Replies to post #35332 on Sunedison Inc. (fka SUNEQ)

[johnydollar]

Very interesting here indeed, The motion explains, “Less than one week before the hearing on confirmation of the Debtors’ Proposed Plan…and one day after the deadline to object to the Proposed Plan, the Debtors filed a proposed amendment to the Equity Commitment Agreement [ECA]. The Second Revised ECA…removes the requirement that the Backstop Purchasers prefund their obligations under the ECA prior to the Confirmation Hearing and extends the deadline for them to do so by 16 weeks. Such an amendment to the ECA, and the timing of such amendment, demands an adjournment of the Confirmation Hearing to permit creditors, and the Court, sufficient time to analyze whether the Proposed Plan remains feasible in light of the Second Revised ECA.”