Read the details of $NOVC Board deal with Note Holders Fortress/EJF Capital and ask whos interest w | NOVC Message Board Posts


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Msg  157403 of 157610  at  8/15/2022 3:33:11 PM  by

n-tres-ted


 In response to msg 157399 by  poolblue3
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Re: Read the details of $NOVC Board deal with Note Holders Fortress/EJF Capital and ask whos interest were they serving. It was not common shareholders?

Seems to me the Senior Debt should have been expunged in the Chapter 11. The Senior Debt holders could have participated by purchasing common at the low market price available to them and the rest of the market on an even playing field. You've pointed out that the Senior Debt was purchased at a steep discount anyway; so why give the holders both survival of Chapter 11 and a giant profit on their purchase of the Senior Debt? As I recall, you've suggested the answer in the past: payback for crucial assistance in the takeover and turnaround of DX. Thanks again. JMOO


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Msg # Subject Author Recs Date Posted
157404 Re: Read the details of $NOVC Board deal with Note Holders Fortress/EJF Capital and ask whos interest were they serving. It was not common shareholders? poolblue3 4 8/15/2022 7:52:40 PM




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