Corts Trust JC Penney (CE) (COTRP) Quote

No distribution. Clear as a bell. The End.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173676249

Is this thing over??? Is there any hope for anything??

Are you saying yours are back?

Will back with New Tickets......😍

YW - while I was hoping for something, I am not surprised. Too many claims against the estate, too little cash. I do not have the expertise to try to pursue this any further, though I should probably try to drop a line with the U.S. Trustee, just because. But in my mind, its over.

Thanks brother for your insight I appreciate it

I always have used the date the shares were removed (declared worthless) as the transaction date.

Oh weird all three of mine got deleted this Friday that past so wierd. I’m guessing this is it or is there still some hope? I’m wondering if we ask our brokers to re-enstate our shares at least for a tax loss

Same here (Fidelity). No distribution. COTRP went away for me on Jan 30, CBTRP on Jan 18. CBJCL was gone last year, but I don't have the date.

Yup. Mine disappeared from Etrade…

Hey guys I just noticed all my shares have disappeared out of my account. Has everyone had the same thing happen? I guess that’s it’s we lost?

Looks like they deleted all JCP bonds.

That’s why I had to call Albert Einstein on his bullshit 7.625

That’s why I had to call Albert Einstein on his bullshit 7.625

COTRP will return to the market when the bankruptcy case is over. IMO

COTRP participates in profit sharing with Class 7. Class 7 got zero so we get zero. I'm over it, guys.

The End.

Cs , has taken cotrp off my portfolio

12:44
X
• JCP - Notice o....
The ANMAP for fiscal year 2022 was approximately $289,660,000. The FY22 Earnout Base is calculated by subtracting the ANMAP for fiscal year 2021 from the ANMAP for fiscal year 2022.
Thus, the FY22 Earnout Base equals approximately negative $5,770,000
[$289,660,000 - $295,440,000]. The FY22 Earnout is calculated at 20% of the FY22 Earnout
Case 20-20184 Document 1245 Filed in TXSB on 11/17/23 Page 8 of 19
Base, which means the FY22 Earnout is approximately negative $1,150,000. Pursuant to section 4(d) of the Earnout Agreement, the FY22 Earnout equals zero for purposes of OpCo's payment if the calculation equals an amount is less than zero.
$110,000,000
$140,000,000
$0
Classes 6, 7, and 8 receive 50% of any amounts payable in this range.
$56,540,000
The sum of the FY21 Earnout plus the FY22 Earnout is approximately $56,540,000, which is $57,690,000 minus $1,150,000. Because the sum of the FY21 Earnout and the FY22 Earnout is less than $110,000,000, the Unsecured Claims Earnout Pool cannot be funded.
Therefore, the amount of the Unsecured Claims Earnout Pool is zero and Classes 6, 7, and 8 will not receive any distribution from the Unsecured Claims Barnout Pool. This means that Class 8 General Unsecured Claims, which cannot recover from the Wind-Down Reserve either, will not receive any distribution.
IV.
Conclusion
Class 4 Claims:
Class 4 Claims were Allowed in an aggregate total of
$1,571,414,062.50. The Wind-Down Debtors estimate that after all estate expenses are paid, the Wind-Down Reserve will contain a remainder balance between $0 and $29,000,000. Any further distribution to holds of Claims in Class 4 will constitute the entirety of the Wind-Down Reserve and will not pay Class 4 Claims in full.
Class 6 Claims:
Because Class 4 Claims cannot be paid in full, Class 6 Claims will
not be paid any funds from the Wind-Down Reserve. Because the sum of the FY21 Earnout plus the FY22 Earnout (the "Earnout Calculation) does not exceed $110,000,000.00, the Plan provides that the Unsecured Claims Earnout Pool cannot be funded. Therefore, Class 6 Claims will not receive any funds from the Unsecured Claims Earnout Pool. Holders of Class 6 Claims will receive no further recovery under the Plan.
Class 7 Claims:
Because Class 4 Claims cannot be paid in full, Class 7 Claims will
not be paid any funds from the Wind-Down Reserve. Because the Earnout Calculation does not exceed $110,000,000, the Plan provides that the Unsecured Claims Earnout Pool cannot be funded.
Therefore, Class 7 Claims will not receive any funds from the Unsecured Claims Earnout Pool.
Holders of Class 7 Claims will receive no further recovery under the Plan.
Class 8 Claims:
Because Class 4 Claims cannot be paid in full, Class 8 Claims will
not be paid any funds from the Wind-Down Reserve. Because the Earnout Calculation does not exceed $110,000,000, the Plan provides that the Unsecured Claims Earnout Pool cannot be funded.
Therefore, Class 8 Claims will not receive any funds from the Unsecured Claims Earnout Pool.

