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Jeff - have a Google on how a C11 works. Look at who gets to vote. Then look at who has security, first liens, etc.

Magmanus - you've turned up late for the party, you wouldn't understand the context of the 'illegal loan' comment.

Magmanus - you're talking nonsense. I've just had a look on IG who are probably the broker offering the nearest thing to a professional trading platform and they don't let you short unless it's using a CFD or a spread bet.

They even go on to say 'The traditional method of shorting stocks involves borrowing shares from someone who already owns them and selling them at the current market price – if there is a fall in the market price, the investor can buy back the shares at a lower price, and profit from the change in value.

This is typically a practice of large institutions rather than individual investors, but some brokers will facilitate short-selling.'

Most US meme investors use Robinhood who also do not offer short selling. So which platforms/brokers allow PIs to execute proper shorts? I'm all ears.

Ian - Any proceeds won't be going to Mooky. The creditors are in charge here. Did you notice the illegal $1bn loan is getting repaid :)

I don’t think many retailers short unless they use CFDs or have very large portfolio. It’s been discussed on here recently but I think it’s mainly used by the more sophisticated professional investors, hedge funds, etc.

Hi Tegop - that’s pretty much it. However the payment plan and the restructure for me are one and the same - the D4E transaction.

It would be helpful if it was how it is for starters ….

I think there was a Bloomberg article or something at the time. Maybe they are still paying 20% but that would be extremely punitive and wouldn’t make any economic sense for CINE. That would be $400m interest PA just on that part of the debt alone.

I think the most important point is that the proceeds are being considered outside the reorganisation so presumably will go into the business for the benefit of the business.

It was compensation for the senior dip lenders as they were obviously not getting the interest on the full $1.9bn, the month or so breathing space allowed more creditors to come forward and join or submit claims. Looks like the judge has made sure landlords are sorted as well. Makes good sense when you think about it as the real estate will drive the business going forward. I must admit I hadn’t considered how much power they have in all of this, even though they are not secured.

Hi Jeff - if I recall correctly the 20% interest was compensation for the $1bn of the DIP not going through in the first instance. Now that it is going through you would expect that rate to come down dramatically.

Magmanus - read the last few bits of this article and educate yourself.

https://www.ft.com/content/d73682bf-a7fc-446e-a2e3-a503fdf56bd0

Magmanus - if I was you I would leave your judgement of the family holdings till after this process is complete and see what % of Newco they end up coming out with while everyone else is left holding the baby.

I suspect you’ll be long gone before then.

They can’t sell the shares anyway as they have been used as collateral for other margin loans higher up in the family structure.

There was an FT (I think) article around the time of the C11 which made references to the filings.

We have discussed the family holdings on a number of occasions so it’s not exactly breaking news.

"there millions trapped in 5-9 range"

And this is based on ......

I would wager the DD you have done on this company could be written in very large writing on a post it note, if the noise you were posting about the accounts is anything to go by.

I'm not entirely sure what you're even going on about here. Plus I'm not a name caller. I'd rather try and take someone on an intellectual level.

If you did some actual research rather than look at your charts you would see that most shorts have actually closed. Short interest down under 2% and I would expect that these have been holding a very long time.

You've piqued my interest so I thought I would look at the brokers recommendations on here. Looks like since the C11 only one that has updated is Jeffries with a hold rating and a price target of £35.

I thinking something must have gone amiss there!

Magnus - serious question, what are you expecting the next RNS to say?

Hi Toptuf - My assumption would be that a major broker would rate this as hold on the assumption that holders have suffered such a drop that you might as well see how it plays out.