Penn Traffic Co. (fka PTFCQ)

[speckulater]

Equity Interests In Debtors Deemed Canceled


Does not look good for the home team.


4. Class 4 – Equity Interests

Classification: Class 4 consists of holders of Equity Interests in the Debtors.

Treatment: Class 4 is impaired and the holders of Equity Interests in Class 4 will not receive any distributions on account of Equity Interests. The Debtors will request that the Court make a finding that the Equity Interests have no value for purposes of the “best interest” test under Bankruptcy Code section 1129(a)(7). On the Effective Date, all Equity Interests in the Debtors shall be deemed canceled. Holders of Equity Interests in Class 4 shall be deemed to have rejected the Plan.

Page 37
http://www.donlinrecano.com/dr201/penn3/Second%20Amended%20Disclosure%20Statement.pdf


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