it's the distinguishing factor
>>>> The delimma ...... The company is the Debtor in Possession. Messrs. Meruelo and Maddux are shareholders along with us. You might deem it semantics.<<<<
Not just semantics, but the 51% is THE distinguishing factor for MMPI .....
>>>>Creditors are rarely allies of Debtors, but the "Friendly Committee Members" postponed all attempts for an alternate plan (or plans). <<<<
they're a friendly committee cuz Dick is in charge (51%) and will determine if the committee members will meet next month's mortgage payment and/or in the future if the kids will get to go to college ... wouldn't be that way if Dick were just a paid CEO ...
>>>Since you utlize PACER, I am sure you read that one plan called for paying all the creditors in full and retaining current equity holders. Why? In order to utilize the NOL's, existing creditors and equityholders must retain 51 percent of Newco.<<<
I believe that was Dick's argument for issuing new shares where he still held 51%
>>>The Creditors are arguing LaSalle for a reason. All they want is open market solution. In this role, they are acting as our ally. We current have no committee of our own, but they are funding a solution for themselves, which may benefit all shareholders.<<<
Let's get rid of La Salle by no new equity injection, allow divide and conquer to work its magic and wah lah exit bk intact ... YIKES! still in the tank with Dick
>>>>Opening the proceedings to competition may result in more than two proponents. Meruelo & Co. can then call or raise the pot.<<<
EI, please accept my challenge to use your new found wealth from your uncle (LOL) and submit a competing POR ...
AI
Market Data 
Markets 
