Replies to post #2835 on Global Aircraft Solutions (fka GACFQ)

[$b_rich$]

Looks to me like the plan rejected eliminating class 5 and class 6? Like I've stated though, bk stocks are a whole new animal for me, lol.

11. Plan Acceptance.
By virtue of the vote record as filed with the Court, and deeming Pamir to have changed its vote to accept the Plan, each impaired Class under the Plan accepted the Plan, except as follows.

Holders of Claims in Class 5 (Intercompany Claims) and holders of Equity Interests in Class 6 shall neither receive nor retain any property under the Plan and, therefore, are conclusively deemed to have rejected the Plan.

[Smalls]

If you look at article 30 in the main BK. It states: "VPC and Ascent shall have no liability or other obligation of debtors or the trustee arising under or related to assets...". The deal was approved therefore the bk was dismissed. Ascent is no longer liable as stated above. It also states that Ascent acquired "all assets" so this would include the shell GACF. With them recently updating standings this could mean they plan to use the shell.

[Smalls]

Legally in an acquisition unless stated that the commons will be dissolved they remain intact and are included in the acquisition. I'll find a source stating this and post the link.

[lockednready]

Your post states one company modified it's vote. It's not saying others agreed to allow equity to survive. The key is the final POR...that should say yes or no without mentioning commons.

11. Plan Acceptance.
By virtue of the vote record as filed with the Court, and deeming Pamir to have changed its vote to accept the Plan, each impaired Class under the Plan accepted the Plan, except as follows.