They don't have a document to prove it. The DTC supposedly have documents that gives them the rights to remove the bonds. Which is strange since the court disagrees. If the bonds were removed to gather an inventory count for future distribution, it is a clever way of doing it but illegal and dangerous as well.
Mister con man speaks again. You want to hazard a guess why they are still listed on Finra? They received no order to remove the bonds from their website. Based on common sense, which you have none, you can deduce that the removal of bonds were done for accounting purposes only.
Susan, you are correct. Unless there is some court docs floating around that we don't know of, it is illegal to remove the bonds while the bankruptcy is going on. Keep in mind that they are still listed on Finra.
Does anybody not find it strange that the bonds were removed while the bankruptcy is still going on? Something my broker found very unusual. They are still listed on Finra. The shares still trade. You can't even find who the transfer agent is. Why the cloak of secrecy?
I agree totally. Recalling the bonds and deeming them worthless kills two birds with one stone. An inventory count is easily attained and used as a barometer for a debt for equity swap. I'm sure that was Cooley's intentions back in 2012.