Dynegy Administrative Claim is a "settlement currency".
The DAC "is not a distribution to shareholders on acount of their equity, a distribution of based on enterprise value or a distribution under the plan".
It is paid by the DH estate to the DI estate in order to settle any holdup value that DI would have in prosecuting potential claims and causes of action againts DI in connection with pre-petition restructurings.
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.