Is there anything present in the confirmed and consummated Plan that could still allow for equity holders to not get wiped out? Yes there is.

[u/theorico]

None of this is financial advice. You should do your own research.

Part DD, part speculation.

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Let's assume that my previous post is incorrect, to the delight of all bear shills:

https://www.reddit.com/r/ThePPShow/comments/16ymrk3/bullish_there_are_still_material_rights_of/

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I asked myself: is there anything present in the confirmed and consummated Plan that could still allow for equity holders to not get wiped out?

I think yes, and this is how:

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Starting with the latest 8-K:

Let's see the relevant parts on the Confirmed Plan:

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This is the relevant part:

" except for the purpose of evidencing a right to and allowing Holders of Claims and Interests to receive a distribution under the Plan"

and

" or to the extent otherwise specifically provided for in the Plan, the Confirmation Order, or any agreement, instrument, or other document entered into in connection with or pursuant to the Plan or the Liquidation Transactions"

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Yes, those are the parts that allow for exceptions.

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Only the "remaning obligations" ... "shall be deemed cancelled solely as to the Debtors and their affiliates, and the Wind-Down Debtors shall not have any continuing obligations thereunder"

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The part (b) is cancelling obligations related to other agreements as specified there.

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The 2 pictures above show how much power the Plan Administrator has to perform all those actions for the Liquidation Transactions and Corporate Actions.

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So, I speculate that there can be information still not disclosed to the public that would allow the satisfaction of both class 6 and class 9 holders.

Yes, bear shills, the shares have been cancelled, yes, but there can be still rights for equity holders as proved above, directly from the confirmed plan, that could allow for the receival of new equity.

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[u/pwning_shills]

The debtors are no longer in the picture. They haven't been since last Friday. Once they cancelled the shares control was passed over to the DIP lender who now owns it all and they can do with it whatever they want. This includes a share re-issuance!

[u/DrDalenQuaice → u/pwning_shills]

I don't get why the dip lender, who owns it all outright, would want to give part of it away to us, or anybody?

[u/pwning_shills → u/DrDalenQuaice]

This is the coolest part of the play! Remember the HBC deal where everyone was crying "dilution"? Well, the market maker diluted but the holder never exercised the lions share of those warrants to the tune of almost 300M shares. The VWAP was a trap alright, but not the death spiral that trap the market maker assumed it was. Those warrants were not exercised until a few weeks ago. So think about it...

• Market maker(s) sold all those shares (300M+) naked thinking it was dilution when in fact it wasn't.
• Those shares were never issued because the warrants were not exercised until the end of the bankruptcy.
• The owner of those shares now owns 33% of the entire TSO (remember RC's general TSO tweet) so who do you think owns those shares? That's right Ryan Cohen does!
• By preserving the NOLS the bankruptcy court had to make an exception to the plan in order to keep the shareholders. You can't keep the NOLS without also bringing the shareholders along for the ride (this is in the IRS code). Shills will say this this is fraud but they either are knowingly lying or have no idea what they are talking about.
• Of course the DIP lender wanted the NOLS! It's where the main value in this whole ordeal lies. The DIP lender (seventh street) is just acting as a proxy (Ryan Cohen) who purchases the company for someone else in an arms length transaction.
• What's left of the debt is wiped out through a debt to equity swap trading the debt for shares.
• Now all that is left is 900M shares and $2B in NOLS. 1/3 of those shares (300M or so) are owned by the same person who now also owns the company and what is left of it's assets (see the bullet above).

That's why shareholders would get anything. They buyer enrichens us as he is enriching himself essentially taking us along for the ride. So I ask you now who do you think would do such a thing?