Replies to post #5006 on Hycroft Mining Holding Corp (HYMC)

[romang]

Thanks for the reply, That' what a cramdown is for if people dont accept plan.

[kabanch]

Liquidate the POS fine with me.

[Stockminder]

Under section 1126(c) of the Bankruptcy Code, an entire class of claims is deemed to accept a plan if the plan is accepted by creditors that hold at least two-thirds in amount and more than one-half in number of the allowed claims in the class. Under section 1129(a)(10), if there are impaired classes of claims, the court cannot confirm a plan unless it has been accepted by at least one class of non-insiders who hold impaired claims (i.e., claims that are not going to be paid completely or in which some legal, equitable, or contractual right is altered). Moreover, under section 1126(f), holders of unimpaired claims are deemed to have accepted the plan.
https://www.law.cornell.edu/uscode/text/11/1129

While I agree with you that if a majority of a given class votes in favor of the plan, than all in the class are deemed to approve the plan and are treated the same in terms of recovery. I don't believe that if you opt to NOT grant a release, you are automatically deem as granting it if the plan is confirmed. If you have a link to documents that say otherwise, please post it.

I have to read to make absolutely sure, but usually the common shares are all in one class, so however the majority votes, that is what they all get and how they are treated. i.e. If the majority vote to accept but you vote to reject, you 'accept' as part of the class.

So if a majority votes to accept the plan in that class, then they all released also.

My understanding is that even if the common all vote to reject the plan, but the higher classes vote to accept the plan, then the plan will be accepted anyways.

With the way things are, I am not sure what people think they are doing if they refuse to accept the plan. The longer this goes on, the less the company will have. Once the cash falls below $25 million in cash required in the POR to put it into effect, the POR will have to be redone or even canceled. At that point, I expect the company will end up liquidated since if the company has to sell off more assets to fund the POR, there will not be much of anything left to operate in NewCo.

Louis J. Desy Jr.

[Olti100]

Lets make a bet that this PO$$ isnt going to fly.I just say that this isnt going to get aproved unless there is no consent that the share holders get Shares istead of warants add here that the releases arent to be give free for those who created this mess.Not till they do not pay or go to jail.Youhave to pay for your wrong doings unless welcome to Jail.