Any class 1 claimants don't have to vote. They are assumed to vote Yes. How about the class 2 through 8 claimants. If you vote Yes, pennies on the dollar. Vote No, and blithe if there are not enough funds. Anyone out there rolling the dice on a full payoff?
Probably not. Any protected Class 1 priority claims will get paid soon.
BK protection laws protect for preposition wages are class 1. Good luck. The court has to rule, then checks go out shortly thereafter for class 1 priority claims.
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Doesn’t matter if it gets confirmed or not. As of July 1, SHLDQ was projecting average recovery for unsecured creditors @ 2.3-2.7%. Oldco is straight up broke. They’ve spent everything on attorneys.
wont pay after class one-and that is Eddie and his band of theives
Reply:
What's the outcome? What happens if they vote yes or no? Does it really matter?
Answer:
No one is sure. Even with BK rules some limited priority class 1 claims may be at risk to a degree.
That wind down account will only be able to pay out what the court holds old Sears to. If Draino gets this done right, then there will be full compensation for limited class one 401A claims. Class 2-5 claims are not likely to see much. Kind of a wait and see thing.
What's the outcome? What happens if they vote yes or no? Does it really matter?
All Class 9 (Common Shareholders) voted against the plan
All Class 8 (Subordinated Securities holders) voted against the plan.
All Class 7 (Holders of Intercompany Interests) voted against the plan
All Class 6 (Holders of Intercompany Claims_ voted against the plan.
- All by default as none of the above would receive assets of any kind if the plan is accepted,
Remaining classes can vote for or against the plan.
I don't know why anyone thinks there will be much recovery passed some limited class 1/