AICI Capital Trust 9% Pfd (fka AICPQ)

[Enterprising Investor]

AIC (Sub) will be exiting rehabilitation shorty.

There is a tax sharing agreement in place between AIC and AICI (Debtor).

The Trustee has been paying AICI creditors over time.

The good news.

Claim 67 as filed by Deutsche Bank Trust Company Americas now represents the only valid, general unsecured creditor claim.

And now, the even better news.

The Trustee said that AIC will soon be making a $1.85 million distribution to AICI. A second distribution in the amount of $2 million will be made in Q1 2020. Plus, it is projected that another $5 million will come the estate's way upon the sale of AIC. Add all up, and the result could be $8.85 million.

These figures as gross. The Trustee is due a commission for his work. There will also be some expenses.

Deutsche Bank will receive the net distributions from the estate and will eventually make distributions to AICIPQ holders. The key word is "holders". Needless to say, those who filed timely claims in both the Chapter 11 and Chapter 7 case but later sold will lose out.

There are 3,795,000 shares of AICPQ.