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This debtor lawyer worse than suckberg. Lies, crap, save 60,000 jobs, will liquidate if judge halts sale... blah blah blah..
Debtor lawyer telling judge she can’t halt sale... he has not addressed our lawyer’s 365 comments...
Our lawyer done, debtor lawyer starting now.
Our lawyer doing good, making a lot of good points, how debtor has violated law... and is screwing shareholders...
At this moment, I think judge will have to choice but to halt sale.. we’ll see, our lawyer still presenting his case...
Our lawyer doing good, making a lot of good points, how debtor has violated law... and is screwing shareholders...
At this moment, I think judge will have to choice but to halt sale.. we’ll see, our lawyer still presenting his case...
But in this case, Azcowboy isn’t talking about a reverse split. Duh.
I suggest you read ad hoc committee’s appeal, just pages 2,3,4 are devastating and show how crooks are trying to steal company.
5 month comprehensive marketing process? What a lie. What happened to bidding process and procedures sussberg promised over and over buy yet never produced them..
Large Green, I am going with #2. I read the appeal from our Ad Hoc Equity Committee. Very powerful and straight to the point... They did a good job, short and sweet...
I don't think there is enough time to settle before Friday and debtors already filed their objection....
JMHO
ND9
BBANBOB, good, new shareholder letter, docket #1847
BBANBOB, exactly right... such as Judge Jones using his mentor and friend, Judge Isgur, to work on plan and settlement... Sussberg and all the other lawyers, in court, capitalized on this, and pumped up Judge Isgur, about how he worked nights, weekends, so many hours, blah, blah, blah, over and over again... Seriously, did anybody really expect Judge Jones to overrule his friend and mentor (Judge Isgur), and disagree with Sussberg final proposal, seriously? Talk about bias.... what did Judge Jones say in hearing last week, he can't let emotions dictate his decisions... LOL
I helped a friend with letter last week that touches on this and other mistakes Judge Jones made...
Interesting, but email letter sent to Judge Jones last Wednesday, still not posted... probably too embarrassing and maybe they don't want to post it.. They have been adding other things to docket over last few days, but not the letter that I know they have received twice... Hmmmmm
ND9
Who is paying for our appeal lawyers?
Not to mention my friends letter to judge is very embarrassing ... wonder when or if they will post it..
Friend on mine emailed great letter on Tuesday, to judge pointing out flaws in process and 11/9 hearing.. they still haven’t posted to docket. I guess judge didn’t like what letter said, maybe too embarrassing... we’ll see if they add to docket..
100% Correct... just think of airline industry... it is a joke to think tomorrow we can have green jets..
Inventor1, this is why you shouldn’t have been pumping your $7-$11 so hard. I told you and others this wasn’t a sure thing and I saw no evidence of amazon buying jcp. However, you wouldn’t listen. Now you look foolish pumping jcp and worse than that, you are taking no accountability but blaming others. You really aren’t wearing big boy pants. You just think you are..
BBANBOB, I don't think Amazon wants 700-800 stores. I think they want to pick and choose, so they will let the middle-man steal company, then Amazon will pickup the ones they want... it's too late for Xmas and so Amazon is in no rush now....
JMHO
ND9
How can we appeal? That costs money and who will fund Okin?
Court Adjourned!!!
Judge's final comments at end of closing:
1.) With respect to folks who wrote me letters, I read them all.
2.) Thanks the Equity Committee.. They did what he wanted them to do.. Judge tried to find a way to give them a voice.. Thanks Mr Okin, nice job.
3.) Compliment all the other professionals involved in this..
4.) Asked Judge Isgar (69 yrs old) to give up weekends and work nights. Watched light in his eyes, convinced as ever, he was going to figure out a way for company to survive.
5.) Evidence is overwhelming every one has looked at all options
6.) Judge took oath to enforce law, can't sacrifice code because I don't like it, can't let emotions enter, can't create value, shareholder value was gone long ago..
7.) I wish I can fix everything.. comfortable process has been fair.. highest and best offer has been accepted by debtors.. View finding in context of what Mr Synder said.. I have known Mr Synder 30 yrs.. Best operator Judge has seen...
8.) Not gambling with my own money, gambling with investments and capital structure and 60,000 jobs... not willing to do for Judge to walk away by best professionals in the world..
9.) Approve the sale as requested.
10.) EC request to undo DIP.... would take a lot to undo.. DENIED.
