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Re: finbar99 post# 2444

Thursday, 07/25/2013 11:00:54 AM

Thursday, July 25, 2013 11:00:54 AM

Post# of 2919
As I was saying yesterday over on yahoo, two things are critical to getting an EC - 1) a showing that the the company is not 'hopelessly insolvent' and 2) a showing that equity is not otherwise represented by mgmt. I don't know much about the company yet - you probably have a good handle on this, but I would point first to the lack of published financials the past two years - that alone shows a lack of responsiveness on the part of mgmt and a very valid reason for equity to have an official seat at the table here. Given the size of the stalking horse bid, I think most good attorneys would be fairly confident about landing the EC.
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