i will attempt to address every recent post that chose to dismiss what i know and say.
first of all, i could give a $h*t less who the trustee is. i have no confidence in this one at all but it is not up to me. i have faith in the judicial system and judge bernstein seems on top of this. secondly, none of the financing and other information is secret. if you would have shown up in court, like i took the time and energy and expense to do, each and every party was willing to share documents with anyone who asked. there are no secretss here unless it is attorney work product and communications. there ARE absolutely people willing to provide dip financing. i suggest you call the trustee and ask him. or better yet, call the court and argue with them rather than me. i spoke with the people directly but they, not me, will do nothing with this trustee in place.
as far as the contracts with the sports venues and teams go, i suggest you call the judge and ask him about that as well. ask the trustee. ask the teams lawyers. ask a first year law student. prepaid expenses are not subject to collection under the bankruptcy laws. there must be proven damages. there must be a product exchanged. there must be an economic loss.
I will bet you all of the money at stake here i am correct. put up or shut up.
and for all who want to know, a DIP financier does not necessary believe one way or the other about the future of the company. it is a business transaction with payment guaranteed by the bankruptcy laws of this country. even one of the bashers here could make money legitimately by offering to finance the ongoing business of this company or the demise and self destruction. either way, you will get paid and receive a profit for doing so.
Hey, if the sporting teams and venues that got the bad checks were so sure of their positions, why havent they filed their claims yet? only one has to my knowledge.. and the bad checks? where are the prosecutions or criminal complaints you were all so sure of?
It is easy to sit back and read your old posts to reassure yourselves of your precient knowledge but so far the company still exists, still ships. nobody is in jail. the sec has not stopped trading as they do in fact have the power to do but, as pointed out in court yesterday, they havent.
put down your prompting pages and talk to a securities atty or bankruptcy counsel. attend a hearing. stop writing what you know nothing about. good or bad, i took the time and expense to do so, and, given the opportunity i would offer dip financing. it is secured. it is very profitable. you not only get interest, which is worth nothing today, but you can also get fees and, i am not saying it will, the company succeds to emerge from bankruptcy, you can also negotiate for shares. would rather take a chance on GM but who knws.
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