Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[Large Green]

JCPNQ Shares Golden or NOT - Another Point of View

zz2 days ago

Don't let anyone tell you these shares are worthless. There are bids coming - which might very well be for the whole ball of wax, not just piecemeal.

We will know if there is a whole bid before the auction that is scheduled to take place. This was hinted at by the Kirland lawyer at the hearing. "red zone". "baited breath". Lawyers don't talk like this about going into a partial auction for leases.

Moreover, even if there is an auction, expect the first tier lenders to be satisfied with plenty - I mean plenty of gas left in the tank.

I've owned Chapter 11s that emerged WHOLE - and PARTIAL - and seen NOTHING also - but this won't be nothing.

Right now if I had to be negative, my negative would be that existing shares would own 10-15% of NewCo. That's being NEGATIVE. $3B *10 percent is 300 million worst-case scenario which is .90c/share. MINIMUM.