Good news from the hearing today.
The Court approved the Disclosure Statement meaning that we will now proceed to voting and confirmation of the Plan.
The Company will mail out notices regarding the confirmation hearing by this Friday. The Equity Committee agreed that the Company will not have to mail out actual copies of the Disclosure Statement or the Plan to shareholders in order to save costs. The notice that you guys will receive will direct you to a website where you can obtain copies.
Any objections to the Plan will have to be filed no later than October 16. All ballots must also be returned to Debtors’ counsel so that they are received by October 16. Ballots cannot be mailed to the Court. The Debtors will have to file responses to any objections to the Plan by October 25. The hearing on confirmation of the Plan will be held on October 30 at 2:00 pm Mountain Time.
