Replies to post #40145 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[DDMasterStocks]

$$$COTRP$$$ A deal has been reached. Goldmine!!!

A deal has been made with the Unsecured Credit Committee!


November 2nd 2020

UPDATE

We have learned this morning that the Debtors and the DIP Lenders have reached a settlement resolving the First Lien Minority Group’s objections to the sale and the plan.

The Debtors have also reached a settlement agreement with the UCC. We do not have the details of either settlement at this time.

In order to document the agreements and prepare a revised sale order, the Debtors have requested that the sale hearing scheduled for today be continued until November 9, 2020.

We will continue to monitor any developments and update further when possible.

Sincerely,

Niko Celentano

Chairman

JCP Ad Hoc Equity Committee