This is NOT just another extension! Read the filing. Remember that game when we were kids, "which thing is different than the other?" And there'd be pictures side by side and you'd have to identify something that was different.
Well, with today's filing, we have HUGE NEWS that is different from the three prior Motions to Extend, See Paragraph 4:
4. In light of this development, the Debtors have been negotiating with various third parties to obtain funding for the Debtors. The Debtors have had a number of constructive discussions. In the past week, the Debtors have identified a third-party lender willing to lend to the Debtors and are working with the Debtors’ management to structure a bankruptcy exit. The Debtors require additional time to finalize negotiations with the third-party lender and determine whether to pursue a plan or sale process. Accordingly, the Debtors seek to extend the exclusivity periods to conclude negotiations with the third-party lender.
THEY FOUND A LENDER TO ASSIST WITH EXITING BANKRUPTCY!!! The "Plan" as it was defined in the prior motions (which included the provisions to eliminate commons and allow TCA to take the company private is no longer even referenced as a possibility).
