InvestorsHub Logo
Followers 203
Posts 13784
Boards Moderated 3
Alias Born 10/26/2008

Re: None

Sunday, 09/13/2020 6:04:24 PM

Sunday, September 13, 2020 6:04:24 PM

Post# of 43522
A HUGE POTENTIAL TWIST-Strictly My Thoughts Based on What I Think I have Learned About JCPQN BK Case

1) July 27, 2020 There was a Leak to NY Post concerning a buyout by SPG for 1.7B with no further details

2) Almost two months go by with Sussberg making many, many excuses but no deal


3) I believe the leaked bid of 1.75B was for the entire JCPNQ Enterprise including all debt and equity which would be about $5.45 per share

4) However, this bid threw a huge conundrum into the Executives, Debtors, and Lender's plan. This would prevent the cancellation of equity keeping these people from legally stealing billions of dollars via NewCo JCP shares that are planned to be offered to the aforementioned people on a successful bk reorganization signed by the court

5) So, Sussberg tells the court that this leaked bid was not even remotely correct and had no truth to it but Sussberg felt it had to be addressed however this SPURNED SPG by the court not officially acknowledging

6) Again, almost two months go by before Sussberg says he has a deal so a much hurried Status Conference call to the court was made to advise Sussberg has an LOI agreement signed by SPG, Debtors, Lenders, and Brookfield for purchase using OpCo/PropCo plan, an 8K filing happened the next day showing the plan and further, another 8K filing would be made showing the LOI has merged into an 8K filing that would follow within several days. They are allowed 4 business days to file which would expire on 9/15/2020

7) There has been no mention of any other entity being part of this agreement period...UNTIL Saturday 9/12/2020 when Authentic Brands name is mentioned (Leaked or Not?)

8) Remember an (LOI) is a Letter of Interest which is totally non-binding unless followed up with an 8K filing signed by the Players

9) It is my view, SPG was spurned and their bid for the JCPNQ Enterprise was buried in the dark rooms of the courtroom as this did not fit the agenda of the Debtors, Executive, Lenders, so Sussberg deemed the offer had been to low but funny the offer accepted in LOI was for exact same amount of 1.75B

10) So, on Saturday morning (9/12/2020) we now hear Authentic Brands is now involved with SPG...hmm...how could this have NOT been known before...in my view it was known before BUT only by David Simon

11) I now believe SPG will never sign the 8K with Sussberg, the Debtors and Lenders because SPG bid before was sabotaged

12) This will totally throw Sussberg off as now he has no deal
UNTIL

***only happens if my conjecture proves to be correct***

13) Sussberg is forced to announce between 9/13/2020 and 9/15/2020 SPG's bid for 1.75B or $5.45 per share for each of the 321M outstanding common shares taking all debt and equity in its entirety


13) Also, remember about 3 to 4 weeks ago JCPNQ Executives hired a specialty LIABILITY Law Firm...why would ANYBODY do this if not concerned about their actions

14) This is strictly conjecture on part based on what I think I have learned








Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.