Champion Enterprises Inc. (fka CJHBQ)

[Madclown]

The timing isn't odd but the attempt to request the appointment of a trustee is. It was brought to my attention that this was going on so I stopped by to see what it was all about. There are no motives here other than to be helpful to those who wish to stay in the game and pursue the EC route. I thought those that wished to pursue this route might want to know where the resistance points might lie from the parties that will be opposing your efforts (debtors & creditors) from someone who has been through the process. I certainly wished that I had some source to bounce ideas off when I first began dealing with the Chemtura EC effort. I had to learn the hard way after hours and hours of prior case research and formulating arguments and rebuttals to the opposition that was coming in from all sides.

There are 2 types of reactions you can have to my prior post; one would be to discount my musings as one of a know-nothing basher and ignore the realities of the situation and the task that lies ahead or another would be to recognize it as an attempt to help the more than a dozen people who have privately asked for my opinion. I stayed silent until now because until now there wasn't anyone contemplating making a huge misstep that would derail your efforts. At the very least, I can tell you that a one paragraph letter politely asking for an EC will not get it done on any case or in any court. These things have to be well thought out and you have to have to be able to successfully rebut all counterpoints. Submitting a letter without giving consideration to the statutory requirements for the formation of an EC would be as big a waste of time as questioning the motives of someone trying to help.

I can almost guarantee you that I have more hours of research into this name that 95% of those that currently hold the stock. I was contemplating a purchase of the bonds of this company below 2% of par before most people that are still here even knew the stock existed. I wasn't successful in finding a seller so I moved on to other names. There are many people posting and lurking here that can attest to that.

best wishes