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Re: hang ten post# 5148

Friday, 08/27/2010 5:56:36 AM

Friday, August 27, 2010 5:56:36 AM

Post# of 15495
just a little bit more insight into that last paragraph, we've already established that we need a large shareholder/s ie Mr Big on our side, so this is interesting:

(2) the shareholders and creditors of the old corporation own at least 50% of the total voting power and value of the stock of the corporation after the ownership change as a result of being shareholders and creditors before the change."

so in a bk, even after 'old and cold' creditors have been awarded equity, the shareholders and creditors of the old Corus Bankshares must own 50% votes and value of the stock after the ownership change. So Mr Big would have needed to be in CORS before bk, imo.

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