From another post on the Yahoo a very interesting Points against the Cram Down "Bad Theory" which is true but we as the owners can Say NOT SO FAST JOSE.Here is our POR.
Could Equity be Crammed Down? Maybe not . . .
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Section 1129(a)’s Requirements That Apply to Cram Down
In order to be crammed down, the plan must satisfy the remaining requirements of § 1129(a) – leaving aside subsection (a)(8)’s mandate that each class of impaired claims accept. Thus, the plan must provide that: each creditor or interest holder who does not accept the plan must receive no less under the plan than it otherwise would if the debtor were liquidated ((a)(7)); at least one impaired class must vote to accept the plan ((a)(10))[vi]; and the plan must be “feasible” — i.e. not likely to be followed by liquidation or another reorganization of the debtor ((a)(11)). A “cram down” confirmation still must not unfairly discriminate against any dissenting impaired class and must provide for fair and equitable treatment of all dissenting and impaired classes.
Threaten and Prove Cram Down to Achieve Consensual Confirmation
Cram down confirmation is easy to threaten, but harder to accomplish. The tests discussed above provide the structure for making and evaluating such a threat. The debtor’s ability to demonstrate, early on, to a dissenting impaired class that the debtor’s plan can satisfy the cram down requirements may “soften up” the class members and make a negotiated, consensual plan confirmation possible
So no the Plan have been debunked from the Owners of the Company shareholders we can come up with our own POR which should give the sae treatment to them but also pay us more.
Only the debtor may file a plan of reorganization during the first 120 days after the petition is filed beginning the case[ii], and such plan must be accepted (after solicitation of and voting by creditors) “by each class of claims that is impaired under the plan” within 180 days after the petition is filed (the “exclusivity” periods).[iii] If an impaired class of claims does not accept the plan within the exclusivity periods, the debtor loses the initiative and another party – such as a secured lender or a creditors committee as representative of unsecured creditors — may propose a plan.
Read that last part, THE DEBTOR LOSES THE INITIATIVE AND ANOTHER PARTY MAY PROPOSE A PLAN.
Ps I see the Commons becoming Golden as the Golden were before and Golden are right now and only the Vampire Slayers Loui doesnt see it the truth as the Light Kill Vampires and thats why the Half Trues of that Evil person is a Lie and another manouvre to get cheapos before the run.
