear what will happen.

it's pretty clear what the strategy was here: delay delay delay and hope that oil recovers. well, we're a few days from the hearing and oil hasn't recovered.