EXPM:EGRGF - Post by User
Post by
NewEraHustleon May 28, 2020 10:16am
175 Views
Post# 31082414
No love for the shareholders!
No love for the shareholders! I finally got a response from FTI on exactly what the terms were on this transaction.
"White Oak has purchased the assets of Eagle by way of credit bid. Their credit bid is for less then their secured debt. As a result they chosen to convert their remaining secured debt to unsecured debt for consideration in the Proposal, as is their right.
The White Oak credit bids were the highest and best offers received in the sale process, but neither provided any recoveries to shareholders. As a result you are correct that there will be no recoveries to shareholders as a result of this sale of Eagle’s assets by the Receiver."
We get sweet Fuu*k all! Better luck in all your other investments! Go "REVO".
Take care