Replies to post #11 on Dynegy Holdings LLC Bonds (DYN.HQ)

[Enterprising Investor]

Third Amended Plan of Reorganization for Dynegy Holdings, LLC Proposed by Dynegy Holdings, LLC and Dynegy Inc. (6/08/12)

Under the Plan, Class 1 – Priority Claims, Class 2 – Secured Claims, and Class 4 – Convenience Claims are unimpaired classes and are therefore deemed to have accepted the Plan. Class 5 – Securities Claims and Class 6 – Equity Interests are not entitled to distributions under the Plan and are therefore deemed to have rejected the Plan. Accordingly, only holders of Class 3 – General Unsecured Claims are entitled to vote on the Plan.

Disclosure Hearing scheduled for 7/02/2012 at 10:00.

Objections due by 6/25/2012.

Source: Epiq Systems [Docket 785]

[Enterprising Investor]

Dynegy Administrative Claim is a "settlement currency".

The DAC "is not a distribution to shareholders on acount of their equity, a distribution of based on enterprise value or a distribution under the plan".

It is paid by the DH estate to the DI estate in order to settle any holdup value that DI would have in prosecuting potential claims and causes of action againts DI in connection with pre-petition restructurings.