InvestorsHub Logo
icon url

clawmann

11/15/19 6:40 AM

#596526 RE: wcheng #596499

The UWs are not fighting anything. Why do people interpret what is going on in that manner?

The UWs negotiated a deal with the LT that puts their claim in class 19. It would take the mutual agreement of both the LT and the UWs to change that deal. The LT has given no indication that they are inclined to renegotiate the deal. They just want to go with what they have and close the bankruptcy.

Alice then jumped in at the last moment and tried to argue that the deal with the UWs was improper. The LT defended the deal. Walrath agreed with the LT and denied Alice's motion. Alice appealed.

I don't see any evidence of the UW actively fighting to stay in class 19. They negotiated a deal with the LT and then Alice challenged it. The Judge said the deal was OK. Now Alice is appealing, and the LT is again defending the deal.

Why is the LT defending the deal? Put yourself in their shoes: You are heading to the close of an 11-year bankruptcy process. You have worked out the disposition of all claims. The end is in sight, and then someone comes out of left field and says "Wait, you cannot do that." The LT is not going to go back and renegotiate with the UWs just because someone tries to throw in a monkey wrench at the end. The LT is going to let the courts decide this.

This is not that hard to understand if you are not wearing conspiracy colored glasses.