Replies to post #2847 on Global Aircraft Solutions (fka GACFQ)

[Murray]

Agreed, instead of just looking at the length of the list, some peeps need to look at what some of these cases are actually for and the status they are in, finding a lot them in Motion to Vacate, Stipulation and Objection to Claim status. What also needs to be kept in mind is that in the not so distant past this used to be a company with 4-500 employees, find me a public company with that many employees that doesn't have a number of oustanding claims against them. In my day job I have worked/consulted Fortune 100/500 companies with hundreds of open claims, down to small private companies with 50 open claims. It's why every company has a legal department and a damn good lawyer before opening the door. This world has a lot of assmungers doing nothing but looking for a reason to sue someone. But... this is just all one guys opinion on the matter. They were acquired by a very well known company backed by an even better financial company (VPC) to make a difference in their business plan. imo... all things are pointing up from here. If any of these issues were too deep they woudn't be in full operation that has been confirmed by the Tuscon airport and surely wouldn't be expanding with new employees.

surely... this will come up a 10th and 11th time as it has all week.

[onemessageonly]

You are correct, "Ascent isn't responsible for any previous liabilities or obligations". The related assets were purchased by Victory(the primary secured lender...Title 11, United States Code, Section 363 sale), and formed Ascent.

That responsibility(liabilities and obligations) lies within Global Aircraft Solutions(this current equity). When the company emerges from chapter 11(clean), it will be the entity named "Ascent".

With regards to common shares(equity), refer to the amended plan, and classes impaired. The final outcome is considered "the fat lady singing".