Replies to post #2478 on Dime Bancorp Inc (fka DIMEQ)

[jmbell42]

The warrants are addressed, but what is not addressed is the outcome of the adversary proceedings (i.e. the Broadbill claims that we've been discussing).

Essentially, if Broadbill wins, then that D/S POR is moot and we are re-classified as debt (i.e. unsecured creditors with a claim on the estate).

If that occurs, then as others have pointed out, we should be given our payment at 70-80% par value. In our case, the "par value" is the adjusted litigation recovery minus fees and so forth.

I'm sure that, if we win, some young attorney or paralegal will be able to bill all kinds of fun-filled highly paid hours arguing over just how many dollars that is... oh, and setting the final billing for the legal representation of course!

Anyhow, I typically ignore the D/S mailings, since they are old news anyway.

Plus, according to the D/S POR, the DIMEQ warrants have been worthless for over 2 years now... go figure.

[jmbell42]

Newbster1245213,

I see now that you already had the adversary and liquidating trust mentioned in your post! I didn't see the last paragraph or two down at the bottom.

So, you're right, the DIMEQ are addressed. The only remaining question is, "Will we win?"

Also, what's with that $191M, did they just pull that from an assistant's hindquarters?

They don't even mention why this amount is even offered, so we don't even know if they can do math properly... as a physicist, I know to always show my steps in arriving at an answer.