We are a collection of several groups united to defend our shared common interests.
There are two facets of our group that are important to recognize.
One is that we’re a product of a grassroots environment and effort, having organized largely via networking and social media, including Twitter, Yahoo!, Facebook, and others. Many of us do not have the luxury of easy access to tools and resources that these efforts typically require. We are regular folk, from all over the world, who need to rise up together to protect our interests.
A second facet is that we have made ourselves a well-informed, professionally represented group of investors who are convinced that we have an opportunity for some measure of recovery in these cases. We’ve collaborated to form a well-organized team that has worked very hard to accomplish together what each of us would not have been able to do individually.
Our group is able to make a very important contribution to the value of the Debtors’ estate, one worth more than the expense it will incur.
No Examiner was appointed in these cases to ensure that valuations have been correct. No Equity Committee has yet been appointed to serve as a check and balance against Creditors’ interests. Our “Adequate Representation” promised by the Code has never materialized.
We are confident that the proposed Reorganization Plan does not maximize the value of SunEdison’s estate. We’re working towards demonstrating that to the Court, along with how we will contribute to an Alternate Plan. We have a superb team of experts (Counsel, Valuation and Forensics firms) who will be able to argue for shareholder interests very effectively.
The Bankruptcy Code is legislation created to balance the needs of ‘economic efficiency’ and ‘procedural fairness’ in Chapter 11. This balance has yet to be found in SunEdison’s cases.
We intend to change that. Please join us.