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Re: Luddy350 post# 30867

Friday, 08/16/2013 5:41:12 PM

Friday, August 16, 2013 5:41:12 PM

Post# of 111370
Right...and that is because under bankruptcy, because of our subordination clauses we are deemed a non voting class and thus have no power to actually block the sale. However, the Judge cannot approve the sale of substantially all assets without making sure whomever obtains those assets assume our obligation as the successor. Unless, the rehabilitated debtor or a third party agrees to assume the obligation. That's why I believe CT's are going to be made whole....now the only question is by who?