Those guys weren't even aware that a settlement was reached. I don't think EC guys have any say in the settlement offer. AFAIK, Rosen mentioned that deal was subject to approval by bond holders, not Equity Comission.
Agreed Chuck....The EC needs to start turning the tide a little bit. Quite frankly, I'm getting tired of Rosen running the table here. Someone on the right side of this situation needs to get a little "air time". I want to see motions from these guys that puts them smack dab in the middle of the table when it comes to any kind of settlements!!
I'm just curious...if the EC was not necessarily a party to the debtor's motion for the 4B settlement... why would it matter if the EC never knew about it...I mean what concern would they have?? And if they had every right to be aware and be involved in those discussions...why wasn't the proposal automatically shut down when JMW learned the nature of it? I mean it's not a global settlement if all the parties are not invovled??? Is the modus operandi that equity is not in the money...the basis for not allowing the EC in negotiations? We didn't expect to be at this point anyway...right?
Yet, the attorney for the EC sounded like they had been out of the loop. It's almost like this was staged...to avoid a ruling or something. Things don't add up for me... oh well..
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