Was skimming through the Harbin Pharmaceutical Group sale document approved by the court a few days ago. I found item Y, on page 14, particularly interesting:
"Y. The Sale does not constitute a de facto plan of reorganization or liquidation or an element of such a plan for the Debtors, as it does not and does not propose to: (i) impair or restructure existing debt of, or equity interests in, the Debtors; (ii) impair or circumvent voting rights with respect to any future plan proposed by the Debtors; (iii) circumvent chapter 11 plan safeguards, such as those set forth in sections 1125 and 1129 of the Bankruptcy Code; or (iv) classify claims or equity interests, compromise controversies, or extend debt maturities."
If the sale to Harbin Pharmaceutical Group does not impair or restructure the equity interests in GNC, does that imply that GNC equity interests (i.e. common stock) survive the sale?
GNCIQ