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Re: Pitt77 post# 23919

Friday, 11/19/2010 9:07:31 AM

Friday, November 19, 2010 9:07:31 AM

Post# of 24889
The Court is lead to believe many things. I raised issue regardign Naked Shorts. I was asked shut...

"This Court was lead to believe that the Debtor will not be able to emerge out of bankruptcy without Rights Offering and Back Stop Commitment. I am surprised that this Court really believed that. Your Honor knew that Smrufit Stone was very easily able to get out of bankruptcy and was able to get good financing terms. AbitibiBowater has more assets then Smurfit Stone did then as well as today. These processes of 'Rights Offering' and 'Back Stop Commitment' and the bickering over it has cost over $100 million to the Debtors or about $2 per share."

'Courts of bankruptcy are essentially courts of equity, and their proceedings inherently are proceedings in equity.'

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