I think this is the last adversary case.
United States Bankruptcy Court Southern District of New York John Krakowski, Kevin Horner, and M. Alicia Sikes, individually and on behalf of those similarly situated v. American Airlines and Allied Pilots Association Adv. Proc. No. 13-01283-shl
Here is the schedule for the case. Hopefully they will finish it this year.
AND NOW, THEREFORE, the Parties stipulate and agree as follows.
1. American will file a motion for summary judgment, and APA will file a renewed
motion for summary judgment, by August 12, 2016.
2. Plaintiffs must file their oppositions by September 23, 2016.
3. American and APA must file their reply briefs by October 21, 2016.
4. The parties will contact the court within seven days after Defendants’ replies are
filed to schedule a hearing on the motions.
Looks like they are wrapping up the final adversary case.
Maybe we will get the final distribution this year!
8/11/2016 13 Motion to Dismiss Case filed by Steven K. Hoffman on behalf of Allied Pilots Association. (Attachments: # (1) Motion to Dismiss # (2) Memorandum in Support of Motion to Dismiss # (3) Proposed Order) (Hoffman, Steven)
I am doing good.
No new news. No reason for the drop.
They did update the FAQ on 7/13.
Paragon has requested a Sept 8 & 9 date to conclude the confirmation hearings. Its all in the court filings.
I plan on buying some more shares if we continue to stay this low.
Sentiment: Strong Buy
IMO BBEPQ common shareholders will not receive anything in BK and may be cancelled.
Here is a line from the FAQ for BBEPQ.
There can be no assurance that Breitburn's Common Units or Series A Units will retain any value or receive any distributions or consideration under a Chapter 11 plan.
Here is what PGNPQ said in its FAQ about its common shares when it entered BK.
Paragon’s existing equity holders will retain 65% of the company’s resulting common equity.
Buy more PGNPQ!
Sentiment: Strong Buy
If I had not already maxed out what I am willing to buy I would be buying.
Considering how it went up today on no news if we get positive news it will be considerably above the current price in no time. This will run fast with news.
No I have not called IR. They can't tell you anything that is not already public.
I have all the info I need from the court docs and the FAQ page.
Just need to wait for the news.
You may not get news this week or next it all depends on how the judge handles the case.
Yes I still have all my shares. I have not sold any.
I am waiting for the plan to be approved.
I might sell a few after approval.
NOV 30 2015!!!
Shares Short (as of Nov 30, 2015)3: 18.14M
Short interest as of
Jun 15, 2016 4,098,277
Here are the results of the voting for the plan.
Revolving credit lenders
13 (100%) $795,661,527.81
Senior Note Holders
171 (98.84%) $922,808,091.81 (99.95%)
2 (1.16%) $467,472.75 (0.05%)
You are wrong on the CUSIP and cancelling of shares.
It does not state that the common shares will be cancelled and new shares distributed.
Class 8: Parent Interests.
(a) Treatment: On the Effective Date, the holders of Parent Interests shall
retain their Parent Interests, subject to dilution on account of the Parent Ordinary Shares to be
issued in accordance with this Plan. After the issuance of the Parent Ordinary Shares, the Parent
Interests shall comprise in the aggregate sixty-five percent (65%) of the total outstanding
ordinary shares of Reorganized Paragon without regard to the Management Incentive Plan
The term "After the issuance" means to the bond holders that are receiving shares.
You will keep your shares as if nothing happened.
Yes if the debtors could not create a plan that was agreed to by the creditors then the TL could submit a plan.
Paragon has already submitted a plan that has been accepted by the creditors that are impaired. The only thing left is for the Judge to approve it.
Its a normal filing to extend the exclusivity period.
Google exclusivity rights for a debtor,
Here is just one of the results.
Debtor’s Right to File
One of the most significant benefits afforded to a debtor in Chapter 11 is the exclusive right to file a
Chapter 11 plan during the first four months of the debtor’s bankruptcy case. This exclusivity period may
be extended by the bankruptcy court upon a showing of cause for up to a statutory maximum of 18
months. Conversely, a party-in-interest may seek to terminate the debtor’s exclusivity period for cause
so as to permit nondebtor parties to file their own Chapter 11 plans.