OTCPK:TOUBF - Post by User
Comment by
arisaig1on Dec 20, 2011 9:37am
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Post# 19337405
30 days
30 daysYes, TRE has 30 days to negotiate something with the Senior Note holders to stave off bankruptcy proceedings. (As an aside, I wonder if Carson Block bought some of the bonds at distressed levels and is now initiating default proceedings, to fulfill his prediction that TRE shares will go to zero?)If they can come to an agreement, that at least buys time to attempt recapitalization of the company, or the sale of some or all of its business or assets.The wildcard is Chandler/ Davis and how they might attempt to protect their investment.