Replies to post #1495 on EVOQ Properties Inc.(fka EVOQ)

[Enterprising Investor]

Bank of America also submits brief (5/26/10).

The Supreme Court noted that the plan in that case: "Is doomed ... by its provision for vesting equity in the reorganized business in the Debtor's partners without extending an opportunity to anyone else either to compete for that equity or to propose a competing reorganization plan" [page 8]

Source: PACER (Docket 1449)

The secured creditors are fighting the battle for us.

[KT_investor]

Hi All, I have invested in MMPI and really disappointed by the PORs proposed by RM.

Has anyone thought about an "Examiner" for this case.

While reseraching, I came up with this article:

http://themoneyhunt.wordpress.com/2010/05/
Please read the section "Bankruptcy court adopts Madoff trustee’s method of determining “net equity”"

According to this article
If we are not able to get an equity committee appointed, we might be able to get an independent examiner appointed who can verify that the company is solvent and there is equity left for share holder.

It also says that examiners are very helpful particularly when "the debtor or its management is suspected of fraud or other misconduct"

Currently, Visteon is also undergoing thru Chapter 11 and the shareholders are not satisfied with the valuations proposed by Debtor. So they have requested for an "Examiner" and it seems that US Trustee agreed to appoint an examiner to get independent valuations.

http://www.reuters.com/article/idUSTRE63423W20100405
http://www.reuters.com/article/idUSN0517209620100505

Thanks,