[size=+2]The Death of Socrates[/size]
[size=+2]won't happen..[/size]
they got enough votes for a pre-packaged bankruptcy
not liquidation
That means absolutely nothing. The judge will decide if their plan is feasible under a Chapt 11 and if he doesn't think it is then he will force them to liquidate.
That means absolutely nothing. The judge will decide if their plan is feasible under a Chapt 11 and if he doesn't think it is then he will force them to liquidate.
As of 5:00 p.m., New York City time, on December 23, 2009, 53% of the 8 1/2% Notes and 90% of the aggregate principal amount of the 5.0% and 3.375% Notes had been tendered into the exchange offers,
representing 80% of the company's outstanding notes.
I'm thinking the fact they got 80% of bonds tendered maybe more..something could be worked out with bondholders before they file a pre-packaged C-11. That could take only a month. YRC is worth more alive then dead to JP Morgan who might give YRC more time. That's all they need is more time
Is the date for the bondholders still on the 28th or has it been extended until the 30th?....................:TR10driving03:
Merry Christmas to all the laid off workers from Fed Ex , UPS Freight and all the other freight cos. Oh , and the very few YRC workers here too ! And Happy New Year !