ATP Oil & Gas Pref Shares fka ATPGQ

[56Chevy]

As it stands today if they had to convert to chapter 7. wouldnt that bring alot of value to the bondholders

Naturally that strickly depends on who the Bondholder is and what the price was they paid to get in this. If, for example, a person is holding original issue bonds..I'd be very nervous you could fully recover thru a Ch 7 liquidation ... but for those who paid a considerable discount ($25 or under) I think your chances of making a good roi are very high.

In any kind of scenerio the DIP lenders have super- priority. Meaning - no matter what - they get 100% of their agreed amounts for lending back. They get every dime entitled to them even if that means they have to sell the CEO's desk & chair to get it.

Sorry Preferred shareholders...I think you're way outside looking in under any CH 7 scenerio.