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Gabelli Utilities AAA Message Board

  • jrfillllion jrfillllion Feb 7, 2013 12:51 PM Flag

    Fred was chastising folks for selling Anthracite Capital in those May '09 posts, BUT...

    They went Bankrupt & FredTheBagholder was wiped out!
    000000000000000000000000000000000000000000000000

    UPDATE 1-Anthracite Capital to liquidate under Chapter 7
    Mon Mar 15, 2010 9:18am EDT
    * Court to name trustee to oversee liquidation

    * Shareholders not to get any value

    * Sees minimal recovery for unsecured creditors

    * Co externally managed by BlackRock Financial

    March 15 (Reuters) - Troubled commercial real estate investor Anthracite Capital Inc ACPI.PK filed for Chapter 7 liquidation in a Manhattan bankruptcy court more than three months after defaulting on its debt.

    The company said the court will appoint a bankruptcy trustee to oversee the liquidation.

    Anthracite said shareholders are likely to be wiped out in the liquidation process and recovery for unsecured creditors would be minimal.

 
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