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eröffnet am 08.05.09 11:47:13 von
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****Shearson Financial Network Inc. Emerges From Bankruptcy****
SAN FRANCISCO, May 7, 2009 /PRNewswire-FirstCall via COMTEX/ -- Shearson Financial Network Inc., a financial services holding company that conducted diversified mortgage banking and brokering operations (Pink Sheets: SHSNQ), announced today that it successfully emerged from bankruptcy on May 7, 2009. On February 25, 2009 the United States Bankruptcy Court "Confirmed" Shearson's First Amended Joint Plan of Reorganization.
Mr. Harry R. Kraatz, the newly appointed Chairman and Chief Executive Officer of Shearson, stated that, "The Plan was overwhelmingly supported by the Company's creditors and it represented a comprehensive and fair proposal for the treatment of outstanding claims. No objection to confirmation of the Plan was made."
Greg Garman, bankruptcy counsel with the law firm of Gordon Silver said, "In these challenging times it was encouraging to work with Shearson and its creditors to get the company restructured and out of bankruptcy within a matter of months."
Shearson Financial Network Inc. is a financial services holding company that conducted diversified mortgage banking and brokering operations and is a provider of both traditional and online mortgage services to a diversified customer base consisting of mortgage lenders, mortgage brokers, real estate agents and consumers.
SAN FRANCISCO, May 7, 2009 /PRNewswire-FirstCall via COMTEX/ -- Shearson Financial Network Inc., a financial services holding company that conducted diversified mortgage banking and brokering operations (Pink Sheets: SHSNQ), announced today that it successfully emerged from bankruptcy on May 7, 2009. On February 25, 2009 the United States Bankruptcy Court "Confirmed" Shearson's First Amended Joint Plan of Reorganization.
Mr. Harry R. Kraatz, the newly appointed Chairman and Chief Executive Officer of Shearson, stated that, "The Plan was overwhelmingly supported by the Company's creditors and it represented a comprehensive and fair proposal for the treatment of outstanding claims. No objection to confirmation of the Plan was made."
Greg Garman, bankruptcy counsel with the law firm of Gordon Silver said, "In these challenging times it was encouraging to work with Shearson and its creditors to get the company restructured and out of bankruptcy within a matter of months."
Shearson Financial Network Inc. is a financial services holding company that conducted diversified mortgage banking and brokering operations and is a provider of both traditional and online mortgage services to a diversified customer base consisting of mortgage lenders, mortgage brokers, real estate agents and consumers.
Antwort auf Beitrag Nr.: 37.127.800 von Schnatzi am 08.05.09 11:47:13Tja, das weiß wohl niemand so genau. Wird auf jedenfall mega spannend. Bin gestern kurz vor Schluss mal rein...
Shearson Financial Network (SHSNQ) SHSNQ Quote - News - Chart
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Posted by: littlejohn Date: Friday, May 08, 2009 1:28:52 AM
In reply to: zardiw who wrote msg# 16325 Post # of 16476 [Send a link via email]
Post #16428,,,page 21 of 36,,,4.7 Class 7 - Equity Securities.
On the Effective Date, other than the NIR Debentures, the Equity Securities of the Debtor shall be cancelled and holders of Equity Securities shall recieve nothing.
Nothing new with this Bk re-emerging from what normally occurs...LJ
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Posted by: littlejohn Date: Friday, May 08, 2009 1:28:52 AM
In reply to: zardiw who wrote msg# 16325 Post # of 16476 [Send a link via email]
Post #16428,,,page 21 of 36,,,4.7 Class 7 - Equity Securities.
On the Effective Date, other than the NIR Debentures, the Equity Securities of the Debtor shall be cancelled and holders of Equity Securities shall recieve nothing.
Nothing new with this Bk re-emerging from what normally occurs...LJ
Extremste Vorsicht ist geboten!!!
Shearson Financial Network (SHSNQ) SHSNQ Quote - News - Chart
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Posted by: Helper Date: Friday, May 08, 2009 12:42:22 AM
In reply to: ABIGHAMMER who wrote msg# 16454 Post # of 16476 [Send a link via email]
Read the report KingVegita2006 just downloaded. The part about Class 7, current shares. It states that the shares will be cancelled without compensation. I like to say i'm wrong, but I don't think so.....
Shearson Financial Network (SHSNQ) SHSNQ Quote - News - Chart
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Posted by: Helper Date: Friday, May 08, 2009 12:42:22 AM
In reply to: ABIGHAMMER who wrote msg# 16454 Post # of 16476 [Send a link via email]
Read the report KingVegita2006 just downloaded. The part about Class 7, current shares. It states that the shares will be cancelled without compensation. I like to say i'm wrong, but I don't think so.....
Antwort auf Beitrag Nr.: 37.128.878 von Wallgrekk am 08.05.09 13:23:49Und ich wollte heute noch meine Order zu 0,007 stornieren! Zum Glück bin ich nicht mehr dazu gekommen!
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Antwort auf Beitrag Nr.: 37.132.103 von CrazyHorse83 am 08.05.09 17:56:32Akt. -65%!
Ich hoffe hier hat sich keiner die Finger verbrannt!
Ich hoffe hier hat sich keiner die Finger verbrannt!
Antwort auf Beitrag Nr.: 37.148.163 von Wallgrekk am 11.05.09 20:42:29Nicht wirklich, bei 0,007 eingestiegen und am selben Tag mit 0,032 ausgestiegen.
Hab mich schon schlimmer verbrannt.
Hab mich schon schlimmer verbrannt.
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