Guys, what your talking about means nothing, what is this library they hold really worth?? If it is valuable the noteholders will back off and let them run a business with them overseeing what's going on, with someone on the board. The noteholder as I can see will get very little bang for the buck they have invested. It comes down to how honest or dishonest is the library value. Framesbane says it's worthless and we will see.
<<<Framesbane says it's worthless and we will see.>>>
I don't think you will find any place where I've claimed it's worthless. In a forced liquidation, it's probably worth around $60 million. There wouldn't be much point is liquidating the data assets as there wouldn't be anything left to issue new stock in after they were done. A reorganized Seitel, minus current management, might actually end up being a going concern once the notes are swapped out for new stock. In a year or two the note holders would be in a position to IPO their stock and probably get most of their money back.