Replies to post #1718 on MF Global Holdings, Ltd. (fka MFGLQ)

[JJZander]

Check out HDOGs posts

[jaxstraw]

Because all classes above 9A must be paid in full for equity to receive anything at all.

Basic BK requirements. It's called 'Absolute Priority'.

http://definitions.uslegal.com/a/absolute-priority-rule/

One of the best BK posters on IHUB spells it out clearly in this post.....

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87047707

I suggest everyone read the following very carefully:

Class 9A Common Interest shall receive its Pro Rata
Share of Holdings Ltd.’s Available Cash remaining after all Allowed Claims in Classes 4A, 5A,
6A and 7A and Allowed Interests in Class 8A have been satisfied in full pursuant to this Plan,
consistent with such Holder’s relative priority and economic entitlements in the Plan Trust Stock

Then review the Disclosure Statement for the range of estimated recoveries. Pay close attention to Class 5A and Class 6A.

Now look at 'Estimated Recovery' percentage from the DS for Classes 5 & 6....

Not even close to being 'paid in full' ....which is the requirement for any equity recovery.



http://www.mfglobalcaseinfo.com/pdflib/Final_DS.pdf

Now look at Class 9A claims and the 'Recovery' percentage from the same Disclosure Statement....

0.0%

Deemed to Reject....because there will be no recovery for equity....so Equity gets no vote on the Plan of Reorganization.