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To: Savant who wrote (8839)12/31/1999 10:51:00 AM
From: LLCF  Respond to of 18366
 
< The new Plan is proposed as a cramdown on unsecured creditors and shareholders.">

Cramdown is forcing the unsecured creditors to forego interest payments [or other devaluation of their paper] with the hope of getting their principal back. They accept this in lui of liquidation in which they may get nada.

DAK


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