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

[Split T]

You are correct in this instance, however The Ad Hoc Committee still gets it's day in court to depose the DIP representative and put on evidence that Equity is in the Money. The infighting hasn't really began in earnest yet. Hero or Zero, I'm in till the end.


"It was a stalking horse. So they move to a 363 asset auction. That is why the common equity will see nothing. The lenders may get a few more cents on the dollar if they attract a bid...but the fact they had to go 363 at all is not good,

Ask GM shareholders how things went for them. They had a full equity committee and it still went 363 and they got nothing."