InvestorsHub Logo
Followers 10
Posts 734
Boards Moderated 0
Alias Born 03/27/2009

Re: None

Wednesday, 03/16/2011 10:19:34 AM

Wednesday, March 16, 2011 10:19:34 AM

Post# of 15495
Not sure what to make of this, but if anyone bothers to look up Dan Brown's profile on the K&E web site, you'll see he's less than 2 years out of law school. So he's probably doing grunt work - he's not the main guy on the case, and he likely isn't in a position to know everything that's going on. That only makes sense - there's no way the main partners are going to answer an e-mail that, at best, they view as an annoyance. Moreover, speculation about lawyers being replaced is (a) unsupported by the case, and (b) unfounded, given that if a K&E partner has a conflict, the whole firm has a conflict under the Illinois rules of professional conduct.

Moreover, Brown can't comment on negotiations - he can only comment on what took place in court, which is to say, they updated the court that there are some adjustments. So, when and if a final POR is negotiated and (likely) presented to the court, he can (theoretically) comment. Until then, he can't, because he can only comment on what took place yesterday without risking exposing himself and his firm.

From where I sit, this is really simple...that being said, I won't handicap the chances of the POL being replaced with a POR.

FWIW: I practiced law at large law firms for years and am now in-house, albeit not bankruptcy law, so I may have _some_ insights.

The only thing that surprises me is that K&E bothered to respond at all.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.