There will be a Hearing November 10, 2010 at 10:30am on Nevada Star’s Objection to the Debtors’ Proposed Order Authorizing Employment of John Bryan as the Debtors’ CEO
I think that is why some people seem so confused about BK. It is complex. The judge definitely has the latitude (Force of law) to perform any of the actions I described.
We will find out in a few weeks as the motions are ruled upon. The company can put forth a plan that includes contract modifications etc... in order to emerge from BK.
What kind of lawsuit does PN have left when the contract modifications are accepted and become law? We call that a vaporsuit. Based on nothing but hot air since all the supporting legal pillars have been removed or changed.