Is BBI the next SIRI?

Quote from zdreg:

"The 2012's were playing hard probably never thinking they could be wiped out because they had the rules of capital structure on their side."

seriously don't they have lawyers to explain the reality?
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Who knows..... That comment was pure speculation on my part. But I don't think anyone could argue when you have someone asking for 95% of your equity and than not take a counter offer, that would be hard ball.

At this point, all this filing is, is a plan. It will now have to go through the court process and get approval. So the court will have the final ultimate say on the 2012's get wiped out or not. So we might not know for months from now.

I am switching to Netflix by the way.
 
This is the first time experiencing a bankruptcy from bondholder view. Do you know the process? Who will represent the 2012s in court? Is it the same committee that supposedly represented the 2012s in negotiations? I still don't know who the 2012s are and who represented them (consulting firm?). I think you said you didn't know either. I only have a few hundred bonds and don't have the resources to put up a legal fight. I'd really like to contact/talk to this 2012 committee. I don't want to assume someone is fighting for the 2012s when there actually isn't. Then we will lose everything.

Like you said, this is a unique situation in that bondholders are not given anything. I still think we get something if we fight.
 
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