Replies to post #30486 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[StihlsawsRule]

OK that would work, wouldnt that also mean that the entity assuming the existing debt would also have to 'carry' the current shareholders? It would be awfully hard to justify a wipeout of commons IMO under such a deal.
How could wormberg justify wiping out class 12 if 1 thru 4 will continue to be paid as agreed, and the 'new OPCO' will still be called JC Penneys?

[RickNagra]

Correct.