Retaining Rallis is a good thing!
Why? This Post by EI last week is worth repeating:
Rallis files supplemental declaration in response (6/10/10).
Source: PACER (Docket 1505)
Based on my review, Rallis was contacted five times by parties interested in pursuing an OCC/alternate plan: a secured creditor on 3/05/10, another secured creditor on 3/17/10, an equityholder on 4/06/10, a third party on 4/15/10 and another third party on 4/21/10.
In addition, he declares on page 8 that since the last exclusivity hearing, the OCC has been approached by three different entities, who have each offered to pay unsecured creditors in full, with interest, on or shortly after the Effective Date.