Judge just letting shareholders talk... no facts, no evidence, just letting shareholders vent their emotions....
Very sad, listening to these shareholders beg the court not to wipe us out......
Sussberg and Judge just shot down Mr Thompson's comment about if Judge signs order, pensions gone... Sussberg said not true, they will be paid, and Judge concurred....
... but Okin and Mr Thompson did well in closing, made some good points during closing....
Okin doing well, good closing. EOM
It was looking good earlier today, but not now..
Closing Arguments starting now, 8:01 PM central time.
Hearing still going on 7:37 PM Central time. EOM
News: Judge David Jones says debtors will need to defend their plan
******************
Take a look at this other case, Judge Jones is working.
ND9
*********************************************
Chesapeake, Franklin Head to Bankruptcy Showdown With Creditors
by: Steven Church
Fri, October 30, 2020, 2:29 PM CDT
Steven Church
Fri, October 30, 2020, 2:29 PM CDT
(Bloomberg) -- Chesapeake Energy Corp. and Franklin Resources Inc. will need to defend their debt restructuring plan in December from attack by unsecured creditors who claim the proposal is built on a fraudulent scheme, a judge said Friday.
U.S. Bankruptcy Judge David Jones said he’ll consider the creditors’ claims Dec. 15 when he decides whether to approve Chesapeake’s proposal to exit bankruptcy by handing the company to senior lenders including Franklin. Jones also approved a disclosure statement that creditors will use to decide how to vote on Chesapeake’s reorganization plan.
https://www.yahoo.com/finance/news/chesapeake-franklin-head-bankruptcy-showdown-192918385.html
Diamond, must be a lot of money for them to be so quiet and wait so long..
ND9
Creditors claim proposal is FRAUDULENT.
News: Judge David Jones says debtors will need to defend their plan
******************
Take a look at this other case, Judge Jones is working.
ND9
*********************************************
Chesapeake, Franklin Head to Bankruptcy Showdown With Creditors
by: Steven Church
Fri, October 30, 2020, 2:29 PM CDT
Steven Church
Fri, October 30, 2020, 2:29 PM CDT
(Bloomberg) -- Chesapeake Energy Corp. and Franklin Resources Inc. will need to defend their debt restructuring plan in December from attack by unsecured creditors who claim the proposal is built on a fraudulent scheme, a judge said Friday.
U.S. Bankruptcy Judge David Jones said he’ll consider the creditors’ claims Dec. 15 when he decides whether to approve Chesapeake’s proposal to exit bankruptcy by handing the company to senior lenders including Franklin. Jones also approved a disclosure statement that creditors will use to decide how to vote on Chesapeake’s reorganization plan.
https://www.yahoo.com/finance/news/chesapeake-franklin-head-bankruptcy-showdown-192918385.html
I told you.
Mergers: Commission clears acquisition of J.C. Penney by Brookfield and Simon
The European Commission has approved, under the EU Merger Regulation, the acquisition of the retail and operating assets of J.C.Penney Company Inc. (‘JCPenney') of the U.S. by Brookfield Asset Management Inc. (‘Brookfield') of Canada and Simon Property Group, Inc. (‘Simon') of the U.S. JCPenney is an American retail company selling family apparel, footwear, accessories, jewellery, beauty products and home furnishings through its US-based department stores and website. Brookfield is a global asset manager focusing on real estate, infrastructure, renewable power and private equity. Simon is a real estate investment trust that owns, develops and manages premier shopping, dining, entertainment and mixed-use destinations. The Commission concluded that the proposed acquisition would raise no competition concerns given that JCPenney has no actual or foreseen activities within the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission competition website, in the public case register under the case number M.9979. (For more information: Arianna Podesta – Tel. +32 229 87024; Maria Tsoni – Tel.: +32 229 90526)
Daily news28 October 2020Brussels
Daily News 28 / 10 / 2020
https://ec.europa.eu/commission/presscorner/detail/en/MEX_20_1996
That is not true.
Royal Dude, I care, thanks,nd9.
Judge just denied both motions. Hearing just ended.
Sussberg never produced bidding procedure, like he promised for months and months.. now he says there are no other credible bidders..
Sussberg intro always hard to listen too... suck up, BS, lies, Crap, etc... sickening...
Geeez, so much self congratulations about working this past weekend... I guess they have never work weekends.... I work nights, weekends, holidays, whatever it takes to get job done..
Sussberg so full of crap, brown-noser, drama queen, liar, corrupt.. jmho