The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Shareholders are a lower class but looking up that statement, it reveals:
Section 1129(a)(8) of the Bankruptcy Code requires that, for a chapter 11 plan to be confirmable, each class of claims or interests must either accept the plan or not be "impaired." However, "cramdown" confirmation is possible in the absence of plan acceptance by impaired classes under section 1129(b)(1), which provides as follows:
Notwithstanding section 510(a) of this title, if all of the applicable requirements of subsection (a) of this section other than paragraph (8) are met with respect to a plan, the court, on request of the proponent under the plan, shall confirm the plan notwithstanding the requirements of such paragraph if the plan does not discriminate unfairly, and is fair and equitable, with respect to each class of claims or interests that is impaired under, and has not accepted, the plan.
Let's see what the judge says.
@Patiencebringsit, is there any more update from you legal team appointed?
Alan, re-read what you wrote and you will find it is you who is dense.
Those who have sold on news are gone, those who remain are likely prepared to go down with the ship as their remaining shares and value is significantly down.
There is a reason this BB is quiet and most valuable commentators have gone to discord or telegram groups.
This is now an eco chamber.
No one is ramping only those left are altruistic investors wanting to warn others lol
Of course you are here for humour value. Most if not all retail investors who were going have gone. Those remaining have written the stock off, or waiting for the balance of the process to follow through.
Alboumphoto is the self appointed running commentator, set about to convince the small remaining investors who have written off their investment to sell?
They need US judge to approve restructuring plan and the matter of moving U.K. assets out of a plc and closing it, isn’t a simple task.
I am expecting arbitration and this to run out for some months.
Ah, the old, “let’s feign outrage and blame to push more sells” playbook.
Problem is, stock is already beaten, all the news is factored and Bonkers is long gone and didn’t hold a gun to anyone’s head asking them to invest.
This is a play for trading for the short term so it will be bought up.
“… it is expected that, as part of the completion steps for the Proposed Restructuring and shortly prior to the Group Chapter 11 Companies' emergence from their Chapter 11 cases, the board of directors of Cineworld Group plc (the "Board") will apply to the court in England for an administration order in respect of Cineworld Group plc.”
Let us see how easy they believe they can do that, without any objection/arbitration.
You are quite a piece of work, Elvis (whatever your real name is).
You have been playing this forum as either a contrarian with a positive angle one minute and then a pessimist the other.
It is clear you are either working within a boiler room with other traders or independently but your goal is to attempt to shift the sentiment to support whatever swing trades you are undertaking at a given time.
What makes your post most sickening is you will happily advertise the downfall of an investor to feign sympathy when really you will want to use it to stir up panic. The share price is decimated and the outcome for shareholders now lies with the judge and the plan.
If you have any decency, you will refrain from using another investors downfall for your manipulative posts.
Whoever that investor in that letter is, I wish them the very best and that they make their losses back through other investments.
Well done trading this, poor.
All these new posters expressing concern for others is touching though :-)
Well done to Patience and the team for their first attempt. Now they will formulate a counter and submit that to the courts.
Also very touching to see so many concerned for other peoples money.
Good bye, Mountainous - may have decided to go down with the ship or await the formal decision on the RSA from the judge.
As others have said, they are down 99%, what is the point selling for the final 1% now.
Glad this has been reported - it is a proposed payout, it is not confirmed, but it supports what private investors have stated, there was an incentive for the Board of Directors to capitulate and allow the lenders to take this company with a proposed RSA that wiped loyal shareholders out.
Let us see what the response is from the judge.
Of course the assets would be valued at < $1bn under liquidation, there are hardly any tangible ones as the property is leased and the company derives the historic small profit from providing an experience and service.
This does not discount the objection in my opinion from the shareholders committee who want to use more data (when it becomes available) to factor future earnings to derive an alternative valuation.
The market cap is already decimated and the U.K. plc going through administration was expected as it was stripped off assets. It is still all about the judge and the Restructuring Plan.
Well done, Patience and best of luck.
Great to read how the arbitration will be funded.
What a fantastic letter.
An Enterprise value/EBITDA of $13bn to $17bn with comparable data, even citing Cineworld’s own projections prior to chapter 11 has set the cat amongst the pigeons.
Well done, Patience!
Right.
Only in the industry, it is accepted that the first 30-45 days yield 80-90% of a movies earnings for theaters.
Any time beyond that will merely hold up screens for other movies and yield low admissions because they have been enjoyed by patrons.
The box office numbers also reveal this with diminishing returns after 40 days as exhibited in the domestic take.
https://www.boxofficemojo.com/release/rl1930593025
The information is out there for you to do your own research and retrieve this. I need not remind you only funds with an allocation greater than 0.5% are publicly listed.
Good luck to those who remain invested and hold onto their stock to the end.
“The short interest in CW started growing heavily from the Regal Acquisition. So the main institutional shorts have possibly been here for years.
Do you really think at this point there are worried about being burned, squeezed, etc.”
Do you really believe what you have typed here?
Positions can open and close within a matter of days, weeks, months.
There have been a dozen funds with positions over the years with some funds taking recent positions.
Your commentary is frankly banal and you offer no real insight other than regurgitating the same day in, day out.
I have not claimed Poor as a buddy or dear friend. Poor is someone with an actual position be it negative or positive, he is open and transparent rather than someone who seeks refuge in a BB with no position because they have nothing else going on in their lives, or contrary to that have a position just too cowardice to speak up about it.
Imagine, being someone who claims to have no position in a stock, live on the board of the stock, regurgitating the same message and risks which can easily be retrieved from the RNS, to have the audacity to call someone with an actual position, a plonker.
If there were prizes for plonkers, first, second and third prize would go to one poster alone.