Replies to post #36079 on Sunedison Inc. (fka SUNEQ)

[Doubledown75]

We have a good chance of getting 2 t-shirts? :)
Mentions Madoff and Quigley case
Also says the word “might” in the same sentence with bankruptcy “estate”.

[mds3579]

I think this is related to this where court asked debtors to release some information.

In short, the Debtors have failed to sustain their burden of proving that the Court has subject matter jurisdiction to approve the Release in its current form. The reference to certain indemnity obligations owed to a few parties does not prove that the outcome of the universe of claims the Debtors seek to enjoin will have a conceivable effect on the
estate. Similarly, the Debtors have failed to demonstrate that the third party releases are appropriate under Metromedia. The Non-Voting Releasors did not consent to the Release. The creditors are not being paid in full, and their third party claims will be extinguished rather than channeled to a fund that will pay them. Furthermore, as noted, the Debtors have not identified which third party claims will directly impact their
reorganization, and given the broad scope of the Release, it is likely that many will not.
Finally, while some of the proposed releasees undoubtedly made contributions for which they are not otherwise compensated, or compromised their rights as part of the global settlement that made confirmation possible, the broad definition of Released Parties includes persons that added nothing to the cases.