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

[TenKay]

“what can be done for shareholders and any bondholders who opt out of release?“

Per the a court hearing Tuesday, there will no longer be a release for shareholders. This was the essence of the discussion/objection of the AHEC. As Okin correctly observed, how can there be a release when there is no consideration for waiving rights? Jones agreed as long as he would be the gatekeeper for any claims made. He also wanted to make sure that it ONLY applies to direct claims (and not derivative claims) from individual shareholders.

That last piece will likely mean there will be little if any claims made simply by virtue of the fact that individuals would need to hire their own attorney to file the claim.