The debts coming out of BK will all be reaffirmed. Reaffirmed debt is reinstated debt. Reinstated debt will get paid. I have yet to find a case that did (its late at night, I did not try very hard lol) that but, one that did exactly what I said in GM. I am sure there are more cases of reinstated debt getting paid that can be found. Most of the debt holders from GM case were reaffirmed debt. Those goobers took everything.
Do you really think there will be any NOLs left to preserve? Now the POR, one will have to read the fine line....words like "remaining assets" are very tricky...I can not say this will happen but, I am sticking to my DD and case studies that this is the path its going....Either way, the guarantee clause will pay out CTs before any payments to OBS. Reaffirm debt trumps equity in any hierarchy....you have too much debt, equity is worth less or even worthless...that is finance and accounting....get da picture...go figure...devil
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