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persistentone

07/12/10 11:53 PM

#3986 RE: newbster1235213 #3985

You are probably right. The reason they are saying "Unknown" is because some number of those $2B claims are duplicates.

But isn't quantification of those Class 4 claims now the single determinant of the value of the entire deal for bondholders? If $2B of claims is really only $900M of claims, it still basically wipes out the value of the bonds if the Class 4 holders reject the plan. And I think they will for the reasons I outlined.