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$Fisker (FSRNQ.US)$ Good News! Plan Approved CHP-11 is the ...
Good News!
Plan Approved
CHP-11 is the outcome
No Share Cancellation - Yet
Share Holders are not considered to have approved the plan by simply not returning an Opt-In/Out form.
The judge basically reasserted is position yesterday that a party (Share Holders) who did not return an Opt-Out form is NOT deemed to have accepted the 3rd party release. In his words: "A bridge too far" for people who essentially get no benefit from the Plan.
Plan Approved
CHP-11 is the outcome
No Share Cancellation - Yet
Share Holders are not considered to have approved the plan by simply not returning an Opt-In/Out form.
The judge basically reasserted is position yesterday that a party (Share Holders) who did not return an Opt-Out form is NOT deemed to have accepted the 3rd party release. In his words: "A bridge too far" for people who essentially get no benefit from the Plan.
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知足不能常乐 : Good news? Can you explain it?
Greener OP : it means they are about to come back dept free and stronger than ever with 3 more EV's lined up to produce. sounds bullish to me. very few companies ever come back from bankruptcy. Chrysler, general motors, Apple, Kellogg's, and marvel entertainment are to name a few. all extremely strong
companies. most companies that do survive are bought out of bankruptcy. rarely did they emerge as the same company. now they're free of heights Capital the toxic lender. they can do what they want without the constraints of a financial institution with the only intention to short the stock and run the company out of business. 
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73229593 : I said no,
Greener OP 73229593 : from the sounds of it. the way the judge may order it won't matter either way.
Nevergiveuptowin Greener OP : so does the opt out matter at all ? because I didn't get any. hope they come back
Greener OP Nevergiveuptowin : the judges exact words were "it's a bridge too far". his biggest concern is the people who sold their shares weren't allowed to vote. the way Fisker had it set up if you didn't vote you were automatically opted in. that would release Fisker and Capitol Heights from any future litigation for wrongdoing or failure to abide by their investors fiduciary rights. therefore the judge may make it to where if you didn't or couldn't vote you're automatically opted out allowing you to take future litigation or seek damages. the beauty of all this is. Fisker and Capitol Heights are obligated to make this stock go up to mitigate investors damages. if the stock recovers it will lessen or even fully remove damages that investors could seek in the future. that makes it in all of our best interest for our stock to not be washed out and for the stock price to recover and go up. so not only will we probably see the stock relisted back on the OTC. but you may also see a huge buyback to increase share price. I personally think this is going to go much higher than Faraday did.
Greener OP : this is the craziest part of that plan if that's what they do. normally if Fisker crashed his own stock and did a massive buyback it would make him look really bad to everyone including the courts. but in this scenario Fisker is going to make billions of dollars by being the hero and returning share value back to his investors.
Greener OP : it's kind of brilliant really.
Awuhsawj Greener OP : My shares were sold Sept 23 after market at 19:17. Had common shares. I received 21 bucks and my shares no there 🥹
Nevergiveuptowin Greener OP : thanks very much
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