Replies to post #3461 on BANKRUPTCY PLAYS (CHAPTER)

[4Kismet]

Huge news CHTRQ

http://finance.yahoo.com/news/Charter-Communications-bw-2100566850.html?x=0&.v=1

[Fourthquarter]

Life...how are you pal?
Regarding CIT BK. When is the best time to play this one for a bounce?
The first day after declaration of BK or the first day after it gets the Q?
I would appreciate your comment on this. I know you play a lot of Q stocks and thought you may help me out with this.

Also I am aware of that the management said the commons will be wiped out after emerging out of the BK.

TYIA

[I Like Bottom Fishing]

News for 'LEHMQ' - (=DJ BANKRUPTCY WEEK AHEAD: Lehman Seeks Claims- Resolution Approval)

'LEHMQ' News DJ BANKRUPTCY WEEK AHEAD: Lehman Seeks Claims- Resolution Approval.

Friday, January 8, 2010 11:11 AM

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Source: DJ Broad Tape

News for 'LEHMQ' - (=DJ BANKRUPTCY WEEK AHEAD: Lehman Seeks Claims- Resolution Approval)

By Marie Beaudette

Of DOW JONES DAILY BANKRUPTCY REVIEW

On Wednesday, Lehman Brothers Holdings Inc. (LEHMQ) will seek court approval to set up a framework to resolve more than $800 billion in claims filed by creditors against the collapsed investment bank.

Lehman's lawyers and financial advisers are working to resolve hundreds of billions of dollars in claims filed in the case since the investment bank filed for Chapter 11 protection in September 2008, the largest such filing in history.

The company is asking the New York bankruptcy court for permission to file single objections to 500 claims at a time instead of individual objections. But the plan is facing objections from creditors who say it would violate their due process rights to fight for what they say they are owed in Lehman's bankruptcy case.

Societe Generale SA (SCGLY, GLE.FR) and Canadian Imperial Bank of Commerce (CM, CM.T), which filed a joint objection with the U.S. Bankruptcy Court in Manhattan, called the procedures "unprecedented" for a bankruptcy, saying they "go far beyond what is reasonable and necessary."

In court papers filed last month, Lehman said the proposal doesn't prejudice creditor rights and will ease the administrative and financial burden of wading through more than 65,000 claims.

R.H. Donnelley Corp. (RHDCQ) on Tuesday will ask the Wilmington, Del., bankruptcy court to approve its plan to exit Chapter 11 bankruptcy protection, which would hand control of the reorganized company to its bondholders.

The Cary, N.C., directory publisher sought protection from its creditors last year after reaching a restructuring deal with some of its bondholders to exchange $6 billion in debt for 100% of the equity in the reorganized company and to exchange a $400 million note for a new $300 million note. Holders of most of the company's $3.5 billion in bank debt have agreed to extend the maturity on the loans to 2014.

The plan, however, is facing opposition from a group of senior bondholders owed about $394 million. The bondholders, whose debt is linked to the company's Dex Media West unit, say they're not getting a 100% recovery.

R.H. Donnelley, which has more than 4,400 employees and operates in 28 U.S. states, racked up billions in debt over the past several years through a series of acquisitions. The company bought Sprint's directory business for more than $2 billion in 2003 and three years later acquired Dex Media Inc. in a deal worth about $9.5 billion.

On Friday, the publisher of Reader's Digest magazine will ask the White Plains, N.Y., bankruptcy court to approve its bankruptcy-restructuring plan, which would slash more than $1.5 billion in debt off of its books.

The plan would give senior lenders led by J.P. Morgan Chase & Co. (JPM), owed $1.64 billion, 100% of the common stock in the reorganized company. The lenders are expected to recover between 53% and 63% on their claims.

Reader's Digest Association Inc. (RDA.YY) filed for Chapter 11 protection last year to restructure more than $2 billion in debt, much of which stems from the 2007 leveraged buyout of the company led by private-equity firm Ripplewood Holdings.

The company hopes to exit bankruptcy protection early this year with its funded debt cut by about 75% to $555 million. The publisher's financial adviser has pegged the company's enterprise value at between $900 million and $1.05 billion when it emerges from bankruptcy, according to court papers.

The plan, however, faces opposition from some of the company's retirees, who argue that the plan violates bankruptcy law because of "grossly disparate treatment" to similar groups of creditors.

(This item appears in Dow Jones' Daily Bankruptcy Review newsletter.)

-By Marie Beaudette, Dow Jones Daily Bankruptcy Review; 202-862-1354

(David McLaughlin and Pat Fitzgerald contributed to this article.)

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=lGtmXmZ9nagiLzDYP7isKw%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

January 08, 2010 11:09 ET (16:09 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.- - 11 09 AM EST 01-08-10

Source: DJ Broad Tape

[Fourthquarter]

Life...you on da house buddy????????
PTFC...huge play shaping up...see PTFC board plaese and let me know What you think...
TY