Replies to post #6790 on TMST Inc. (fka THMRQ)

[Enterprising Investor]

SAF Financial, Inc., et al paid $6.5 million on 3/23/12.

Cash and cash equivilents were $107,119,236 at 3/31/12. Total assets were $107,568,462.

[Olmsted]

A basic question - read the operating report - why is the ~$270m of senior note claims not recorded under pre-petition liabilities? Only $38m has been discharged with the Adfitech reorg, correct?

My general concern is that this seems to good to be true - and I'm trying to figure out what I'm missing. EG are the senior notes guaranteed by some sub that is long gone; after the Adfitech reorg, were they lumped in pari-passu with other claims; etc...

I don't see any DIP. Accrued professional fees are on the monthly operating report. So no surprises there...