ATP Oil & Gas Corp fka ATPAQ

[romang]

what confuses me if the dip lenders bid up to there allowed amount

are the 2nd liens allowed to over bid them and if they did how would they since the dip lenders can only be gotten rid of with cash. and the 2nd liens would be doing a credit bid

unless the 2nd liens come up with around 700 million cash how can they do a credit bid?

even if another bidder bids 1 billion and the 2nd liens bid 1.1 billion how do they pay the dip lenders off? or can the dip lenders accept credit/piece of company? instead of cash