Replies to post #41055 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[Hunterdave]

So a ruling can be made without details??
How we are we to determine the ruling??

[intuitive3]

mrpenny, do you know whether bondholders need to opt in to qualify for the payment and earned benefit you detail? Thanks.

[Stockminder]

From Docket 1789 Statement from the UCC

? the creation of the Unsecured Creditors Earnout Pool8 to be funded with fifty percent (50%) of any incremental amounts under the Earnout Agreement9 between $110,000,000 and $140,000,000 to be distributed to holders of Allowed General Unsecured Claims (other than the First Lien Deficiency Claim) in accordance with the Amended Plan;

? the purchase of the Avoidance Actions by the OpCo Purchaser and its
corresponding agreement to not pursue, prosecute, litigate, institute,
commence, sell, convey, assign or file any Avoidance Action, as provided in the Sale Order10 and Amended Plan11;

? the payment of $1,500,000 on account of Allowed Second Lien Notes Claims12 and the Allowance of the Second Lien Notes Claim Amount as provided in the Amended Plan;13

8 Amended Plan at Art.I.A.209; Art III.A.6-8.
9 Amended Plan at Art.I.A.70.
10 Sale Order at ¶ 21.
11 Amended Plan at Art.XIV.P.
12 Amended Plan at Art.III.B.6.
13 Amended Plan at Art.I.A.181