Tronox Inc. (TROX)

[Madclown]

I have to say that i'm impressed that they pulled off getting it filed timely. It was coming down to the wire but it got filed by the deadline. As always, there is still a big battle to be waged to get all parties to agree to it but we still have a pulse and that is all we can ask for right now at this stage of the game.

One thing to remember is that in Judge Gropper, we have a Judge that favors consensual negotiation. If it is determined that the EC plan funding is attainable and that the valuations contained therein are reasonable, or at least close, then we have a good shot of achieving a meaningful recovery. With respect to the enterprise value and recovery prospects for equity, perhaps the truth of the matter and the point at which an agreement can be struck lies somewhere in the middle of the two competing plans.