Replies to post #14290 on Kentucky Energy (fka QMIN)

[WPOSullivan]

This could be a good thing.

All QMNM has to do is submit a plan, whether the creditors like it or not. That's up to the judge to rule on.

What if, they're actually very close to some kind of deal, and instead are working to dot the i's and cross the t's?

Anything's possible.

WP

[jubbyjubber]

...and from the Yahoo board, the same info with a glass half full slant:-

"BK news from yesterday, hot off of PACER... As I said previously, there was no court date scheduled for yesterday. The Amended Disclosure Statement was due and it was supposed to be acknowledged and signed by all parties-of-interest.

Yesterday, before the deadline, Gwenco's attorney filed a request for an extension until November 1st and it was granted by the judge. They now have until November 1st to submit the signed Amended Disclosure Statement. When it is submitted the judge will review it and approve it if appropriate. Then the next court date will be scheduled.

The reason for the extension request is because they were unable to circulate the documents for approval to all parties-of-interest in time to meet yesterday's deadline. They are working to finalize the outstanding issues and nobody has objected to the proposed settlement at this point. The creditors, including the exit lender Interstellar, supported the granting of additional time.

The BK is still on track. These things just take time. Hang in there all dedicated QMNM investors. BK resolution is getting close."

[ranttrmike]

No, thats not a bad thing.

What that means is that they all reached a verbal agreement, but couldn't circulate and collect the "voting" ballots in time for yesterday.

It's a 10 day extension, not 30 or 60, which means they are within a hair of having this done IMHO.