The UCC and BOKD also believe they are broke. Why would they take pennies on the dollar in their settlement with the Debtors instead of fighting for a full recovery? With a year of back and forth in the courts with the Debtors and weekly status meetings, you would think they should not be satisfied with settling for pennies. Remember, they must have a full recovery before shareholders can even sniff a penny themselves. The truth is they are lucky even getting a penny since the 2nd lien holders in front of them are impaired. The unsecured creditors should not be getting anything either.
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