What is driving this thing so high today (06/18/2015)
Not sure, I think it might be that there is some hope the equity committee will get some value out of the company or new shares in NewCo. The problem is that the filing is so complex with all of the multiple organizations is that it is hard to figure out what is the wroth of the total assets and liabilities are for the entire company plus there is a question of what the company could generate for profit after the reorg is done. I think this confusion is letting some people believe that the common shares might even survive the reorganization with a percentage of new shares.
That is why in my evaluation of the value of the current shares, I had to go with a different method of estimating the value of the reformed company and what 10% of that would be, which shows the common is still trading way too high.
Louis J. Desy Jr.
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