Monday, December 20, 2010 1:15:02 PM
This is what I think we should do -
1. I file a Preliminary Objection in which I explain the additional 6 -7% of Class 5's recovery that is being taken by the Senior Notes - Class 3 - which I think they have no contractual right to.
2. I point out in the Preliminary Objection that the Doctrine of Substantive Consolidation is the "equitable treatment of all Creditors" and also "the equal treatment of all Creditors" - and yet Class 5 - Sub Notes - is not being treated equally or fairly as Creditors.
3. I point out in the Preliminary Objection that the Plan shows the Creditors of other Debtors/Estates expressing Good Will by giving up some of their recovery to benefit Classes 3 & 4 - and yet Class 3 extends no Good Will to Class 5.
4. After I file my Preliminary Objection anyone who agrees with my Objection can file a "JOINDER" to my Objection - expressing support for my Objection and also adding anything more that one wants to say.
I think we need to publicly show Class 3's greed and lack of Good Will if we are going to get any concessions from Class 3.
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