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Argus63

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Argus63

Re: Texas-Rick post# 12501

Thursday, 04/15/2010 9:50:01 AM

Thursday, April 15, 2010 9:50:01 AM

Post# of 17499
Yes it first has to be APPROVED by judge & unsecured creditors...

I think that you are correct, testing the waters and with an outdated balance sheet at that.
They seem confident the judge will approve but I have my doubts, that is if Peck is worth his salt.

They are also trying to 'scare' creditors into approval by saying that if this plan is rejected, they will pool all assets and the payout to unsecured creditors will only be a measly 7%.

I hope the judge sees through this and asks for a current balance sheet.

IMO-GLTA
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