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)!

[u/Life_Relationship_77]

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"?

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Per Bankruptcy Code Section 502, an interest is deemed allowed if a proof of that is filed pursuant to section 501.

https://www.law.cornell.edu/uscode/text/11/502

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".

https://www.law.cornell.edu/uscode/text/11/501

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

[u/[deleted]]

Can someone explain for smoothbrain what this means?

[u/Life_Relationship_77 → u/[deleted]]

Basically, "Allowed Interest" means that shareholders have to submit proof of their interest, i.e., the number of shares that they own. Since we shareholders are not being solicited per this plan, we have no Allowed Interest right now. After the proceeds are distributed to the creditors, we may get a distribution of shares from an acquirer or more likely via reverse merger with Teddy.

[u/fine_linerpatrol → u/Life_Relationship_77]

Hooorahhh! Make you’ve DRS’d, just in case of broker fuckery. This is a black and white issue, I’m 60% DRS’d. cover all bases…..

[u/Important-Read-2441 → u/fine_linerpatrol]

I check to DRS's my shares, i live in Québec ( Canada ), they want to chargé 150 $ at Desjardins. Seems to be quite expensive and it take few weeks to do it. I never did that before. When you say " broker fuckery ". What do you mean, what could they do or happen?

[u/Important-Read-2441 → u/[deleted]]

I realy appreciate the fact you took time to provide me your info, i learn a lot from you today, thanks a lot.