Replies to post #18295 on Sunedison Inc. (fka SUNEQ)

[Stock_Gambit]

Very nice reference! This is a gold mine!

Unlike most Chapter 11 bankruptcies, existing General Growth stockholders were not wiped out upon the company's exit from bankruptcy

[Stock_Gambit]

This sounds pretty familiar to what is going on with SUNE!

According to its bankruptcy filing, GGP had about $29.6 billion in assets (SUNE has $20.7B) at the end of 2008, and $27.3 billion in debt (SUNE has $16.1B). GGP suspended its dividend, halted or slowed nearly all development projects (SUNE hasn't slowed nor halted any projects) and cut its work force by more than 20% (SUNE hasn't reduced work force). GGP also sold some of its non-mall assets (SUNE will most likely sell some assets). Chief Executive Adam Metz said "While we have worked tirelessly in the past several months to address our maturing debts, the collapse of the credit markets has made it impossible for us to refinance maturing debt outside of Chapter 11."[15] GGP obtained $375 million (SUNE $300M) in debtor-in-possession financing. [16] Mall gift cards remained usable.[17]

[johnydollar]

That's exactly what is expected here to sum it up,smart money will proclaim victory.imo