ATPG Senior 11.875% 2nd Lien Bonds (fka ATPG.GE)

[56Chevy]

I think what the Judge is looking for is a "POL" Plan of Liquidation as opposed to a "POR" Plan of Reorganization because there isn't anything left to "reorganize". Therefore any dreams of stocks being issued are just that - dreams.

The sale transaction was, in effect, a sub rosa plan that effectively bypassed the Bankruptcy Code’s important disclosure and voting requirements.

The Sale, if approved, leaves very little to liquidate. I don't know what it would cost to reverse the shut-in wells at Gomez but I'm guessing it's may be alot more than anyone is willing to put up.

The sale hasn't been blessed yet so we don't know what will remain if anything.

I expect a POL.