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We had all the same arguments with Thomas Cook, Carillion and other companies. People bought in after conducting personal, in-depth financial analysis (“Look at the SP graph! See how far it’s fallen! Look at what I’ll make if it goes back up!” - that was it in total) only to see the SP slide and slide.
For one in particular, that was great news - the more it fell, the more of a bargain he felt it was (in his deluded eyes).
Cineworld doesn’t have a future. True - ordinary cinema customers won’t notice any difference but current shareholders will.
What has a future is you. You’ll learn from your mistakes, dust yourself off and use what you’ve learned with CINE to make a profit on your future investments.
Someone on here told me not to tell them what to do with their money (accompanied by insults, of course). I said I didn’t and it was up to them what they did with it but I wouldn’t touch CINE with a bargepole. Those people got burnt. They chose to get burnt. They can learn from it or not.
I may be wrong but does it state in the revised 4th plan that unsecured creditors gets equity in the new co?
This comment could break the internet.
Wipe out all debt but let the shareholders remain intact. Ha ha ha Mr Kioto
Mr Kioto - the shareholder committee should have been established in the Autumn while all the negotiations were going on. The problem was at the time of peak importance Patience and Co had their heads in the sand and were filtering everyone who wasn't smoking hopium.
Because the Bankruptcy Judge Has Given Cineworld More Than Enough Time in Chapter 11 Bankruptcy Protection to Get Back on it’s Feet.
Lastly it’s Not the Judge Fault That Cineworld is in the Mess it is is it.
Who takes the hit for the debt write down though? Someone has to pay the price and that's the risk you take on when you buy your share.
Answer me this - why should shareholders receive something while unsecured creditors get cents on the dollar?
Cheeky sod ... I'm much younger than 58 I'll have you know!
Reports that a single, 58 year old man watching barbie 8 times a day at cineworld plymouth, buying popcorn and haribos before each viewing to try and recover cine's profits.
Wolfie.... was that you ?
:-)
And also to mention in its current state it may be "hopelessly insolvent" as the money coming in cant float/cover all of the current operating costs, plus the debt.
But very hard to understand why a deal could not be structured that allows for the debt to be written off and the shareholders stay on in some capacity.
Once the debt write-down happens, pretty sure the revenues coming will be enough to cover all operating cost, AND the new lowered restructured debt.
Dean, how in the world did the judge try to protect the shareholders? Protecting us would have been to allow us to have a shareholders committee and to at least let us get a third party valuation. This did not happen.
All the money going out to lawyers and to pay Mooky and BOD the 32 million??? This does not make any scene. Lets hope the legal challenges gets launched soon in the UK courts, and lets hope for some kind of remedy.
The Difference is Thomas Cook and Debenhams Didn’t Have a Future.
The Truth is Cineworld Does Have a Future.
Cineworld Stock is Now on it’s Very Last Legs But Their is Still Hope.
August 2nd is Going to be a Big Day.
Lastly in all Fairness to the Bankruptcy Judge Has Tried to Protect Shareholders to be Honest.
However the Next Couple of Weeks Will Be When We Know if Cineworld Stock Has a Future.
Not sure what your estimate is based on as seems high to say the least but in any event neither the cinema industry nor the company are what they were back then so it's not really relevant.
Writing off £4.5b but acquiring a £15b company pre pandemic (estimate) sounds like a steal
It has $11bn of liabilities and only $7bn of assets. Sounds pretty insolvent to me. On the starting up again bit you fail to mention that part of this is writing off $4.5bn of debt plus a lot of the other liabilities will also disappear - hence it restarts in a solvent position. Without that write-off of liabilities and the injection of funds made by the lenders it would have been dead and buried already. So hard to imagine how any judge, wherever they are from, disagreeing.
He says hopelessly insolvent, but then again they start up again and carry on as usual doesn’t sound like an insolvent company to me. Be interesting to hear if a British judge will also call it hopelessly insolvent
Aye me tae boss
It seems that way TPT'' as there was a stipulation document filed by CINE yesterday looking for a relief from Stay, also look like there is a claim for $300k and they are getting desperate to squash it, FK knows what it's all about ? yet again we see small stake holder fighting hard to keep them in C11 until everyone get paid what they are owed, before any steal take place
but yes I'm also hoping that we leave JULY INTACT and the next update is more humble
REGARDS
It pains me to say but there is no hope. Granted this past weekend it was full but I went to the dome in Greenwich on the first weekend of Indiana Jones and there was just 20/30 people there. The debit is so high we would need the cinema filled all the time and that is just not happening.
Once Cineworld goes into Chapter 11 then all shareholders get nothing as there will be nothing left. Sorry but fact. I've had a similar thing with Debenhams and Thomas Cook.
Sorry MIKODX but I'd rather believe the balance sheet and the words of Judge Marvin. It's the very mountain of debt that you mention that makes them 'hopelessly insolvent' - to quote the judge.
I disagree, Cineworld are a very solvent company, it’s just that they have a mountain of debt, and the debtors want their money now. If debtors are willing to hold off longer, Cineworld could turn this around. Maybe this is what the UK administration are seeing. Fingers crossed.
The Truth is August is Going to be the Month For the Future For Cineworld Stock.
If They Keeping the Name Cineworld With Their New Company then their is Still Hope Just.
So is that rite enuf were making it thru july , this excites me something could still come out this a keep telling maself its going on an On an on surely the longer the better
Brilliant ! Ha ha ha
haha brilliant mate some amount of ****e on here but a like that one very well put