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Replies to post #404 on ATPG Senior 11.875% 2nd Lien Bonds (fka ATPG.GE)

Replies to #404 on ATPG Senior 11.875% 2nd Lien Bonds (fka ATPG.GE)
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Enterprising Investor

05/09/13 10:52 PM

#405 RE: seismic #404

The trustee represents the interests of 2nd Lien Bondholders.

The trust company is responsible for hiring legal counsel and paying the bills. The issuer is responsible for reimbursement.

Certain holders formed an Ad Hoc group. Normally, the goal of such a group is consensus building when working with other stakeholders in developing a reorganization plan. This is important because secured creditors are not members of the OCC.