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

[TenKay]

“The wording of the approved reorg plan says I shall receive up to the full amount of unsecured notes claim, its pro rata .. etc etc. unless I choose a less favorable pay-out arrangement.

What does that mean exactly?“

That is boiler plate language that basically says you can’t get more than the unimpaired value of the notes under any circumstances. However that language will never be operative because the MAXIMUM value the notes will get under the POR is a little less than 1 cent on the dollar with only 0.05 cents on the dollar guaranteed.