GREY:TBTEF - Post by User
Comment by
Oldfart74on Aug 23, 2017 10:06am
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Post# 26611605
RE:Deb's
RE:Deb'sjohnb12 wrote: I am wondering if anyone has heard if we are getting anything ?I
have $60 k in debs and 60 k in com . stock any thoughts
thx
John
The court on June 30 has ruled that debentures are subordinated to all other debt. This decision may be the subject of an appeal - perhaps someone has an update. There are over $10 million in claims disallowed by the Receiver- these claims will have to be reviewed by the court for a decision. Approved claims by trade creditors may be paid in September at which time Receiver may be permitted to pay a portion of the debenture debt. Just a guess.
Common stockholders can expect zero unless Burge gets some traction on his phantom class action lawsuit.