Replies to post #944 on Savient Pharmaceuticals Inc (fka SVNTQ)

[hawkmd]

Agree, something doesn't add up. They reached an agreement to sell substantially all the asset but not all the assets. Also yesterday after the news was released in the morning, someone was buying over 1M shares... and today we had someone at 0.015 buying every share. In this case we have only two options, either someone is getting ready to trade this hard and fast or somebody know something that we don't. Anyway Thank you very much for been at the court tomorrow. I will follow on twitter....

[kg2931]

I attended and represented my filed objection at "the hearing" this morning by telecon. I'll mention a little on that in Yahoo today.

Don't understand your: "deals made for the debt owed, and there are some subsidiaries that are not part of the BK". Any/all proceeds from bankruptcy will go to creditors and like know shareholders last. So, how would other "deals" and "subsidiaries that are not part of the BK" have any entitlement to of the proceeds?

As of 6/30/13 Savient had 73M shrs of common stock outstanding. According to the 10/14 filing, there are still (were?) "debt securities held by more than 500 holders". So yeah, it is "interesting that more shares haven't traded" but I don't know how we find out how many shrs are still outstanding and/or how many of the "500 holders" are still holding. I know I'm still holding.

I hope that you are right in this case that, "rare that there aren't surprises in a BK case". I am sticking around and hoping for a miracle to return some of of the my investment on my now worthless shares ($98,200 CB!).