Tuesday, December 18, 2018 3:43:22 PM
"During any deferral period, neither Holdings or any of its subsidiaries will be permitted to:
• pay a dividend or make any other payment or distribution on Holdings' capital stock;
• redeem, purchase or make a liquidation payment on any of Holdings' capital stock;
• make an interest, principal or premium payment, or repay, repurchase or redeem, any of Holdings'(S-13) debt securities that rank equal with or junior to the subordinated debentures; or
• make any guarantee payment with respect to any guarantee by Holdings of debt securities of any of its subsidiaries, if the guarantee ranks equal to or junior to the subordinated debentures."
The junior, subordinated debentures assets of the CTs are an LBHI claim, likely a Subordinated Class 10A claim, Class 4B Senior Affiliate Guarantee or Class 5 Senior 3rd Party Guarantee Claim. One of either of them.
No distributions have been made to Class 10A but they don't identify guarantee claims.
Class 4B has received 35% & Class 5 has received 28% approximately but it isn't clear if the distributions are to any subordinated claims.
Does anyone know for a fact the Class of the subordinated debentures with guarantees claims class?
In terms of the UK subsidiary ECAPS or payments to non-debtor LBT note holders, it seems the LEHNQ prospectus restricts these payments ". . . if the guarantee ran equal to or junior to the subordinated debentures".
And, if they are non-guarantee claims, how can they be anything but junior to the subordinated debentures with guarantee?
Are we now looking at a special event? An "Investment Company"?
If the subordinated debentures are either Class 4B or 5, haven't they been paid distributions in some restricted funds account already?
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM