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Post# of 797397
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Re: Rodney5 post# 756492

Thursday, 06/01/2023 5:46:14 PM

Thursday, June 01, 2023 5:46:14 PM

Post# of 797397
It's not about trust, the JPS holders can simply not accept the conversion if its unfavorable. This is the only way JPS holders would be ok voluntarily accepting a conversion (which requires 2/3 of each series to agree). Or UST can go ahead and proceed w/o JPS holders and leave us in the capital structure as senior but Calabria claimed that was not acceptable to UST as they were not on board with that.

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