Politics of Energy Message Board

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Politics : Politics of Energy

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To: RetiredNow who wrote (8461)	6/2/2009 11:41:34 AM
From: TimF	Read Replies (1) of 86356

$5.3bil in subordinated obligations shouldn't have gotten them a 55% share of the company. The should get a smaller share per dollar of debt forgiven, than the senior creditors, not a larger share per dollar. The senior creditors had more debt. They did get cash, but even subtracting the case their remaining debt was similar in size to the unions, and senior to it. They should be the majority owners.

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