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School Specialty Inc. Message Board

  • greenshotshut greenshotshut Feb 1, 2013 3:53 PM Flag

    News: Bondholders objecting to BK. Finally!!!!

    The Steering Committee objects to the proposed debtor-in-possession (“DIP”)
    financing facility from Bayside Finance LLC (“Bayside”) because the Debtors cannot satisfy
    their burden of proving the terms of the Bayside DIP Facility are fair and reasonable and that no
    better financing alternatives are available. Because alternative, superior financing is available on
    non-priming basis from the Steering Committee, the Bayside DIP Facility fails to satisfy the
    requirements of section 364(d)(1)(A) and must be rejected.

    Sentiment: Strong Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • But shareholders are still silent, even on this board ... I hear no complaints except my own. When are shareholders going to start fighting for their rights. I see bondholders are objecting. What about shareholders? No guts? Time to get your #$%$ off the couch and do something ... bang on a few tables, especially the CEO, write letters and emails to the CEO and investor relations asking them why they are betraying the shareholder's trust by selling the company so cheap. Realize that the cheaper they auction off the company, the less likely shareholders will see even one cent from this sale. I'm definitely going to get to the bottom of this crime of the century ... stealing a whole company directly from under our nose. Shame, Greed, Punks.

 

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