Luminent Mtg Cap Inc (fka LUMC)

[leebret]

Good Luck, this is what you are faced with before common shareholders would be in line.

Arco; secured creditor,

Other financial institutions (loans) etc.

Senior note holders

Junior note holders

All other secured and non-secured financing.

They have no equity, in fact they have a huge negative equity position. If there assets were even close to liabilities shareholders may have some chance of recourse in the new formation. I have given my honest assessment all along the way and this post is no different. I see no hope for common shareholders.

Even if they should get representation in bankruptcy court I give them no chance of receiving any value or piece of the post bankruptcy corporation. I don't blame anyone for trying and hoping for a positive outcome though.