c1k, you wrote:
"Part of the POR is really a request by the company to ask for forgiveness of some debt and how its going to pay remaining debt. Of course, whats most important to all of us, is that a POR will also state what the plan is for common shares."
the reason that general growth stock was able to soar was the fact that ggp's stated intent is to make all debt holders (secured as well as unsecured) whole. with secured debt restructured and unsecured debt paid in full, that is what leaves common stockholders somewhat in the drivers seat regarding approval of ggp's por when it gets filed and then goes through the approval process.
ggp is not scheduled to file its por until july 15th, some 15 months after its bk filing.
i would fear that if mag were to ask for debt forgiveness that would be very bad for common stockholders since debt stands in line ahead of equity.
if by debt forgiveness you just mean the ability to reject leases, then i would agree. however, it you mean secured as well as unsecured debt, then i think common would get slaughtered.
no matter, there will be plenty of time between now and a por filing to ride this stock.
regards, a mostly lurking, but long mesaq holder
