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irgendwie ist mir nicht wohl dabei, wenn ich diese Namen lese. Vor allem der Zeitpunkt irritiert mich. Wollen die evtl. etwas torpedieren? Und was hat dieser im Yahoo-Board eingestellte Artikel (geht um SCPC und Absolute Priority Rule) damit zu tun?
"No ‘absolute priority’ rule after BAPCPA, federal judge says Quelle: messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview
10/14/2011
Oct. 14 (Westlaw Journals) - The “absolute priority” rule no longer applies to individual Chapter 11 debtors since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, a federal judge in Tampa, Fla., has ruled.
SPCP Group LLC v. Biggins et al., Nos. 10-2381, 10-2384, 10-2386, 11-33 and 11-34, 2011 WL 4389841 (M.D. Fla., Tampa Div. Sept. 21, 2011).
The rule, codified at 11 U.S.C. § 1129(b)(2)(B)(ii), comes into play when an unsecured creditor objects to a so-called “cramdown” plan. It mandates that unsecured creditors receive payment in full before the debtor may retain property of the bankruptcy estate.
But U.S. District Judge Susan C. Bucklew of the Middle District of Florida ruled on appeal from a bankruptcy court decision granting plan confirmation to a group of individual Chapter 11 debtors that the rule no longer applies to them.
The underlying bankruptcy proceedings involve Cypress Creek Assisted Living Residence Inc. and a related company, which own and operate an assisted living facility in Sun City, Fla.
Cypress Creek borrowed $5 million from American Bank in 2007 to fund operations. Several of the company’s individual shareholders agreed to personally guarantee the loan, Judge Bucklew noted in a written order.
Cypress Creek defaulted on the loan the following year and subsequently filed a Chapter 11 petition in the U.S. Bankruptcy Court for the Middle District of Florida, the judge’s order says.
The Bankruptcy Court eventually confirmed a reorganization plan that requires Cypress Creek to repay 100 percent of the loan, plus $36,000 in interest, to SPCP Group LLC, which was assigned the loan from American Bank.
Because the plan calls for the balance owed, together with any accrued interest, to balloon and be fully due and payable 72 months after confirmation, SPCP will be repaid 118 percent of its claim, the order says.
Cypress Creek continues to make repayments under the plan, according to the order. Nevertheless, SPCP brought a state court action to enforce the personal guarantees. SPCP is described in the order as the “debtors' largest unsecured creditor.”
dass man die Richtung am Kurs erkennen wird!?Ich bin mir da nicht so sicher!!!Es gab seit 2008 lang genug Zeit zu sammeln...und es wurden seit damals bestimmt mit insgesamt mehr als 2-3 Mrd. Wamuq´s gehandelt...
Wenn´s eine Einigung geben sollte und JPM ALLES mit übernimmt, dann bleibt die Kohle doch eh in Ihrer eigenen Tasche...also wozu jetzt hohes Volumen und Aufmerksamkeit anderer auf sich richten lassen, wenns auch plötzlich und schnell gehen kann mit dem ENDE...
Deshalb an manchen Tagen mehr Volumen bei Uns als in den US of B weil die Deutsche Bank mit dabei war schon vor 2008 und sich den EK gesenkt hat von damals ;-) !?
www.kccllc.net/documents/0812229/0812229111212000000000003.pdf
767 Seiten
Bin noch am lesen, aber :
Treatment of Common Equity Interests: Commencing on the Effective
Date, and subject to the execution and delivery of a release in accordance with the provisions of
Section 41.6 of the Plan, each holder of Common Equity Interests shall be entitled to receive
such holder’s Pro Rata Share of thirty percent (30%) of (a) subject to the right of election
provided in Sections 6.2(b), 7.2(b), 16.1(b)(ii), 18.2(b), 19.2(b) and 20.2(b) of the Plan, the
Reorganized Common Stock and (b) in the event that all Allowed Claims and Postpetition
Interest Claims in respect of Allowed Claims are paid in full (including with respect to Allowed
Subordinated Claims), any Liquidating Trust Interests to be redistributed, each to be shared on a
pari passu basis with holders of the Dime Warrants to the extent that Dime Warrants are
determined pursuant to a Final Order, to constitute Equity Interests or subordinated to the level
of Common Equity Interests in accordance with section 510 of the Bankruptcy Code; provided,
however, that, in the event at the Confirmation Hearing and in the Confirmation Order, the
Bankruptcy Court determines that a different percentage should apply, the foregoing percentage
shall be adjusted in accordance with the determination of the Bankruptcy Court and be binding
upon each holder of a Common Equity Interest.
und
1.73 Common Equity Interest: Collectively, (a) an Equity Interest
represented by the 3,000,000,000 authorized shares of common stock of WMI, including,
without limitation, one of the 1,704,958,913 shares of common stock of WMI issued and
outstanding as of the Petition Date, or any interest or right to convert into such an Equity Interest
or acquire any Equity Interest of WMI that was in existence immediately prior to or on the
Petition Date or (b) a Claim, other than with respect to the Dime Warrants, which pursuant to a
Final Order, has been subordinated to the level of Equity Interest in accordance with section 510
of the Bankruptcy Code or otherwise.
1.74 Common Stock Allotment: Ten Million (10,000,000) shares of
Reorganized Common Stock, representing five percent (5%) of the issued and outstanding
Reorganized Common Stock as of the Effective Date.
hier über 3 Jahre ausgeharrt haben,nun ist ein Grundstock gelegt auf mehr in Zukunft! Jedenfalls nix mit Commons "Null"
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