Replies to post #37753 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[greychris]

Thank You. For some reason I just found it. The email was placed in the promotions folder. My wife found them.

[TenKay]

This pretty much says it all.

Additionally, the Debtors made clear that the only potential competing bid at this time, the potential bid form the First Lien Minority Group, was not expected to change this outcome. Mr. Sussberg stated that he wanted everyone to “completely understand” that the fight between the DIP Lender Group and the First Lien Minority Group related to “value allocated amongst First Lien Lenders. We are not talking about value allocated to anyone else.”

Unless someone else can put a deal on the table...this is going to simply be a battle between the DIP lenders and the first line minority holders....assuming they can come up with something marginally better to participate to a greater extent in the asset sale.

The secured second lien holders, the unsecured creditors and equity can all jump up and down and “oppose” this...but it will get no where. If someone thinks there is way more value than represented by the stalking horse then let them put a deal on the table.

If they can’t...this is going to play out exactly as predicted.