In the Pacer document, it mentions that it would be in the best interest of creditors, equity secuity holders and the Debtor to have a chapter 11 dismissal. It also mentions how the Debtor had sought to confirm a plan that does not impair creditor and equity security holder interests, and that case dismissal would effectuate their fully unimpaired plan proposal. They would not obtain the benefit of a confirmation order and resolving claims objections through the BK Court process, they could still litigate claims in state or federal courts if necessary. It also mentioned the plan couldn't be completed through the chapter 11 process since their is the problem with the SEC revoking their registration, and that could not be resolved through the chapter 11 process, but the purpose of the plan could be fulfilled without chapter 11. The Debtor also requests that the Court retain juridiction over matters related to employment and final compensation of professionals for the estate.
Everyone should read the Pacer documents themselves; has anyone read the Pacer documents and "To Parties in interest"? Any comments would be appreciated. TIA
Also, there is a list of shareholders; anyone see their name on the list?
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