yes that was true at that time as you don't want to divulge competing offers, leverage. at this time, when the por is confirmed, there is no reason to seal it and no reason to not share the 4th amendment even 2 hours before making it final the 4th amend came around 9 pm in the dockets on the same day it was made final. i am told by various sources that this order will be vacated and is criminal if pursued properly and through proper resources. i did not make a bad investment but made a bad judgment on actors in this: same actors and massive scale fraud. numbers don't lie. they were going to debate aronson valuation but they escaped as they know manipulation will be exposed. not to worry , every journalist is being informed of it and soemone will come forward to look into it. won't go far, not this time. i hope. i suggest everyone who has a stake do the same and contact people who would help expoose it. they will do it again if we don't expose it. same judge, same creditors.
it also shows that the judge failed in first restructuring and thus lost credibility. fraud continues. sealing documents after documents does not give him credibility and he even sealed the final one.
big.yank • 4 minutes 40 seconds ago
The Great Teeth-Gnashing Syndrome
Investors that see a large holding wiped out are the first to blame somebody, anybody else to avoid manning up and simply admitting they made a bad investment choice. From July, 2013 Exide stated a framework likely to form their plan for exit from bankruptcy. They stayed remarkably true to that early framework as each stage progressed leading up to the Fourth Plan which was approved.
This is the same judge that sat through Exide's earlier re-organization and his decisions strike me as remarkably consistent with what he concluded during the prior exercise. Why would a similar outcome surprise any reasonably intelligent individual?
I am sorry that many people lost money, or failed to make as much money as they envisioned, based on this outcome. I, for one, am pleased with the company remaining in business and taking a moral high ground in addressing its environmental issues, once and for all
if anyone cares, shoudl write to judge, trustee, sec, department of justice, brenadan shannon, i really don't know who will really do something about it,
i think so. wilson's lawyer could do it. he was right on. everything is sealed, why would you seal it after confirmation unless you are full of fraud? why would you hide almost everything where you excluded other stakeholders? why not debate the fraudulent valuation? same judge, same creditors
same actors, same judge and same creditors. just read objections in docket 3375, 3376 . lazard was going to debate but instead they shut the wilson’s as they don’t have guts to justify the manipulation. big fraud painted all over
a fight for for justice and truth and enough data exists out there. it boils down to an inside job between judge and creditors without adequately disclosing info to all stakeholders such as us and not delving deep into valuation that judge denied wilson’s. judge sealed almost everything and hasn’t opened docs that were supposed to be unsealed by now. sec as a reputation of doing nothing but it is our job to let them know.
this was an inside job and clearly a fraud. we should write to various agencies and leave it to that. If you care do it but put down facts with attachments.
-there was a meeting on 26th that was not on the court schedule and not listed on the restructuring site. there was no docket as to the content of this meeting and no docket on what was discussed. i suspect that the dip lenders duped the judge that the dip extension won’t be extended while it was signed and ready as we can see it released on 27th. why extend if it was to be confirmed on time? stakeholders like equity holders were again misled and information was not shared but was shared with just the creditors as if equity owners don’t exist. this is securities fraud in my opinion. what do you think?
-the 4th amendment of por was the basis of approval and was not even listed on the agenda, not presented on restructuring site until about 6 pm (ET) on 27th, that is after the fact. moreover the transcript was sealed and thus further eliminating equity owners from info. this is securities fraud where things were done in secrecy between judge and creditors and equity owners were eliminated in a process that should be transparent. this should be reported to department of justice. you all should do it too if you care. folks this is happening for the second time, same judge, same creditors.
-the knowledge of the approval came from wsj. the restructuring site or the exide site at that very moment did not had this info as I did look as many of you did too. there was nothing on sec site either. this is not consistent with securities law and must be reported. it shows how lax they were and inside job between judge and creditors and forget that there are other stakeholders
-the retail noteholders (wilson) had very important point of refuting the valuation but were shut up by the judge. this is not right. a judge needs to be fair and allow it. hope wilson’s do something about it and report it. docket 3375, 3376
big yank, i always knew you were "big bank". you disappeared from ihub or were kicked out?or your #$%$ stopped working on ihub so you thought to try it out here?
big.yank big.yank • 3 hours ago
Hearing at 10:00 AM
Good luck, everyone! I am personally hoping for confirmation.
big yank, go and see a shrink. you need it.
"big.yank • 4 hours ago
There is NO money unaccounted for. I do read all the dockets. I only rarely read iHub anymore because YOU drove off all the worthwhile discussion by insulting and denigrating posters that had anything even marginally negative to say about common shareholder's recovery.
YOU drove off an employee offering insight from Europe, a poster with a friend remaining with Exide in North Carolina, a Canadian employee with insight into the lost customer scenario and, yes, you drove off me with a litany of insults, falsehoods, lies and threats.
big yank , you said you sold all of exide stock and your pessimism reverberates on ihub. how is newl doing that you pumped the hell out of ? you are into fraud and bermuda companies?
i never said to buy dndq, i posted that their assets were lower than liabilities at the time of filing and that i have no stake and was not going to get into it. i stopped few who told me they were getting into it.
you in bed with lead manipulators? rather being happy vernon closed, you had a scary title :
"Exide Vernon to be permanently shuttered to avoid criminal prosecution!
by big.yank • Mar 12, 2015 10:49 AM "
big yank still here and without a stake in it. lol. still trying to protect the bad guys ? lol
big.yank • 2 hours 11 minutes ago
LME: "Commodities trading desk. How may I help you?"
EX: "Exide Procurement, here. I would like to buy some lead."
LME: "Certainly, sir. How much do you have in mind?"
EX: "Well, with Vernon closed I will need around 800,000 lbs. per day."
LME: "Sorry, Exide, but we don't have that much."
EX: "How much do you have, then?"
LME: "Gee, Exide, I'll have to get back to you on that."
EX: "Can you tell me when that will be?"
LME: "Yes, Exide, I can answer that. It will be when hell freezes over."
But good luck with that litigation, anyway. LOL.
Fictional exchange... or is it just a premonition. Live by the sword/Die by the sword.
Unsecured Creditor's blunder impairs recovery prospects
by big.yank • 4 hours ago
Now that Vernon is being shuttered and the clean up stipulation is triggered, if Exide remains in business it must outsource lead from which to make batteries. This lead will come from the same group that the Creditors insisted be maligned and investigated for illegal price fixing in the metals market. Nothing like having to go to the same parties and beg and grovel for raw materials after throwing the gauntlet down.
lol. big yank writes for the record
"Newly amended Plan favors bondholder parity settlement
big.yank by big.yank• Mar 5, 2015 4:18 PM
It appears a favored status now only exists for the super-priority DIP financiers. It also appears a "deal" is offered up to unsecured creditors with a trust to disburse any settlement from the lead price fixing investigation with a 5 year window and possible 3 year extension.
That stacks the deck for a consensual settlement on March 27th. The tortholders get a small deal and common shareholders get cancelled.