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Re: cottonisking post# 12315

Wednesday, 08/08/2012 12:48:35 PM

Wednesday, August 08, 2012 12:48:35 PM

Post# of 111144
You said: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78296264

CT subordinate bonds are in the one common share trust escrow account. Man when I heard and verified that news, I jumped out of this 747 back in Europe. We needed the debt to equity connection in this American BK.



Jshuey's reply to your post: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78302358

CTs are most definitely NOT in "the one big share". Only common and preferred stock. Please note the references to classes not in the one big share. From the bankruptcy admnistrator:



Your rebuttal to Jshuey: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78305472

This bond has equity interest in the LBHI Plan Trust :
EXCHANGE INTO 524ESC7M6
Look thru the dockets for claims reclassified as equity.



The sub bond is debt. It is not equity, nor has it been classified or reclassified as equity. You are wrong.

Someone shows you are wrong and you won't admit it.

Now you change your story and say "subordinate bonds and 1 common share are part of the LBHI Plan Trust that is a holding pool for equity securities, that are the last in line to get paid, equity - class 12"

That is wrong as well. See below:

STOCK CANCELLATION/SENIOR NOTES FAQS:

10) I was a Stockholder prior to the filing, what will happen to my stock?

On the Effective Date, the LBHI common and preferred stock were cancelled and one new share of LBHI common stock was issued to the LBHI Plan Trust which will hold such share for the benefit of the former holders of LBHI common and preferred stock consistent with their former relative priority and economic entitlements. The beneficial interests in the LBHI Plan Trust held by former LBHI stockholders are uncertificated, non-voting, and nontransferable other than by will or by the laws of descent and distribution. The Plan states that in the event that all Allowed Claims in LBHI Classes 1 through 11 have been satisfied in full in accordance with the Bankruptcy Code and the Plan, each holder of an Equity Interest in LBHI may receive its share of any remaining assets of LBHI consistent with all rights and priorities existing immediately prior to the commencement of the Chapter 11 cases. At this time it is not anticipated that any distribution will be made to the LBHI Plan Trust or to any beneficiary of the LBHI Plan Trust.



So with your (old argument and) new argument, you are still wrong.

sub debt is Class 10. commons and prefferds stock of LBHI are Class 12.

The above states: "Plan states that in the event that all Allowed Claims in LBHI Classes 1 through 11 have been satisfied in full in accordance with the Bankruptcy Code and the Plan, each holder of an Equity Interest in LBHI"




So, Sub debt, Class 10, is NOT on the LBHI Plan Trust which consists of ONLY Class 12. So, you are still wrong.

Good day.

imo