Replies to post #1651 on McDermott International Inc. (MCDIF)

[StihlsawsRule]

IMO it means you keep 'the right' to sue 'the estate' on a personal basis. My guess is they have some kind of legal form where you can 'opt in' to whatever joke peanuts settlement that they may have to 'offer' shareholders at the end of the day, just to make litigation go away. Standard BK stuff.
Hope that helps, I could be wrong, but Im pretty sure its something along those lines. Call the US trustee and find out for sure.

[Slojab]

Third party releases are provisions that release non-debtors, such as officers, directors, shareholders, or non-debtor affiliates, from claims and causes of action held by creditors or other non-debtor parties.

As a small shareholder of common stock, I don't think there's any danger of being included in any actions resulting from the bankruptcy proceeding regardless of whether you opt out or not.

I got my notice in the mail last week and simply tossed it in the garbage and will be taking my loss on Form D next year. That'll be the end of the story for me.