Replies to post #41084 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[TraderAI]

Do you have a number in mind as to what the high and low and can amount to?

I’ll worn in this later but I was in a very bad accident two weeks ago and broke 9 bones and have appointments today to keep me busy and I can’t put a priority on this today

[Stockminder]

Since the Unsecured notes claim is for $1,346,360,131.29 I cant believe the UCC settled for 110,000,000 to 140,000,000 towards that claim plus have to wait up to 2 years to get it. Also since the definition of Unsecured notes includes the 2nd lien notes are they getting a piece of this in addition to the 150,000,000? Is there something we are missing?


From the amended chapter 11 plan

179. “Second Lien Notes” means the 8.625% Second Lien Secured Notes due 2025.
180. “Second Lien Notes Claim” means any Claim against a Debtor, the Estates, or property of a Debtor, including any Secured or unsecured Claim, arising under, related to, or in connection with the Second Lien Notes.
181. “Second Lien Notes Claim Amount” means $524,925,000, representing an amount equal to the par amount of the asserted Claim of the Second Lien Noteholders plus all nondefault rate interest accrued through the Effective Date plus the Amount equal to 20% of the par amount of such Claim, plus all nondefault rate interest accrued through the Effective Date.



209. “Unsecured Claims Earnout Pool” means 50% of any incremental amounts payable under Section 1 of the Earnout Agreement between $110,000,000 and $140,000,000.
210. “Unsecured Noteholders” means the Holders of Unsecured Notes.
211. “Unsecured Notes” means, collectively, the Second Lien Notes, the unsecured 5.65% notes due 2020, the 7.125% notes due 2023, the 6.9% notes due 2026, the 6.375% notes due 2036, the 7.4% debentures duec2037, and the 7.625% debentures due 2097.


Class 7 - Unsecured Notes Claims
(a) Classification: Class 7 consists of all Unsecured Notes Claims against any Debtor.
(b) Allowance: The Unsecured Notes Claims shall be deemed Allowed in the amount of $1,346,360,131.29.