Probably is the re-registration of TOPrs. If equity that would be handled through the TA. I think Tricadia is trying to get as much debt as possible. That is why they are painting such a bleak future. Then bring on a D/ E swap and they suddenly have controlling interest in CBI. They merge and inherit all assets to include the NOLS. Mr. Big simply sells controlling interest to Tricadia and the the debt hold outs. Really it is a simple plan and brilliant. IMHO
Guys the article I read this morning was talking about the need to re-register securities-common shares- after a D/E swap. There were no other examples of the need for re-registration.
After all, if you have a D/E the trups would be gone because they were swapped for equity! Thus you would have a situation of a co with 'new shareholders' and no debt... (Then what would Tric trade? They've said they want to be able to trade the trups.)
Thus to me as I've said, it might be unlikely to have a D/E.
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