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Re: ne trader post# 1203

Thursday, 09/23/2010 8:22:45 PM

Thursday, September 23, 2010 8:22:45 PM

Post# of 4875
BASED ON THIS:

18 THE COURT: Well, that’s -- and that’s why the terms
19 of the stipulation, I think, need to be specific. If the
20 stipulation is that it’s recognized that the security interests
21 are valid and they’re perfected, that the secured creditors
22 could exercise the appropriate state law remedies regarding
23 both the realty and the personalty, but that the debtor -- that
24 there are still assets of the estate, the sale will take place
25 under Section 363, in order to attempt to maximize the value of
the assets, and perhaps there will be bidders that will exceed the amount of secured debt and there would be additional proceeds for unsecured creditors, I don’t have any objection to that.
http://www.sidedraught.com/stocks/FGOCQ/04202010%20Hearing/Transcript-%5BCourtesy%20Iggles2009%5D-Reno_Firstgold%20Corp_042010.pdf

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