| | | " The buyer, presumably staffed by primarily former ATP personnel, will run the company and operate the assets."
I'm with you on that, assuming the sale is approved.
I'm really wondering what happens to the selling debtor. In other words, whether a trustee will be appointed by the court to collect the table scraps, pay administrative claims, press for some kind of a recovery settlement from BP, and eventually turn out the lights.
With the bonds selling at 0.5 (that is, $5.00 per $1,000 bond), even a small recovery beyond the DIP lenders' claims could be significant for us schleps who own the bonds. |
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