Chapter 7 seems highly unlikely with the support (and contracts) they have in place.
This may not follow the typical Q pattern in as much as they had a lot of the details worked out in advance and had hoped to reorganize without going through the court process.
My guess, is the secured debt holders will try to shave as much of the non secured debt down without taking too much of hit themselves.
My earlier .11 or .12 cents was based upon a more normal sequence of events. May still come down that way though, but I wouldn't be surprised if it doesn't fall quite that far. GL w.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.