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Enterprising Investor

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Re: seismic post# 404

Thursday, 05/09/2013 10:52:57 PM

Thursday, May 09, 2013 10:52:57 PM

Post# of 588
The trustee represents the interests of 2nd Lien Bondholders.

The trust company is responsible for hiring legal counsel and paying the bills. The issuer is responsible for reimbursement.

Certain holders formed an Ad Hoc group. Normally, the goal of such a group is consensus building when working with other stakeholders in developing a reorganization plan. This is important because secured creditors are not members of the OCC.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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