The guys on the EC are smart guys, the law firm representing the EC is recognized as one of the best in restructuring, and UBS is an investment bank. It is most unusual to have something like that together all in one place-tremendous capabilities and knowledge on our side in opposition to the debtors and bondholders plan.
Investment banks don't just loan money, they BROKER DEALS FOLKS! I am sure all this brainpower on the side of the EC knows that isn't going to work for a bankrupt company to exit bankruptcy with more debt than it entered bankruptcy with. UBS has some overhead to cover, and I doubt they are here just for the social experience and networking opportunities.
When the CEMJQ stock price ascended most quickly, there was a lot of talk about dispositions. Now there is a lot of buzz and A/D activity specifically in this sector and with this company in particular. The possibilities and their magnitude are pretty expansive, so consider that....
The only disposition that really materialized was the sale of some PVC assets and shedding some liabilities. After that, the other deals-those with codewords like cloud, etc...just vaporized. The economic impetus for those didn't disappear, but it was the will to do them that apparently did. Maybe it just got real cozy for the debtors in their dealings with the creditors ...who knows what really happened there but it really does not matter.
Those guys are not the only ones who know how the world turns and contrary to what we see in our government where we have the few and proud debating whether to fire or retrain all those cattleguards in Colorado, it just does not work that way in the business world of a free market system. Small groups of small minds do not make and enforce all the rules.
They need remember that there really never is a free ride in life and that they need to do the right thing and manage their business properly or SOMEONE WILL DO IT FOR THEM.
It would not be the first time somebody got obsessed with feeding out a fat hog only to have it slaughtered in front of their eyes and chopped up and parted out right before their eyes.
I know what I own, my hands are strong enough to hold it until I get full value for it. Let the games begin, we are about to be witnesses and participants in what will be some interesting history.
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