Replies to post #2556 on ATP Oil & Gas Corp fka ATPAQ

[OHMYGOD]

Words are cheap, I am willing to listen to the trustee simply because it sounds like he has been working his assistant off for us. I was not aware that there was a settlement with BP. What are the payments he refers to?

Best,

OMG

[RealRaynor]

Sounds very interesting. I am still holding bonds and am watching this. Today, I sent an email to the trustee expressing my interest in participating.

However, the big players would be better suited to finance this.

I suggested to the trustee to
a) contact the Depository Trust & Clearing Corporation (DTCC), which could contact all people still holding the bonds (they can do that for corporate actions like splits/dividends etc.),

b) contact the plaintiffs in the ATP bonds securities class action, Court of Appeals Docket #: 1531094: The Firefighters Pension & Relief Fund; or in general members of the class,

c) contact the Bank of New York Mellon Trust Company, N. A. as trustee and collateral agent for the bonds.

The DIP Lenders should be interested in investing some money as well to recoup their DIP claim.

[rockraider3]

I'd be willing to dump in $70 per $100,000 face value that I hold, but what I hold is completely insignificant.

Shocking to me that the Trustee has no lists or information on who owns the bulk of the $1.25 billion in senior unsecured debt. Maybe beyond shocking.

Now I suppose at sub 1 cent, and with this being a dead fish in the water for years now, bondholders could have all turned over. But come on. Once you've ridden it down this far, there's no reason to sell to recoup principle on these at a few cents per bond (literally).

Seismic, if you are reading, give us an update please.