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Pimco New York Municipal Income Fund III V.PYN


Primary Symbol: PYN

PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified closed-end management investment company. The Fund's primary investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income. The Fund may invest up to 20% of its total assets in investments, the interest on which is subject to the federal alternative minimum tax. The Fund also invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality. Pacific Investment Management Company LLC (PIMCO) serves as the Fund's investment manager.


NYSE:PYN - Post by User

Comment by eisenkreuzon Nov 01, 2012 9:36am
204 Views
Post# 20549077

RE: RE: RE: tulip bulbs

RE: RE: RE: tulip bulbs

The shareholders will be getting back money.

 

It is quite possible, after all costs, to have 12$MM remaining to be split among shareholders.  It could be more than that.  The trustee will have to hire an advisor familiar with the industry.  Of course that are going to look at the patent portfolio and if the current bid is not accepted then the company will be split into parts and sold.

 

The trustee is looking after the interest of all levels of creditors including shareholders.  He is going to extract the best possible deal.

This is going to happen quicker that you can imagine as the value of Poynt will depreciate over time.

I will lowball the recovery for shareholders at around 0.06$ per unit.  Another poster had a 0.10$ expectation and that is possible also.

 

Truly and sincerely I wish all Poynt stakeholders the best.  This is a tiny blip and the lessons learned here is priceless.  What is the lesson?  Learning how to discern BS for a CEO.  This will serve everyone in good stead.

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