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Hopefully, since the debtors didn't comply with the court's ruling, it will either be denied or another hearing would have to be held. An outright denial would make make the timing a mute issue. :) No need to crowd the calendar.
Blessings,
B
Do you think we will have another hearing on the modified DS or will she just make an decision?
Add Bet, Jberg, Ilene and several others. These guys are a Godsend. What stories we all will all have to tell our grandkids one day!
This DS is kind of the equivalent to a wedding with no bride. Everything may look perfect to the casual observer but the most important part of the event no where to be found.
Even if it is (which I'm now on the fence if she will do her due diligence or just approve it), shareholders have her ear and this is a significant development from the last DS hearing.
This is good as it appears the Judge is not rushing to approve the DS. The objections today showed some serious deficiencies in the modified plan and it sounds like she wants their input. So far, I like it.
Thanks again for keeping us in the loop!
This is great post William. Thank you for your insight.
Thank you Ilene! We, as always, appreciate your posts.
He views this case from business/firm perspective and we see it from the human side as this affects us and our finances personally. Since he appears to engage you as a real person you may be able to nudge his perspective a little.
Since you have a cordial relationship with Rosen, you should ask him point blank why they haven't settled with equity yet. I get a feeling you could do it in a way that he would want to answer you and it would be fun to watch him crawfish around a little. He seems to really respect you.
Why would a hedge fund respond to a disclosure statement objection? Isn't this the Debtors responsibility?
Great job Board! Fantastic letter.
Thanks. You definitely had my attention!
Ilene,
Can you further expound on this comment?
"and then when I saw the talk of the Debtors, et al, working on a settlement, inclusive of us...I thought his comment was more interesting than annoying."
Thanks!
Thanks to all involved in making the hearing audio available. This is really appreciated.
Ilene,
You seen genuinely enthused about the hearing, which is very encouraging as you were the boots on the ground today. Do you feel we are in an overall better position after the hearing? Many here and on other boards are very discouraged but we did not have audio, or the "feel" of the courtroom today. We really appreciate your feedback and thanks for all you do.
Nice to see another voice of reason in the crowd of confusion. With all the emotions involved in this stock, I appreciate your realistic look at where were are and potentially headed.
As you said, we all have to wait it out and stick together.
Thanks for being a voice of sanity through all of this.
The UCC doesn't think the denial killed the POR. Check this out from their filing:
"First, it is plain as day that the Court’s January 7, 2011 Order Denying Confirmation (D.I. # 6529) is non-final. The order clearly contemplates further proceedings, and indeed the parties will be before the Court tomorrow for a status conference regarding issues raised by the Court’s Opinion Denying Confirmation"
http://www.kccllc.net/documents/0812229/0812229110119000000000015.pdf
Debtors argue the same in their filing. What are we missing here?
Lawerence,
The trading restrictions are lifted only after the POR is confirmed. No confirmation and the trading restrictions remain in place.
I believe the Judge has an opinion on the POR and is just clearing the road. I don't think this gives us an indication either way.
Ilene,
Again, you did a fantastic job and thank you for being our voice.
Quick question. Right before our audio went dead, the Judge asked Rosen if the Tricadea settlement was dependent on the GSA approval or if she was being asked to approve it independently. We never got Rosen's answer. Do you remember what he said as I thought her question and his answer was very important to their mindset at that time.
Thanks again!
Ilene,
Your performance literally brought tears to my eyes. Thank you for standing up and speaking for us.
T
It's called a moral void.
Thanks Ilene and our prayers are with you tomorrow. When you get a few minutes, we would love to get your synopsis inside the courtroom, especially the body language and demeanor of the players and Judge. It sounded like it went really well today per the audio but there is so much more of a takeaway in person.
Thanks for your thoughts and looking forward to hearing from you in court tomorrow.
Thanks Ilene!
Is anyone in contact with Ilene? Someone needs to let our people know that we can hear what they are saying while they are on breaks. It's extremely interesting but we don't need anything said that can tip off opposing council.
This is a very reasonable explanation. If I were in his shoes, I would have answered the same way regardless of how I felt or what I knew.
I'm loving this! It sounds like the Judge get it now. Thanks for all your insight.
Agreed. Would love to hear your thoughts Mordicai.
Thank you for your eyes in the courtroom and Happy Birthday! We appreciate you and all your feedback.
Good. Starke held up really well when he was being hammered. Got to give him credit for fully understanding and conveying passion about his position. Hopefully this will go in their favor.
Thanks for your report Ilene. What was the feeling the TPS guys had after their presentation? Did they seem frustrated or pleased with their arguments?
Ilene,
What's the dim meaner of the Judge? Does she appear to be understanding what Starke is saying?
Get better soon Fish. We appreciate all you do.
Has anyone read the filing yet? This has put people in a frenzy but we thus far are light on facts. I hope this is correct but not jumping to conclusions.
Thanks for your thoughts on this. Great to see you around!
"I wouldn't put much faith in Bopfan; she was wrong about the examiner getting approved the first round, she was wrong about the DS approval, and she was really wrong about the outcomes of the examiner report. More than likely she'll be wrong about any 'surprise' here in a few days."
Almost all of were wrong on these items except for the bashers who were just getting paid to downplay the stock. We have all been wrong on a lot of things in this case so none of us is immune. No need to sow seeds of doubt about people, especially those who have taken the extra effort to educate. At the same time, no one's posts should be taken at face value since the majority of us will never be known to each other as anything other than our message board handle. If you are investing off of someone's opinion, you probably shouldn't be investing. (not directed at you but people in general)
Give her the benefit of the doubt on this one. I don't see why someone would put their credibility on the line without something to back it up. Hopefully, we will all be pleasantly surprised.
Fish,
I believe the .00001 is for the additional common stock after reorg. Not the current WAMUQ.
This is one of the most reasonable, well thought out posts I have read in some time. Yes, we all know the estate is worth more and have the DD to back it up. But at what point do we be thankful for what will be our massive gains instead of pushing this for full value. Like Myadad has stated, nobody is happy in a settlement. But in our case, most of us will be thrilled and will tell our kids for years to come about the pot of gold at the end this epic journey.
How many shares?
Nevermind. I just read the other post.