JC Penney Corts Tr Debentures (COTRP)

[MasterBlastr]

Lets say you were a wholesaler that never got paid for your merchandise before JCPenney filed for bankruptcy. You would file a claim for what you didn't get paid. Or if you were a mall owner that didn't get the rent from JCPenney. You file a claim with the bankruptcy court, who decides what, or what portion would be paid out of available funds. We here at COTRP, own unsecured debt - JCPenney borrowed money from us. We own the debt. We don't have to file a claim for it. Bondholders, unsecured or otherwise do not have to file claims. I owned 3 different classes of debt at Washington Mutual, bought after they filed bankruptcy, and got paid (less than face but expect to be paid more, over time). Never filed a claim as I held the debt securities. Thats the best way I can explain it.