Replies to post #5948 on Motors Liquidation Company (fka MTLQQ)

[Investorman]

The BK court said that 10% of the new company would go to the old bondholders. They didn't much like this because 10% of the new company isn't worth anywhere near the face value of the old bonds, not to mention they will lose the interest on the bonds.

[puppydotcom]

I know its a freaking mess - I think they could of done a much better job in explaining the 363 BK sale and what would happen to the old GM share holders ..

of course people would have to read it and believe it ..
and not many people really did much DD .. just bought the stock based on past BK plays and the hype and the manipulation + shorts covering really added fuel to the fire


have him email me - I'll splain it to him...lol

[marayatano]

Modern ROck, the link shows the exact breakdown between the government (US and Canada), UAW Union and OLD GM bondholders (and unsecured). Adobe PDF page 12 (bottom) and 13 (top) OR page 7 and 8 of the actual document.

http://gmcourtdocs.gardencitygroup.com/pdflib/1969_50026.pdf