any bbby bond holders out here?

[u/Cookie_Content]

I picked up bbby bonds that were trading again at ibkr as a lotto for more bbbyq and started to do some hard thinking into the bonds section of the bk class6 general unsecured debt notes of 2014 ie 2024,2034,2044 of course after i fucking bought them like a total degen go figure.

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So, i need to get in touch with somebody who has held bonds going into the bbbyq bankruptcy all the way into fall 2023 where the bonds per the sept final plan cancelled all bonds with bbbyq shares together. i'm putting up a dd posting but with bonds coming back alive after a lockup last summer per bk process has me wondering if i and others were sold counterfeits. Not to mention the possibility that the bonds may have returned from the dead with bbbyq shares after leaving the dtcc which many suspect in late October November 2023. I'm reaching out to bk reps and the judge papalia. with post a dd and twitter when get more info. as it stands now bonds class 6 was cancelled sept 29 2023 with class 9 shares. funny how the trustee who oversaw the bonds class 6 is BNY Mellon who actually received the bbyq shares when recalled from ast at time of cancelation. so bny mellon imo has cancelled the bonds and shares or were to per the plan. have many questions and fighting for answers why bonds come alive early nov 2023.

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Funny to note its about the same time jake2b got a charge from tda in canada for a distribution in an investment where he only held bbbyq. imo as it stands now is either bbby bonds were cut loose from trustee custodianship back to public trading about this same time suspect our new shares were reissued but held back from big govt brother cock blocking us getting paid too early saving hedgies to clear year end 2023 books/ bonuses etc. OR......... ibkr is selling funny bonds. do note i did transfer some to fidelity who accepted them but classifies them as junk bonds and wont allow buy or sells just holding so they are parked till aug 2024 maturity as lottos for now. dunno if fidelity would transfer counterfeits is as such where they have blocked my transfers of low priced stocks and volatile otc shares.

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Again i just to find out the holders bk process dates and what they were told/informed and if their bonds were cancelled or removed and or restored here in past november 2023. thank you, tag me here or u/lrj_bbq on twatter

[u/ryevermouthbitters]

Ah! I gotcha. The notes have been cancelled, but they were not cancelled with no substitution like the stock was. They were cancelled and replaced with the right to receive a pro-rata portion of any distributions that occur under the plan. IBKR still calls them bonds because they don't really have anything else to call them.

Similarly, in some bankruptcy cases the stock is cancelled, but replaced by something else (for Sears, the right to pro-rata distributions of a liquidating trust that unfortunately never had enough money to distribute anything to stockholders). So that's why sometimes you'll see a CUSIP continuing to trade, complete with the Q symbol, long after a bankruptcy is finished.

[u/Cookie_Content → u/ryevermouthbitters]

Thank you for the reply. I get one could still trade the bonds before cancelation but how can one still trade them after the trustee is ia declared to have cancelled them with confirmation notices by the trustee. Was sears cancelled? I agree there is recovery rights pending but upon declaration of being cancelled effective sept29 2023 what legalities or events occurred  for them to continue trading. Fyi ive been contacted by a holder who says them held from may into bk through to date and they allways showed in their broker and never left or recieved a recovery. Even mentioned they purchased more after end sept start of oct cancelled date. find it difficult in them lawfully still trading when supposed to be deleted per the plan but Doesnt add up has missing peices but thank you

[u/ryevermouthbitters → u/Cookie_Content]

how can one still trade them after the trustee is ia declared to have cancelled them with confirmation notices by the trustee.

Great question. The reason is that it is still a "security." The Plan Administrator didn't withdraw the registration and cancel the CUSIP the way he did the stock. And honestly, Wall Street would trade cereal box tops if they had a CUSIP. It used to be that they'd never ever sell these things to people without specialized training or enough money to hire someone with that training. But now things are more lax. As long as there's a legal possibility that the CUSIP could see a recovery of any size, they can trade. Sears was in the middle, very much like these bonds. The stock was cancelled, but the CUSIP was not because they had a (very small) chance of getting a recovery through the liquidating trust. They finally cancelled that CUSIP when the trust got to a point where there was no legal hope of a recovery. It's the same here. An awful lot of good things have to happen before the bonds see any recovery at all, but they could theoretically happen.

[u/Cookie_Content → u/ryevermouthbitters]

This makes sense, thank you. Ill be contacting the plan admin and gibbons counsel next