Replies to post #28775 on Box Ships Inc (TEUFF)

[temp luvs amy]

Change in control is the wording, not BK. Neither Boogaloo, nor I will live forever, and such a change is inevitable.

Liquidation is also a qualifying event. So if the company is liquidated in BK, guess who is first in line?

[temp luvs amy]

OTOH, the preferred holders have been really quiet. You might be able to take the company without their consent, and stiff them like boogaloo has for the past several years. I think I mentioned that angle a year ago.

My Father always said: "It's better to owe it to you than cheat you out of it." Just carry the debt. Renegotiate it, etc. They already lost, they don't have much to gain by opposing a good plan. Come up with a good plan.