Scottish Re Group Ltd (fka SKRRF)

[bwana12]

The hierarchy of the preferred is the same it has always been. It is just that the accountants have a strange way of presenting things. I believe a bunch of people have been led to err.

If the company were buying back preferreds, I believe it would do so through privately-negotiated transactions and/or a tender. There is very little volume in the open market, any sizeable chunk can change the market price in no time. I am a bit dissapointed that management has not provided more updates on relevant events, but as far as the company's business is concerned I see not big vhanges UNLESS there is a restructuring of the equity base and a recap/merger. I still do not believe MM / CC will just sit and wait, and the purchase of the Orkney notes is probably is a step in the right direction.