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

[hgabreal]

Total assets at $2,966,877,213?? Also, the net income seems positive "enough" to pay off the DIP lenders however long it takes. Approving the sale is allowing the DIP guys to steal the company.

I think the judge is going to strike down the sale and not let the DIP guys steal this when there might be a REAL chance that 2nd liens and below might also get paid. Why?

Reorganization is the only fair option with the DIP guys eventually getting what they want and the 2nd lien holders getting what they want (don't know about the preferred and commons). Not to mention the NOL and BP lawsuit settlement (however little it might be)

Something is very fishy. A reorganization has not been attempted and the company is in chapter 11?. Is this even lawful? Think of the multiple class action lawsuits by the equity and bond holders.

I thought reorganization was a priority before liquidation...