JCPNQ ADDING 3.2K JOBS.COTRP BOND HOLDERS GOOD NEWS!
COTRP BOND HOLDERS SEE BOOST 3.2K JCP ADDING JOBS!
COTRP TRADING UNDER $1 HAS A FACE VALUE OF $25
Board link: https://investorshub.advfn.com/J-C-Penney-Corporation-Inc-JCPNQ-6271/ COTRP IS A 3RD PARTY CORPORATE BACKED BOND FOR JC PENNEY OWNED BY US BANK. IT HAS AN O/S 4M AVAILABLE SHARES.
COTRP MAY VERY WELL RECOVER BACK TO $25 PER SHARE AND IT CURRENTLY HAS A SETTLEMENT AGREEMENT WITH THE JCP DEBTOR AND IT MUST BE UPDATED TO BE PAID IN FULL!
JCP has the funds to pay over 3,200 new jobs costing the over $100,000,000 if they retain all positions for at least a year
while in bankruptcy.
Sale valuations of JCP, which included all assets were done before the holiday season, Cyber Monday, Black Friday, Thanksgiving, Christmas shopping and more.
Come January 1st, 2021, JC Penney will be worth much more than currently valued as the company has performed well enough for a decent debt to asset ratio value, has continued to operate without interruption since filing for bankruptcy on 5/15, has generated more income than expected and is on a hiring spree.
Why is this company in bankruptcy? It must be stopped and delayed and a new valuation must be filed with the courts after 12/31/2020. The new valuation for JCP will be significantly higher, replacing the older and lower number that will create a higher flow of cash into impaired classes.
JC Penney is wiping out over 3.5 billion in retiree pension using its current bankruptcy Plan of Organization and has 3.6B in benefit liabilities.
The US Government has now initiated and started the official JC Penney Pension Bailout plan to cover retirees up to 92% if eligible.
Even with the United States Pension Benefit Guaranty Corporation, retirees still lose 8% a month.
This is a recent development and added to the PBGC recently. These numbers conflict with JC Penney’s proposed pension action.
More information about all of this can be found at: https://JCPholders.com