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Asset Recovery
Hi Nobody,
At this point, I don't really see a distinction between original bondholders and bondholders who purchased the bond from an original bondholder. The fact is, the bond has gone bust. Before it went bust, those who sold the bond already recovered what cash they could through the sale of the bond. Right now, it is time for remaining original bondholders and bond purchasers to come together so those still stuck with this junk bond can recover what cash they can before the situation gets worse. As bad as it may seem right now, there is still MORE pain in store for all bondholders if we fail to act to recover our property (L$, stocks, land) RIGHT NOW.
As I write this, at least one individual who is in possession of a portion our property (stocks) is posturing publicly about converting our property into a "fund". It is critical that we as bondholders not allow this. If this effort succeeds, the paper trail will be one notch more convoluted, where first people had a "depost", which was turned into a "bond" and subsequently a "fund", but there will STILL be NO MONEY, just more confusion.
What all bond holders, original or purchaser, need to understand, is that we need to recover our property RIGHT NOW so we can liquidate it and recover what CASH we can, before this situation gets any more convoluted and we are yet another step separated from our actual CASH. If we fail to act RIGHT NOW, there will be NO CASH. There will only be a strange "fund" providing more confusion and no liquidation.
I only hope that I can help to prevent all bondholders from realizing farther losses. As the majority bondholder, it is in MY best interest to act in EVERYONE'S best interest. I can assure you that I am not favoring any particular "sub-group" of bondholders (original or purchaser) though. I am interested in ensuring that ALL bondholders are able to recover what cash they can before this situation gets worse.
Regards,
Shaun Altman