Quicksilver Inc. (fka ZQKSQ)

[otc77]

The judge said he was swayed after Oaktree told him Quiksilver could still be shopped around throughout the bankruptcy process. Judge Shannon said that he was "struggling" with the break-up fee, which Oaktree could have collected if Quiksilver chose another buyer to support its plan.
"Oaktree's prepared to walk away from the break-up fee. We are not going to make your honour make that decision," said Patrick Nash, an attorney for Oaktree. "There are gives and takes."
Under the Oaktree-backed plan, Quiksilver would exit court protection with about $US500 million less debt. Oaktree owns about 73 per cent of the chain's $US279 million in senior notes, which would be exchanged for a majority of the reorganised company's equity (stock). Unsecured creditors, owed more than $US200 million, would split about $US7.5 million.
Oaktree is providing $US115 million in financing to help fund operations while the company restructures. The other $US60 million is being supplied by Bank of America Corp to pay down amounts owed to the bank from before bankruptcy.
Bloomberg
Let's hope for a sweater deal!!