Your hard work and due diligence has paid off. All of the time that you have spent on this stock was worth it. Assets have now far eclipsed liabilities, with more deals announced tomorrow.
The deal with UK Pensions for the PI & DI must have been in negotiations for some time. There are a lot of disgruntle folks that might have wanted those assets.
But it would be had to take that away from the UK Pensions if that was the highest price EK could get for those units.
Another question I have is that Ernst & Young was given additional work that must be done by the first week of May 2013. I don't think it had to do with the PI or the DI because that seem to have been triggered by market demand.
Thoughts on what Ernst & Young is working on?
Congrats to the stockholders ??? Boy are you in for a surpise. The old stock is gone in the end and if EK is ready, or can get out of BK, the stock will be cancelled any day either after trading or after being halted. The old stock has NOTHING TO OFFER EK but the new stock HAS CAPITAL that EK MUST HAVE. Think about it.
"Certainly hope you're right in your call about the spinoffs and stock for the longs."
Really? Kodak is going to combine and spin off two units then issue stock to Kodak shareholders who will then sell that stock to the UK pension group?
No wonder you hold EKDKQ shares.
"Assets have now far eclipsed liabilities"
From before the losses of the past year.
TOTAL ASSETS $ 4,403 $ 4,678
Total Liabilities 7,634 7,028
TOTAL DEFICIT (3,231 ) (2,350 )
Not even even much less 'totally eclipsed'.
With the 2.8 Bil UK liability gain + 800 Mil OPEB gain + 500 Mil IP sale ( not on books)
i think assets do exceed liabilities now and the POR might have a small % of newco equity assigned to the oldco shareholders. Very hard to make a case for a total wipe.
i dont really care...unsecured bonds getting 100% for sure...within 6 mons
The WORST decision so far? The OPEB sale of their unsecured liability for 11 cents.
i did buy some common today on speculation.
This is an incredible deal....beyond anything I could have imagined. The recovery for the bonds- in some mix of cash and newco stock is 100% IMHO.
Not sure how oldco stock can be extinguished now...any valuation hearing can make a strong case for retaining some percentage equity for oldco holders.
"Not sure how oldco stock can be extinguished now...any valuation hearing can make a strong case for retaining some percentage equity for oldco holders."
By making the case that the company a commercial printing and packaging enterprise in a highly competative field