12:44
X
• JCP - Notice o....
The ANMAP for fiscal year 2022 was approximately $289,660,000. The FY22 Earnout Base is calculated by subtracting the ANMAP for fiscal year 2021 from the ANMAP for fiscal year 2022.
Thus, the FY22 Earnout Base equals approximately negative $5,770,000
[$289,660,000 - $295,440,000]. The FY22 Earnout is calculated at 20% of the FY22 Earnout
Case 20-20184 Document 1245 Filed in TXSB on 11/17/23 Page 8 of 19
Base, which means the FY22 Earnout is approximately negative $1,150,000. Pursuant to section 4(d) of the Earnout Agreement, the FY22 Earnout equals zero for purposes of OpCo's payment if the calculation equals an amount is less than zero.
$110,000,000
$140,000,000
$0
Classes 6, 7, and 8 receive 50% of any amounts payable in this range.
$56,540,000
The sum of the FY21 Earnout plus the FY22 Earnout is approximately $56,540,000, which is $57,690,000 minus $1,150,000. Because the sum of the FY21 Earnout and the FY22 Earnout is less than $110,000,000, the Unsecured Claims Earnout Pool cannot be funded.
Therefore, the amount of the Unsecured Claims Earnout Pool is zero and Classes 6, 7, and 8 will not receive any distribution from the Unsecured Claims Barnout Pool. This means that Class 8 General Unsecured Claims, which cannot recover from the Wind-Down Reserve either, will not receive any distribution.
IV.
Conclusion
Class 4 Claims:
Class 4 Claims were Allowed in an aggregate total of
$1,571,414,062.50. The Wind-Down Debtors estimate that after all estate expenses are paid, the Wind-Down Reserve will contain a remainder balance between $0 and $29,000,000. Any further distribution to holds of Claims in Class 4 will constitute the entirety of the Wind-Down Reserve and will not pay Class 4 Claims in full.
Class 6 Claims:
Because Class 4 Claims cannot be paid in full, Class 6 Claims will
not be paid any funds from the Wind-Down Reserve. Because the sum of the FY21 Earnout plus the FY22 Earnout (the "Earnout Calculation) does not exceed $110,000,000.00, the Plan provides that the Unsecured Claims Earnout Pool cannot be funded. Therefore, Class 6 Claims will not receive any funds from the Unsecured Claims Earnout Pool. Holders of Class 6 Claims will receive no further recovery under the Plan.
Class 7 Claims:
Because Class 4 Claims cannot be paid in full, Class 7 Claims will
not be paid any funds from the Wind-Down Reserve. Because the Earnout Calculation does not exceed $110,000,000, the Plan provides that the Unsecured Claims Earnout Pool cannot be funded.
Therefore, Class 7 Claims will not receive any funds from the Unsecured Claims Earnout Pool.
Holders of Class 7 Claims will receive no further recovery under the Plan.
Class 8 Claims:
Because Class 4 Claims cannot be paid in full, Class 8 Claims will
not be paid any funds from the Wind-Down Reserve. Because the Earnout Calculation does not exceed $110,000,000, the Plan provides that the Unsecured Claims Earnout Pool cannot be funded.
Therefore, Class 8 Claims will not receive any funds from the Unsecured Claims Earnout Pool.

Something happened.............!?!?!?!?!?!?

It should have said can’t!!!!

I look this morning at OTCMARKETS.COM and you can search for COTRP, CBTRP, or CBJCL?????

I look this morning at OTCMARKETS.COM and you can search for COTRP, CBTRP, or CBJCL?????

Sir, I’m not going to show my account here. Time will tell.

Show proof or your just full of shit!!! Because what are the odds they would pay the exact number tthe interest rate of the the securities is????

I did nothing.

We all get a prorated fraction . . . except you.

Hahaha … I’m the only one hahaha

LOL oh I see . . .

In my Charles Schwab migrated account from TD.

Where on there web site did you find this information???

YES!!

7.625 payment on my shares. Things look good.

They told me they were removed, because they are worthless securities.

Yeah there’s something going on. I called and was told they will reappear soon. I wanted to move my shares to Roth but they won’t allow.

I just looked. My shares of CBTRP disappeared yesterday!!!

I just looked. My shares of CBTRP disappeared yesterday!!!

So we're going to collect all the backdated interest? Whee?

So what is it showing?

Interesting

What my CS account is showing
for 2024 estimated income

My only holdings in that account (migrated from TD) is COTRP and CBJCL shares

Fingers crossed for 2024 with my 7068 tickets

At least . . .

COTRP
Shares outstanding 4,000,000
Current coupon rate 7.625
Cumulative dividend No
Face (par) value $25.00
Maturity date Mar-01-2097
Company Profile : Citigroup Inc.
Sector Financials
Industry Banks
Company Location New York, NY
WOW

But do we have to now wait until February?

I think the deadline to file claims (against the estate, meaning you and me) has passed. Deadline for the estate (you and me) to file objections to those claims against us has been extended. We aren't the ones filing claims. We are the estate. We hold the debt.

I think we’re already in the money and they need more claims.

Yes - the more objections to claims, and the more the claims are disallowed or whittled down, the better our chances of getting a taste of cash, or more cash if we are already in the money.

I see this as a positive.

Thanks for posting - it ain't over yet.