Replies to post #27725 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[imrichbeotch]

That’s a good question. It doesn’t say that anywhere it’s just an assumption that they will be but there is also an assumption that legacy and current commons will be paid off too.

[thelionwarrior]

I think the correct wording in the beginning was that the shares were deemed "worthless". The idea they will be cancelled is based on other bks. Since the original filing there have been several changes that some hope will save commons instead of them being left worthless. Unfortunately there has yet to be any proof that there will be enough equity for commons to get any kind of compensation. What we do know is if JCP is liquidated commons definitely will not get anything. So that's what we dont want to happen.