It looks bad - Document #462
cases.primeclerk.com/duneenergy/DownLoad-DownloadPDF?id1=MTc2Nzk5&id2=0&id3=0
"4.9 Treatment of Allowed Equity Interests (Class - 6).
On the Effective Date, the Equity Interests in the Debtors shall be canceled and extinguished, and the holders thereof shall not be entitled to receive any Distributions on account of such Equity Interests."
They are proposing to wipe out the existing common shares and give them nothing in the plan.
A few other classes higher than them are taking large losses also.
If this goes through, the situation for the common shares looks bad. Based upon this POR, I expect the stock will be canceled and stop trading within a matter of several months once the plan is put into effect.
Louis J. Desy Jr.
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