I agree that its too early for examiner and they are expensive for the debtor.
I am sure, RM knows that examiner will be expensive for the estate and he is going to be the biggest looser becase:
- He has 51% stake
- Examiner might bring out report in our favor
So this can even serve as threat to him.
Also, he is trying to take the company private. I don't think that its a good idea esp. after seeing his behaviour during the bankruptcy. Moreover if the company is private, we will have hard time pricing and selling the stock. If possible, we should push for keeping the company public even if its an extra cost to the company (for complying to SEC).
Let me know what you guys think on this.
Also, do you know any other company which is in bankruptcy and has lot of value? Any other interesting stocks?
Thanks,
