TMST, Inc., 8% Senior Notes (TMA.GB)

[Olmsted]

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The Trustee in this case made compelling arguments that the public disclosure of the proposed compensation terms for litigation counsel would permit the Defendants to gain a strategic advantage over the estate, especially in settlement negotiations. The Trustee argued convincingly that the proposed terms of compensation include certain payment thresholds or break points, which, if known to the Defendants, could influence their posture in negotiations, to the disadvantage of the estate’s recovery. The Trustee believes that the disclosure of the terms upon which it retained litigation counsel already has disadvantaged the estate in the settlement of another adversary proceeding in this Chapter 11 case.

Trustee has numbers in mind and we're eye-ing what a settlement looks like...