Greater Fool

$MSTR must post collateral on the Silvergate loan if Bitcoin $21,062 or below. Reference price is bitcoin index on tradeblock.com tested daily at 1 pm PST. That price yesterday was $20,830. They have 24 hrs to post additional collateral. Are we going to see an 8K today?

RIP $CHKAQ

$CBL Management gets 10% of new equity...bankruptcy bonanza.

If there was any doubt...$CHK equity holders get $0 according to the RSA.

$JCP In case there was any doubt.

So people didn't know $CHK was going bankrupt?

$CHK equity market cap is $200 mm while the bonds trade at $5. Equity mkt cap > total mkt value of bonds ($3.5 B par value). Can somebody remind me how bankruptcy works? Is equity senior to debt?

$WLL has coupon payment due Monday. Bonds are trading at $18. There is a good chance they skip it. Good luck to those buying the convert due April 1 in the $60s.

What companies will be next to file Chap 11? $UNT and $SSI are good candidates.

$LBY This company has hired restructuring advisors and will get a going concern qualification in the 10K. None of this is disclosed in the earnings release. Will they address these issues on the conf call?

bye bye $PIR

$MDR So they don't actually have a forbearance from bondholders, they have defaulted, and ~$22 mm mkt value of bonds can accelerate at any time...

$MDR bonds trade at $9. $395 mm preferred that is senior to the common. Equity value is currently $160 mm. That's what you call a disconnect.

$MDR Was the coupon on the unsecureds paid? I don't think it was. How about an 8K? Seems material to me.

$MDR financing contingent on 95% of unsecured to exchange into PIK notes? Why exactly would they do that? So they really got only $650 mm of financing and still likely to be in bk by end of the year.

Bankruptcy imminent for $AMR and $AREX. Both have bond coupons due Monday.