Replies to post #37803 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[TenKay]

And you think the Judge would be blind to this? At the beginning of these things there is always interest, folks kicking the tires, etc.

But when it comes time to make a formal offer...the reality comes to the fore.

Who is actually willing to put cash on the table?

And nobody is.

So...it is left up to the lenders and the debtor to start working it out.

That is what is happening.

The fact that the DIP lenders and the first tier minority lenders are duking it out is the nail in the coffin to equity.

There is only so much to go around and it isn’t going very far.