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berta

03/02/11 7:05 PM

#333227 RE: patchman #333226

it seems Mr. Booth was able to figure out what the SEC and other's couldn't.. sure sheds some new light on where the hell did all the shares come from anyway...

toxicdebtspiral

03/03/11 7:53 AM

#333249 RE: patchman #333226

"I read the document and it was laughable. No bankruptcy judge has the authority to force the SEC or FBI to hand over anything."

I think the motion has a couple of fatal flaws that will lead to a quick dismissal. Rule 2004 allows motions for examinations from any "party in interest." There is no official Shareholders Committee acknowledged by the court hence no standing for the motion.

Even in the unlikely event that hurdle is met, there are numerous precedents for denying 2004 motions on the grounds that the examination will be used to support extraneous litigation which has its own discovery procedures. The motion in question here clearly indicates "potential litigation" against many other parties. The courts will not allow 2004 to be used as a fishing expedition.