Replies to post #1323 on Syncora Holdings Ltd (fka SYCRF)

[cadillac107]

By far, the majority of foreign equities trading in the U.S markets trade in the unlisted or otc market. Although I do not follow this particular security, and don't know whether it trades as an ADR, or ordinaries, my hunch is that its shares are unsponsored. Additionally, before a foreign company may apply for listing on a national market in the U.S., there are a number of certain minimum capitalization criteria which must be met. Finally, not all corporations even desire to be listed to begin with. GLTU.

[rockraider3]

They aren't listed because they aren't a party to the PSA. I forget the language of the PSA offhand, but they would be included in the "non-consenting" monoline group. Syncora has challenged the PSA with a fairly strong objection, but the Judge punted saying that their objections were more in line with objecting to the Plan Confirmation. So we wait and see.