Thursday, June 20, 2019 1:52:02 PM
Some quick thoughts in response.
<<DO THE TRUSTS 3,4,5,6 FOLLOW THE CH11 PLAN?.>>
They were assumed to reject the Plan yet trade to qualify the Estate for NOLs that has BK'd their Holding Co. The CT 3,4,5,6 were all Tier 1 in the Holding Co. So, if they wind down the Holding Co. in A&M "Administration," then they will follow the Plan "in Administration."
In this POR, COD is out, it would seem.
<<ARE THESE TRUST IN BANKRUPTCY?.NO.>>
Five entities, including LBHI Holding, remain in BK Administration per the Court approved POR. It seems if LBHI wants to do anything, they need to follow the POR or take it to Court for the Judge's Approval.
<<THEN WHY WOULD THE CTs SHOULD FOLLOW CH11 POR?.>>
Because the Court approved it. If there is another way, they'll need Court approval to do that, too.
<<WHY NOT RELY ON THE BOD DECISION MADE ON PARTIAL GUARANTEES TO FULL GUARANTEES AND PROSPECTUS?.>>
Good question as those are strong guarantees that seemed to be overlooked (at least temporarily by the Court) to address all concerns.
In this event these guarantees were overlooked, concealed or infringed upon, it seems the Court should make restitution.
I'm not a Lawyer or employed by LBHI or the Court. I'm not included in all communications in the Estate, Courts or Attorneys.
This is my opinion only for shares I hold in my name.
mojo
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