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Post# of 74547
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hotmeat

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hotmeat

Re: None

Sunday, 08/15/2010 12:47:47 PM

Sunday, August 15, 2010 12:47:47 PM

Post# of 74547
A simple reminder about J. Riconda's (JR) position in this case:

(1) QSGI will abandon 100% of capital stock of CCSI to JR in exchange for release from $10,909,000 secured claim by same.

(2) JR shall retain an unsecured claim of $10,159,000 for which he will not receive "CASH OR EQUITY" in the reorganized entity even if same should be offered to other unsecured creditors. JR also agrees to not object to but support any plan of reorganization(POR) submitted by debtors.
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