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Replies to post #63 on W2007 Grace Acquisition I, Inc. (fka WGCBP)
Olmsted
06/14/13 4:18 PM
#64 RE: Hank Moody #63
The preferred shares seem to have an interest in only 1 percent of the assets. If Goldman could find a way to put the 1 percent owner in bankruptcy, while keeping the other 99 percent out, it might be able to largely eliminate the preferred.
Even that might not be necessary. Goldman was also the lender in the deal, and perhaps it could restructure the debt in ways that would essentially give the debt holders — Goldman, that is — the ability to get everything, leaving the preferred shareholders with nothing.