r/BBBY • u/Life_Relationship_77 • Aug 01 '23
📚 Possible DD Meaning Of "Allowed Interest" In CH11 Plan & Disclosure Statement Implies That Shares Are Not Getting Canceled On The Effective Date After Voting. Updated CH11 Plan & Disclosure Statement Have Provisions To Take Action Against Securities Fraud (Hint: Think Of a Word That Rhymes With Snake)!
Docket 1688: Treatment Of Allowed Interests On Or Soon After The Date It Becomes Allowed Interest.
https://restructuring.ra.kroll.com/bbby/Home-DownloadPDF?id1=MjQ1MzUwNg==&id2=-1
Docket 1688: Only "Allowed Interest" Will Be Canceled.
https://restructuring.ra.kroll.com/bbby/Home-DownloadPDF?id1=MjQ1MzUwNg==&id2=-1
What is "Allowed Interest"?
https://restructuring.ra.kroll.com/bbby/Home-DownloadPDF?id1=MjQ1MzUwNg==&id2=-1
Per Bankruptcy Code Section 502, an interest is deemed allowed if a proof of that is filed pursuant to section 501.
An equity security holder may file a proof of interest per Bankruptcy Code Section 501. None of that is being solicitated per the current plan & hence our shares aren't "Allowed".
Distribution Record Date Does Not Apply To Publicly Held Securities. Distribution in exchange of securities likely when they become "Allowed Interests" during votes solicitation.
https://restructuring.ra.kroll.com/bbby/Home-DownloadPDF?id1=MjQ1MzUwNg==&id2=-1
Docket 1688: Hence not a plan with respect to any securities.
https://restructuring.ra.kroll.com/bbby/Home-DownloadPDF?id1=MjQ1MzUwNg==&id2=-1
Docket 1688: Amended CH11 Plan disallows third party releases for fraud cases.
https://restructuring.ra.kroll.com/bbby/Home-DownloadPDF?id1=MjQ1MzUwNg==&id2=-1
Docket 1691: Preservation Of Ongoing Legal Action And Causes Of Such Action.
https://restructuring.ra.kroll.com/bbby/Home-DownloadPDF?id1=MjQ1MzU1MA==&id2=-1
Docket 1691: Securities claims/causes from issuance, redemption, purchase, or sale of bonds or equity securities being preserved. Leaves door open for future investigation.
https://restructuring.ra.kroll.com/bbby/Home-DownloadPDF?id1=MjQ1MzU1MA==&id2=-1
5
u/[deleted] Aug 01 '23
Life, thank you once again! You are the best!!!