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Gold/Mining/Energy : ATPG Shareholders -- Ignore unavailable to you. Want to Upgrade?

To: billgatesisevil who wrote (141)8/29/2012 10:36:03 AM
From: mrpanick  Read Replies (1) | Respond to of 3620
 
Not exactly. The DIP typically gets refinanced when they emerge from bankruptcy. The lawyers get paid using the company's cash on hand (including cash from the DIP). The bankruptcy will probably drag on for a couple of years. Once the court approves lawyers to represent an EQ, the company pays them monthly (subject to court approval). The lawyers get paid first - before bondholders, stockholders, some vendors, other creditors or even the DIP.



To: billgatesisevil who wrote (141)8/29/2012 2:31:11 PM
From: kollmhn  Read Replies (1) | Respond to of 3620
 
Bill-
"Understand that the DIP facility has priority even over the lawyers. It must be payed back before anyone gets a dime."

You need to familiarize yourself with Chapter 11 before making any more flat-out wrong comments like that one.


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