why would the creditors owed large sums not just buy out the...

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Hanison

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13/12/19

11:52

Post #: 41952328
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Originally posted by Rob826: ↑

The other creditors won’t “call bullshit” unfortunately. The DOCA vote is a numbers game and CHEL/Liatam have easily done enough to sway the majority of the votes in their favour.

As I understand it (and correct me if I’m wrong), but each creditor has a vote, regardless of the $ value that they are owed. 120 of the 218 votes are attributed to Class D creditors, who are owed less than $10k each.

Under the terms of the CHEL/Liatam DOCA proposal, those class D creditors get a 100% return. Why would the class D creditors vote no, when they are getting exactly what they’re asking for? There is nothing to be gained for this group by going into liquidation, quite the opposite actually.

The class D creditors hold the majority as they make up in excess of 50% of the vote; therefore, it’s irrelevant what the rest of the creditors think, and is probably why those larger creditors won’t be getting anything close to a full return, because they still only have one vote.

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why would the creditors owed large sums not just buy out the class D guys owed 10k or less in full or even at a premium in order for their assured votes.

I mean, besides the blatantly obvious legality of such a stunt. pushing moral and ethical obligations aside. because well how did we get here and now to begin with if not for malevolence, under the table and brown paper bag deals.

why would these entities not buy out such pathetic sums in the grand scheme for the chance at great glory themselves.

It seems preposterous that less than 10k creditors hold the balance of power.

A40 Price at posting: 8.2¢ Sentiment: None Disclosure: Held
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why would the creditors owed large sums not just buy out the...

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