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COMDISCO HLDG RTS Message Board

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  • bskptkl bskptkl Aug 20, 2009 9:46 AM Flag

    cdcor

    37% is described in the Plan of Re-Org and also mentioned in CDCO's 10K.

    Latest Q shows 21.8 mm over 148.5 mm CDRs for .147 per CDCOR share.

    Additional upside may be possible if the Lit Trust recovers money (they are suing for 80 mm and settling cases slowly). As the Lit Trust settles cases, I see no reason why CDCO cannot pay a dividend.

    Small wins on the equity holdings are nice, such as last Q's Open Table ipo which netted 3 mm and change for CDCO.

    They paid a dividend last year in September i believe. I'm hoping it is an annual thing.

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    • 19th Litigation Trust report is out on PACER recently. It reports settlements with 16 people now (out of 67 total I believe), 6 settlements since May 2009. The settlements are confidential, but legal bills totaling $6 million (less a $1.5 million retainer seeded by CDCO) presumably have being paid out of the settlements.

      • 1 Reply to bskptkl
      • Up to 26 Lit Trust reports now...30 settlements, 9 bankruptcies - leaves 27 or so pending cases, mostly in state court. It seems everybody is waiting for the US ct of appeals to rule on defendants petition for yet another appeal, a wait that has taken six months now.

        Meanwhile CDCO liability to CDCOR holders is much reduced by all the settlements and consequently CDCO declared and paid an interim dividend to both CDCO and CDCOR holders. They paid out $20 million of their $50 million cash in April 2011.

        So "book value" of CDCOR shares is currently 9 cents or so while the big unknowns remain how much the Lit Trust can recover and how long it will take.

        I'm still holding, but would love to see a pop in the stock, like spring of 2008's random move into the 20s.

 
CDCOR
0.095+0.005(+5.56%)Sep 19 2:33 PMEDT

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