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

[TraderAI]

COTRP $25 bond in court docket share recovery price. Docket just released in JCP bankruptcy

COTRP is a Third Party Corporate Backed $25 JCP Bond by US Bank, and is represented by the Unsecured Credit Committee which is Class 7 which includes voting rights.

Link: https://cases.primeclerk.com/jcpenney/Home-DownloadPDF?id1=MTczOTk0NA==&id2=0

Class 7 - Unsecured Notes Claims

(a) Classification: Class 7 consists of all Unsecured Notes Claims against any
Debtor.

(b) Allowance: The Unsecured Notes Claims shall be deemed Allowed in the amount of $1,346,360,131.29.

(c) Treatment: Except to the extent that a Holder of an Allowed Unsecured Notes Claim agrees to less favorable treatment, on the Effective Date, in full and final satisfaction, compromise, settlement, and release of and in exchange for such Allowed Unsecured Notes Claim, each Holder of an Unsecured Notes Claim shall receive, up to the full amount of such Holder’s Allowed Unsecured Notes Claim, its Pro Rata share of any portion of the $750,000 of Cash distributed to the Unsecured Notes Trustees on the Effective Date remaining after the application of such Cash to the indemnification claims of the Unsecured Notes Trustee pursuant to the Unsecured Notes Indentures, plus its Pro Rata share (taken together with the Second Lien Notes Claims and General Unsecured Claims) of any Cash remaining in the Wind-Down Reserve once all Allowed Claims entitled to payment therefrom have been satisfied, no Disputed Claims that may be entitled to payment from such sources remain to be adjudicated, and all First Lien Claims have been satisfied in full, plus its Pro Rata share (taken together with the Second Lien Notes Claims, and General Unsecured Claims) of the Unsecured Claims Earnout Pool.

d) Voting: Class 7 is Impaired under the Plan. Therefore, holders of Unsecured Notes Claims are entitled to vote to accept or reject the Plan.