Replies to post #204 on Energy Partners, Ltd. (fka ERPLQ)

[Cowboy]

Very interesting....sounds like commons will not be canceled

Under the terms of the plan of reorganization, the holders of the Company' senior notes (collectively, the "Noteholders") will receive their pro rata share of 95% of the outstanding common stock in the reorganized Company upon its emergence from bankruptcy, and the current stockholders in the Company will receive the remaining 5%, in each case prior to any issuance of shares or options under customary employee incentive arrangements.